James & Angie Smith

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Listing provided courtesy of Torre RealtyNWMLSas Distributed by MLSGrid- MLS# NWM2391346MLS Provider

306 2nd ST NEAuburn, WA 98002

Multi-Family · 7 Beds · 0.15 Acres
$989,000 Active

306 2nd ST NE Overview

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Turn-key 5 unit rental property in the heart of Auburn! This fully rented investment property is walking distance to Main Street with all the shops, restaurants and public transportation. The building has a brand new roof and siding, and all units have been recently updated—no major work needed. 100% occupancy with zero vacancies and a waitlist. Some tenants have been here for over 7 years and would love to stay. There’s off-street parking in back for up to 6 cars, plus an on-site coin-op laundry room that brings in an extra $200/month. This is a solid, low-maintenance rental property in a great location with strong tenant demand. Ready to go from day one.

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306 2nd ST NE Facts & Features

  • Type Multi-Family
  • Lot 0.15 Acres

Details

General

Association/HOA

  • Association Fee: $0.00

School Information

  • School District: Auburn
  • Elementary School: Washington Elementary
  • Middle Or Junior School: Cascade Mid
  • High School: Auburn Snr High

Income/Expenses

  • Other Expense: 20292
  • Electric Expense: 1000
  • Fuel Expense: 1550
  • Gross Scheduled Income: 66303
  • Insurance Expense: 1570
  • Net Operating Income: 33784
  • Total Expenses: 32519
  • Total Monthly Income: 5545
  • Water/Sewer/Garbage: 1500

Building Information

  • New Construction: No
  • Year Built: 1922

Location/Region

  • Country: US
  • County Or Parish: King
  • MLS Area Major: 310 - Auburn
  • Subdivision Name: Auburn

Community/Development

  • Amenities: Basement,Coin Op Laundry,Storage

Tax Information

  • Tax Annual Amount: $6,607.00
  • Tax Year: 2024

General Information

  • Listing Terms: Cash, Conventional, Owner Will Carry
  • Parcel Number: 5568200095
  • Possible Use: Multi-Family
  • Property Condition: Good
  • Property Sub Type: Multi Family
  • Property Type: Residential Income
  • Senior Community: No
  • Special Listing Conditions: None

Interior

Beds/Baths

  • Bedrooms Upper: 0

Building Interior

  • Building Area Total: 0
  • Building Area Units: Square Feet
  • Calculated Square Footage: 0
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0

General Information

  • Cooling: No
  • Fireplace: No
  • Fireplaces Total: 0
  • Flooring: Laminate
  • Foundation Details: Poured Concrete
  • Heating: Yes
  • Leasable Area: 3890
  • Living Area: 0
  • Main Level Bathrooms: 0
  • Power Production Type: Electric,Natural Gas
  • Stories Total: 3

Exterior

Parking Information

  • Open Parking Spaces: 6
  • Open Parking: Yes
  • Parking Uncovered Spaces: 6

Lot Information

  • Irrigation Water Rights: No
  • Lot Size Acres: 0.1517
  • Lot Size Dimensions: 6608
  • Lot Size Square Feet: 6608
  • Lot Size Units: Square Feet
  • Elevation Units: Feet
  • Water Source: Community

Waterfront/View

  • View: No
  • Waterfront: No

Building Exterior/Construction

  • Roof: Composition
  • Structure Type: Quadruplex

General Information

  • Carport Spaces: 0
  • Carport: No
  • Covered Spaces: 0
  • Exterior Features: Wood, Wood Products
  • Number Of Units Total: 5
  • Sewer: Sewer Connected

Unit Information

Unit 4 Details

  • Actual Rent: 1000
  • Beds Total: 1
  • Baths Total: 1

Unit 3 Details

  • Actual Rent: 1090
  • Beds Total: 1
  • Baths Total: 1

Unit 2 Details

  • Actual Rent: 1180
  • Beds Total: 2
  • Baths Total: 1

Unit 1 Details

  • Actual Rent: 1225
  • Beds Total: 3
  • Baths Total: 1

Unit 5 Details

  • Actual Rent: 850
  • Beds Total: 0
  • Baths Total: 1

306 2nd ST NE Neighborhood

Community

98002 (AUBURN) Demographics

36
Median Age
4,666
Population Density (per sq. mile)
28%
College Educated
$59,097
Estimated Median Income
6,151
Estimated Total Home Owners
7,011
Estimated Total Renters
47% / 53%
Estimated Owner / Renter Divide
3
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

306 2nd ST NE Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

306 2nd ST NE Market Data

Based on the last 30 days in this zip code

$342,336
Average List Price
$249
Average Price per Square Foot
27
Properties Sold
75
Average Days on Market
125
Properties for Sale
Calculations provided by Reliance Network

306 2nd ST NE History

Date Event Value Agent
6/20/2026Source: NWMLS Price Reduction
$989,000 -0.6%
2/5/2026Source: NWMLS Price Reduction
$995,000 -0.4%
9/12/2025Source: NWMLS Price Reduction
$999,000 -2.5%
8/27/2025Source: NWMLS Price Reduction
$1,025,000 -6.0%
6/12/2025Source: NWMLS Added to Database
June 12, 2025