23826 Pacific Hwy S, Kent, WA 98032 Development Site — Sale in Kent, WA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Kent, WA 98032

Photos

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Description

+++ SELLER FINANCING +++ TRANSIT-ORIENTED DEVELOPMENT SITE Kent, Washington | Midway Neighborhood and adjacent to the Kent/Des Moines Link light rail station. 25,991 sf (.59 acre) of high-density TOD land Zoned MTC-1, allowing multifamily, hotel, or mixed-use development up to 7 stories / 65 feet. The site benefits from immediate access to Sea-Tac Airport (5 minutes), downtown Seattle (20 minutes), and major employment hubs throughout the Kent Valley. The surrounding submarket has seen 2,000+ apartment units delivered or planned, with limited remaining TOD land supply. Site Size: .50 Acres (25,991 SF) Zoning: MTC-1 (Transit-Oriented, High Density) Max Height: 7 Stories / 65 Feet Max Site Coverage: 80% Current Use: Bar/Restaurant Topography: Flat, on-grade Highline College nearby (13,200+ students; CWU branch campus) Kent Valley employment base: 250,000+ jobs Proximity to Boeing, Blue Origin, aerospace & advanced manufacturing Prime walkable TOD site with strong transit connectivity Flexible zoning for multifamily, hotel, or mixed-use Strong residential demand with constrained TOD land supply Strategic location between Seattle and Tacoma Pro-growth municipality with multifamily incentives available. Current NOI from The Bar/Restaurant is $144,000.

Market Context

This multifamily in Kent, WA is listed for sale. Compare it against other multifamily listings for sale in Kent, WA — view the full market.

As of Q1 2026, the Seattle / Bellevue multifamily market showed a 7.3% vacancy rate, and average asking rents near $2004.00/unit/mo. Source: multiple brokerage reports, Q1 2026.

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Is the Seattle / Bellevue multifamily market tightening or softening?
Vacancy is around 7.3% (Q1 2026).

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