116 Madison Ave N, Kent, WA 98032

Multifamily · Kent · Seattle-Bellevue metro, WA

One of 290 reachable multifamily buildings in Kent. Larger than 79% of multifamily buildings in Kent (median 8,668 SF), derived from assessor records.

Usable building area
90,481 SF, King County Assessor
County gross area
190,960 SF, King County Assessor
Excluded area
100,479 SF outside primary usable area
Lot size
30,693 SF, King County Assessor
Year built
2021, King County Assessor
Stories
7, King County Assessor
Predominant use
Apartment(mixed Use), King County Assessor
Units
157, King County Assessor
Assessed value
$44,696,000, per the King County Assessor (not a market appraisal)
Assessed value per usable SF
$493.98/SF, derived from assessor records
Usable area / lot
2.95, derived from assessor records
Vintage
2020s vintage
Zoning
DCE, King County
County use code
Apartment(Mixed Use)

Nearby comparable buildings

Same building type, by distance. Assessor facts only; not an opinion of value.

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Sale history and market context

MakeMe Estimate: $40.6M (estimated market value), with a likely range of $38.8M to $44.2M (half of recent verified sales in this segment landed inside that range). Based on 7 verified arm's-length comparable sales (through 2026-06-01). Not an appraisal. How this estimate works. About $258K per unit at the midpoint (157 units).

lower confidence: 2 comparable sales within 3 miles; nearest 0.9 mi. Last arm's-length sale: $3,150,000 in 2021. The market has moved since; the estimate reflects current county values and ratios, not that price. Comparable-sale caveat: the estimate is 60% above the $280.58/SF median of the shown comparable sales.

Comparable sales used as evidence

Recorded arm's-length sales of similar buildings nearby; nearer and more recent sales rank first. Buyer and seller names are withheld. Get this data via API.

Market context: Multifamily in Kent

median verified sale $296.88/SF over the trailing 24 months; median $231,643 per unit; 8 sales in the last 12 months and 20 in 24 (newest verified sale 2026-03); the middle 80% of recent sales traded at 0.93x to 1.28x their county assessed value, median 1.04x (20 sales with usable county values).

  • 2022: $307.32/SF median (10 sales)
  • 2023: $288.08/SF median (7 sales)
  • 2024: $326.03/SF median (10 sales)
  • 2025: $252.63/SF median (10 sales)

This estimate sits at 0.91x county assessed value, the 5th percentile of those recent sale premiums.

Computed from 370 verified arm's-length sales in King County public records (20 in the trailing 24 months). Free public records. Not an appraisal.

Last sold: 2021-09-30 for $3,150,000 (recorded arm's-length sale).

Ownership tenure is not asserted for this parcel: the most recent recorded transfer is a non-market conveyance.

Source: King County recorded sales extract; buyer and seller shown only when a company or organization. Individual names are withheld.

Value over time

$0$20M$40M$60M202420252026$40.6M$44.7MCounty assessed valueMakeMe Estimate range

Dark line: county assessed value per King County tax rolls. Blue line: our estimate; dashed years are a modeled backcast built from recorded arm's-length sales in the building's segment, not estimates published at the time, and years without enough sales stay unmodeled. The shaded range is the model's measured error band; about half of verified sales in the segment land inside it. Diamonds: recorded arm's-length sales. Not an appraisal. How this estimate works.

Land, site, and value history

Assessed value moved from $46,374,401 (2024) to $44,696,000 (2026), down 4% over 2 years, per county tax rolls. The 2026 roll splits $44,696,000 into $0 land and $44,696,000 improvements.

Taxes

Permit history

Source: King County permit records (newest first).