Property Details

739 3rd Ave S
Kent, WA 98032
$1,995,000
CBA# 709465 courtesy of CBA Listing firm: Lee & Associates Commercial Real Estate Services

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739 3rd Ave S, Kent

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Commercial
Property Type
7,010
Bldg Sq Ft
10
Units
6.00%
Cap Rate
1969
Year Built

Property Overview

We are pleased to present the exclusive listing of Watson Manor Apartments, an 11-unit apartment building located in the heart of Kent,. Situated just south of Kent Station and minutes from SR-516, the property offers tenants suburban livability with seamless access to major employment centers throughout the region.Watson Manor is a rare opportunity to acquire a 100% vacant asset, providing investors with complete operational flexibility from day one. Unlike typical acquisitions encumbered by legacy leases, below-market rents, or deferred repositioning timelines, this property allows a new owner to immediately execute their business plan and fully capture current market dynamics.The asset represents a true “choose your own adventure” opportunity — whether the strategy is a light cosmetic refresh and lease-up, a comprehensive interior renovation to achieve premium rents, or a thoughtful reconfiguration to maximize unit efficiency. With no tenant rollover risk or displacement considerations.Beyond the immediate ability to re-tenant at today’s market rates, the property offers compelling upside through strategic improvements and potential reconfiguration.Explore converting the existing laundry area into an additional unit, or redesigning select layouts to create larger sized units, increasing rentable square footage and overall revenue potential!Ideally located in the heart of the Kent Valley, Watson Manor offers unmatched convenience just south of Downtown Kent. The property is within walking distance to premier amenities including the Kent Station Shopping Center, the Sounder Train Station, and the accesso ShoWare Center, a major event venue. With direct access to State Routes 167 and 516, residents and commuters enjoy seamless connectivity to Interstate 5 and the future Kent-Des Moines Light Rail Station furthering connectivity to Seattle, SeaTac International Airport, and Tacoma.The Kent Valley is one of the most active industrial corridors in the Pacific Northwest, supporting over 12,000 businesses and 62% of the region’s aerospace industry jobs. Leading employers such as Boeing, Amazon, Blue Origin, and REI contribute to a diverse and growing workforce, reinforcing the area’s reputation as a resilient, job-rich market.Residents enjoy an abundance of recreational and cultural attractions. From concerts and hockey at the ShoWare Center, to dining and entertainment at Kent Station, to hiking and biking across 55 city parks and trails, including the Kiwanis Tot Lot one block from the subject, Kent offers a quality lifestyle within reach. Additionally, direct rail service to Seattle and Tacoma via the Sounder commuter line positions Kent as a convenient, commuter-friendly destination for working professionals.Watson Manor is a rare opportunity to invest in a well-connected, growing submarket within South King County.

Property Details

Property Information

Property Type Commercial Sale
Status Pending
County King
Listed Aug 7, 2026

Financial Summary

Cap Rate 6.00%

Building & Use

Building Sq Ft 7,010
Leasable Area 7,010 sqft
Total Units 10
Zoning MR-D
Possible Use Multi-Family
Year Built 1969

Exterior & Lot

Year Built 1969

Location

City Kent
County King
Coordinates 47.37420, -122.23700
Listed By
Candice Chevaillier, CCIM
Lee & Associates Commercial Real Estate Services

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