Knol Apartments presents a fantastic opportunity for investors to purchase a fully stabilized, 215-unit apartment complex with best-in-class renovations in the thriving Seattle submarket of Kent.
The Kent Valley’s impressive job growth among major employers in the industrial sector continues to draw new residents to the area, while development of new retail centers — including Kent Station, The Landing in Renton, and Covington Square — continue to transform Kent from its industrial roots to an urbanizing destination.
Exceptionally executed renovations to Knol make it the top destination for Kent’s East Hill. The property is fully modernized with beautiful resident amenities and fully renovated units with updated finishes and in-unit washers and dryers for all one- and two-bedroom units.
Kent and King county’s south-end markets have the most consistent rental rate appreciation in the entire region. Year-over-year rental rate growth averaged greater than 6% every year for the past 5 years, while vacancy rates remain sub-5%.
This fully updated property provides a perfect palate to continue pushing rental rates and selectively add new resident amenities to further drive rental rates. Knol’s nearly 10 acres of park-like setting offer ample room for additional outdoor amenities, along with the ability to add backyards to units and carports/covered parking.
Kent, located in the center of the Seattle-Tacoma metropolitan area, is the 6th-largest city in Washington State. The Kent Valley is home to one of our region’s largest employment bases, with hundreds of thousands of blue- and grey-collar jobs, and features captivating neighborhoods, award-winning parks, exceptional school districts, and nationally accredited police and fire departments.
Miles from both Seattle & Tacoma
Largest city in Washington
Median Age (3 Mile Radius)
Largest manufacturing & distribution center in the U.S.
Largest industrial park on the West Coast
Parks, trails, play fields & open spaces
Kidder Mathews was the exclusive Listing Brokerage for this Offering. Dylan Simon, Jerrid Anderson, and Matt Laird exclusively represented the Seller in the sale of Knol Apartments.