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31624 W Rutherford Street, 
Carnation, WA 98014

$1,375,000


Bed


Bath


3,936

Sq Ft


Multi-Family

Active

Listed by

Charles Burnett

Real Broker LLC.

Last updated:

August 2, 2026, 11:12 AM

MLS#

2542138

Source:

NWMLS

About This Home

31624 W Rutherford Street

Rare opportunity to acquire a six-unit apartment building in Carnation. Seller financing offered with ~35% down and interest-only payments during the first year, allowing the new owner to maximize cash flow while renovating units, increasing rents, and stabilizing the property before principal payments begin. Situated on a 15,152 SF corner lot with R-24 zoning, the property offers future expansion or redevelopment potential (buyer to verify), adding long-term value beyond the existing improvements. Unit mix consists of (3) 2-bedroom and (3) 1-bedroom units. Long-term month-to-month tenants provide flexibility for future improvements and repositioning. Current rents are approximately 40% below projected market rents following renovations, creating exceptional value-add potential. Additional income is generated through the on-site common laundry, and current tenants reimburse the owner for utilities, helping offset operating expenses. Additional features include ample parking, a roof with substantial remaining useful life, and recently replaced upper decks. Ideally located in downtown Carnation, just minutes from Snoqualmie, with convenient access to SR 520, Microsoft, Redmond, and Bellevue. A compelling opportunity to acquire a value-add multifamily asset with flexible financing, strong upside, and long-term appreciation potential in one of King County's most supply-constrained rental markets.

Home Facts

Multi-Family

Built in 1964

Subdivision & Development:

Carnation

Price Summary

1,375,000

$349 per Sq. Ft.

MLS #:

2542138

Last Updated:

August 2, 2026, 11:12 AM


Rooms & Interior

Interior

Living Area:

3,936 Sq. Ft.


Structure

Structure

Building Area:

3,936 Sq. Ft.

Year Built:

1964


Lot

Lot Size (Sq. Ft):

15,152


Finances & Disclosures

Finances

Price:

$1,375,000

Price per Sq. Ft:

$349 per Sq. Ft.

MLS Logo
Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of August 2, 2026. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listing information is provided for consumers' personal, non-commercial use, solely to identify prospective properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Information deemed reliable but not guaranteed. Copyright © 2026 MLS GRID. All Rights Reserved.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.