Lobdell Apartments — Sale in Auburn, WA
- Price: Contact for price
- Listing type: For sale
- Asset type: Multifamily Property
- Location: Auburn, WA 98002
Photos
Investment Figures
- Cap rate
- 6.03%
Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.
Description
This well positioned, modernized asset presents an excellent opportunity for an investor seeking a stabilized community with upside continuing to renovate units and improving operations. Once completed, a new owner can achieve meaningful rent growth and operational efficiencies, resulting in increased cash flow and long-term value appreciation. Given its location in Auburn—benefiting from strong commuter connectivity and a growing renter base driven by affordability constraints relative to nearby employment centers, Lobdell is well positioned to capture continued demand. Investors will benefit from a lower basis compared to comparable assets in Seattle, while still maintaining exposure to the region’s robust economic fundamentals. Overall, the offering provides a compelling combination of in-place income, value-add potential, and long-term upside in one of South King County’s most accessible and steadily growing submarkets. Investment Highlights: • Portfolio purchase opportunity — can be bought together with the 16-unit complex across the street. • Strong affordability for buyers and renters in a high-growth corridor. • Central Auburn-Kent Valley location between Seattle and Tacoma, close to transit, dining, groceries, and The Outlet Collection Mall.
Market Context
This multifamily in Auburn, WA is listed for sale. It is offered at an approximate 6.0% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Auburn, WA — view the full market.
As of Q1 2026, the Seattle / Bellevue multifamily market showed a 7.3% vacancy rate, and average asking rents near $2004.00/unit/mo. Source: multiple brokerage reports, Q1 2026.
Multifamily market FAQ
- Is the Seattle / Bellevue multifamily market tightening or softening?
- Vacancy is around 7.3% (Q1 2026).
Contact
- Scott Morasch · (206) 826-5724 · scott.morasch@marcusmillichap.com
- Kellan Moll · (206) 826-5692 · kellan.moll@marcusmillichap.com
Explore this market
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