Investment Overview

Originally constructed in 1966, the Scenic Hill Apartments is a fifteen-unit apartment community located in the heart of Kent. Nestled in the serene Scenic Hill Neighborhood of Kent, the property blends quiet neighborhood living with an 86 Walk Score and easy access to Kent Station. Higher trending rents across Kent — particularly in Scenic Hill — emphasize the growing demand in this submarket , driven by proximity to South King County’s largest employment hubs. Located at 127 Kensington Ave S, the property is just minutes from Kent Station’s restaurants, retail, transit, and lifestyle amenities, providing daily convenience and rental durability. The Scenic Hill Apartments consists of six one-bedroom units, eight two-bedroom units, and one three-bedroom unit, originally built in 1966. Units feature efficient layouts and functional floorplans, with strong potential for modernization through interior renovations. Additionally, the property features 17 on-site parking spaces and on-site laundry – both highly desirable amenities for tenants. At the current pricing, Scenic Hill provides an investor with a 5.8% in-place CAP rate, 7.45% cash-on-cash return, and a 17.5% IRR. With achievable rent of 16% through strategic interior upgrades, a buyer can further elevate returns and position the asset competitively alongside renovated neighboring properties.