About 412 Mill Avenue S
Mill Avenue Apartments is a low-maintenance 8-unit multifamily in-vestment well suited for a private investor. The property offers eight 1-bedroom / 1-bath corner units (±649 SF), four of which include in-unit washer and dryer, along with common laundry on-site. It is located on a quiet hilltop street with excellent territorial views and sits a stone’s throw from downtown Renton, with convenient access to downtown Seattle’s CBD. Built in 1966 with a low-maintenance brick facade and a full EPDM roof replacement in 2017, the asset is offered at $1,550,000 ($193,750 per unit). Current rents sit below market, providing clear upside with limited capital required and an easily achievable market cap rate of 6.41%. Demand is supported by Boeing’s approximately 12,600-person Renton workforce, Blue Origin’s Kent operations, and the broader Kent Valley employment base of over 230,000 jobs. The property features simple operations and convenient access to freeways, Sea-Tac Airport, parks, and everyday amenities.
Features of 412 Mill Avenue S
| MLS® # | 2566463 |
|---|---|
| Price | $1,550,000 |
| Square Footage | 5,196 |
| Acres | 0.12 |
| Year Built | 1966 |
| Type | Residential Income |
| Sub-Type | Multi Family |
| Status | Active |
Community Information
| Address | 412 Mill Avenue S |
|---|---|
| Area | 340 - Renton/Benson Hill |
| Subdivision | Renton |
| City | Renton |
| County | King |
| State | WA |
| Zip Code | 98057 |
Amenities
| Parking Spaces | 2 |
|---|---|
| View | Partial, Territorial |
| Is Waterfront | No |
Interior
| Heating | Baseboard |
|---|---|
| Cooling | None |
| Fireplace | No |
| # of Stories | 3 |
Exterior
| Exterior Features | Brick, Wood |
|---|---|
| Lot Description | Alley, Curbs, Paved, Sidewalk |
School Information
| District | Renton |
|---|
Additional Information
| Date Listed | August 7th, 2026 |
|---|---|
| Days on Market | 20 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Westlake Associates, Inc. |
|---|