Properties Recently Sold

The Melbourne Building

The Melbourne Building
412 – 418 W Meeker
Kent, WA 98032

Foundation Group, LLC is pleased to present The Melbourne Building, a stabilized mixed-use investment in the heart of revitalized Downtown Kent. Offering immediate cash flow at a 7.00% cap rate, the property provides future upside through continued residential renovations and strategic rent growth. The building features five residential apartments—three of which have been fully updated with modern finishes—plus a non-conforming studio and a refreshed shared laundry facility. Street-level retail has been substantially improved and is anchored by Aladdin Bail Bonds, a national tenant with seven years remaining, alongside a long-term local business, ensuring stable income. With Kent’s growing population, diverse economic base, and strong renter demand driven by affordability and proximity to Seattle, Bellevue, and Tacoma, The Melbourne Building represents a rare opportunity to acquire a durable, income-producing asset with meaningful value-add potential in one of Washington’s fastest-growing submarkets.

 

Listing Agents

Ethan Szmania
P: 206.774.5419
E: Email Ethan

Aaron Locke
P: 206.774.5436
E: Email Aaron

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