Price Reduction - Water Views
Address
24029 24th Avenue S, Des Moines, WA
Price
$ 699,000
Property Attributes
- ID#2542088
- TypeMulti-Family
- CountyKING
- CityDes Moines
- AreaDes Moines-Redondo
- NeighborhoodDes Moines
- Zip98198
- StyleDuplex
- Year Built1959
- Taxes$ 8498
- Price$ 699,000
- Bedrooms5
- Full Bathrooms4
- Half Bathrooms0
- Sqr Footage2650
- Lot Size0.316 Acres
Data Source:
Northwest Multiple Listing Service (NWMLS)
Property Description
Exceptional opportunity for homeowners and investors alike! This versatile 5-bedroom, 4.5-bath property offers strong income potential, flexible living arrangements, and future development possibilities on a generous lot. With separate entrances for both levels, it's ideal for multigenerational living, owner-occupants seeking rental income, or savvy investors. The main level features a gourmet kitchen, spacious living areas, and three generously sized bedrooms with two full bathrooms. The lower level offers multiple income-producing units, each with its own bathroom, while the larger unit includes a full kitchen. Currently partially rented on a month-to-month basis, the property has the potential to generate approximately $6,000 per month in rental income, including about $3,000 from each level. With a projected cap rate approaching 6%, this is a rare investment opportunity in a desirable location. Situated on a large lot surrounded by established single-family homes and attractive new construction, the property offers immediate cash flow and long-term upside. Explore the potential to build your dream home while collecting rental income from the existing residence. Also listed as a duplex, this unique offering provides exceptional flexibility and value. Conveniently located within walking distance to the light rail station, with easy access to shopping, dining, and major employment centers, this is an opportunity you won't want to miss.
| Elementary School | Middle School | High School |
|---|---|---|
| Parkside Primary Elementary School | Pacific Mid | Mount Rainier High |
| Price History | |
|---|---|
| 6/19/2026 | Listed $799,000 |
| 8/1/2026 | 6$759,000 |
| 9/22/2026 | 8$699,000 |
General Features
| Sewer | Sewer Connected |
|---|---|
| Heating | Baseboard,Wall Furnace |
| Cooling | None |
| Possession | Closing |
| Roof | Composition |
| Garage Spaces | 1 |
| Security Features | Partially Fenced |
| Year Built | 1959 |
| View | Mountains,Sound,Territorial |
| Property Subtype | Multi Family |
| Tax Year | 2026 |
| Building Name | Puget Sound Park To Des Moines |
| County | King |
| Net Operating Income | 47801 |
| Insurance Expense | 1500 |
| New Construction | No |
| Property Type | Residential Income |
| HOA | No |
| Subdivision Name | Des Moines |
| Possible Use | Multi-Family,Residential |
| Special Listing Conditions | None |
| Status | Active |
| Directions | On HWY 99,west on S 240th St then south on 24th Ave S to the property on the west side of the road. |
| High School | Mount Rainier High |
| City | Des Moines |
| Senior Community Y/N | No |
| High School District | Highline |
| Zoning Description | Multi-Family,Residential |
| Number Of Units Total | 3 |
| MLS Area | 120 - Des Moines/Redondo |
| Lot Size Units | Square Feet |
| Lot Size Square Feet | 13765 |
| Carport Spaces | 1 |
| Carport Y/N | No |
| Listing Terms | Cash,Conventional |
| Elementary School | Parkside Primary |
| Tax Annual Amount | 8498.64 |
| Electric Expense | 6000 |
| Middle/Junior High School | Pacific Mid |
| Property Condition | Good |
| Public Remarks | Exceptional opportunity for homeowners and investors alike! This versatile 5-bedroom,4.5-bath property offers strong income potential,flexible living arrangements,and future development possibilities |
| Leasable Area | 2650 |
| Virtual Tour | https://my.matterport.com/show/?m=dLKb74tCdwi&mls=1 |
| Structure Type | Duplex |
| Building Area Units | Square Feet |
| Standard Status | Active |
| Water Company | Highline |
| Units Below Grade | false |
| Units In Building Total | 2 |
| Water Sewer Garbage | 3600 |
| Property Style | 52 - Duplex |
| Cap Rate | 5.98 |
| NWM_ShowMapLink | Yes |
Interior Features
| Flooring | Laminate,Vinyl,Carpet |
|---|---|
| Total Stories | 2 |
| Air Conditioning Y/N | No |
| Heating Y/N | Yes |
| Fireplace Y/N | No |
| Power Production Type | Electric,Wood |
Exterior Features
| Exterior Amenities | Wood |
|---|---|
| Parking Features | RV Parking |
| Lot Features | Paved,Sidewalk |
| Water Source | Public |
| Total Parking | 10 |
| Foundation Details | Poured Concrete |
| Building Area Total | 2650 |
| Lot Size Acres | 0.316 |
| Waterfront Y/N | No |
| Covered Spaces | 2 |
| Irrigation Water Rights Y/N | No |
| Site Features | Cable TV,Deck,Dog Run,Electric Car Charging,Fenced-Partially,High Speed Internet,Patio,RV Parking |
| Parking Uncovered Total | 8 |
| Lot Number | 16 THRU 18 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 98198
Price
Taxes
Year Built
Visits
