Overview

Highlights

• Centrally Located with Ease of Access – Nestled off the I-5 / Highway 18 Interchange providing efficient routes in all directions and additional options via neighborhood light rail servicing routes to Seattle & Tacoma.
• Maximize Immediate Returns – Investors can unlock instant value by leveraging below-market rents and streamlining operational costs, rapidly enhancing immediate returns.
• Development Opportunity– Encompassing 18,000 SF of R-20 zoned land near Downtown Auburn, Knickerbocker Mansion offers the possibility of re-development via Townhomes or sub-division (Buyer to Verify).

Description

Lee & Associates Northwest is proud to present the Knickerbocker Mansion, a premier investment opportunity in downtown Auburn, offering strong financial upside through market rents and operational efficiencies. Built in 1906 as a grand estate, this historic property has been reimagined as a six-unit apartment building, featuring a balanced mix of studio and 1-bedroom units ranging from 300 to 755 SF.

Ideally positioned at the I-5 / Highway 18 interchange, tenants benefit from seamless connectivity, while Auburn Train Station is just steps away, providing direct service to Seattle and Tacoma, a key draw for commuters. Auburn’s economic landscape is anchored by major employers such as Boeing, Starbucks, and Pepsi, driving sustained rental demand. Possessing 18,000 SF of land, Investors have a unique opportunity to unlock additional value through redevelopment and a potential multi-lot subdivision

Recent capital improvements include —a fully replaced natural gas fired boiler and control system, new water heater, installation and replacement of new & existing insulation, preventative industrial sump pump, and a recently replaced roof—greatly helping enhance operational efficiency and asset longevity. With its historic charm, central location, and strong financial upside, Knickerbocker Mansion is a unique opportunity to capitalize on stable cash flow today, with a clear runway for increased future returns.

Location

Built in 1906 as an estate, this historic property has been re-energized as a six-unit apartment building, featuring a balanced mix of studio and 1-bedroom units ranging from 300 to 755 SF.

Ideally positioned at the I-5 / Highway 18 interchange, tenants benefit from seamless connectivity, while Auburn Train Station is just steps away, providing direct service to Seattle and Tacoma, a key draw for commuters. Auburn’s economic landscape is anchored by major employers such as Boeing, Starbucks, and Pepsi, driving sustained rental demand. Occupying 18,000 SF of land, Investors have a unique opportunity to unlock additional value through redevelopment and a potential multi-lot subdivision

Recent capital improvements include — fully replaced natural gas fired boiler and control systems, new water heater, installation and replacement of new & existing insulation, preventative industrial sump pump, and a recently replaced roof—all of which greatly help enhance operational efficiency and asset longevity. With historic charm, central location, and strong financial upside, Knickerbocker Mansion is an uncommon opportunity to generate steady cash flow now and possess the opportunity of significant future upside.

Contact Broker