King County Multifamily Buyer
Sell Your Commercial Property In King County, WA
King County is the economic core of the Puget Sound region, anchored by Seattle and the Eastside tech hubs of Bellevue, Redmond, and Kirkland. Its apartment market ranges from urban mid-rises and new transit-oriented buildings to older garden communities in south-county cities like Kent, Renton, Auburn, and Federal Way.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Cities We Cover: Seattle · Bothell · Burien · Sammamish · Shoreline · Des Moines — County seat: Seattle
King County
Where We Buy In King County
We evaluate apartment buildings of 5+ units across King County — in each city below, plus smaller towns and unincorporated areas countywide.
Local Market Data
King County Apartment Market
Figures gathered October 2026 from public market data.
If you're planning to sell commercial property in King County, WA, now is a market defined by rising rents and tight supply: median gross rent reached $2,092 in the Census Bureau's 2020-2024 American Community Survey, up 30.3% from the 2015-2019 period, while renters make up 44.6% of the county's 941,054 occupied households. King County's 2,287,171 residents and $124,746 median household income support steady demand for apartment buildings across Seattle, Bellevue, Kent and the other cities covered on this page.
Rental vacancy sits at just 5.3%, and 37.6% of housing units are in buildings of five or more units, reflecting a multifamily-heavy stock. Owners of apartment buildings and other income-producing property face a market where rents have climbed faster than income over the past five years, and understanding King County's property tax and tenant-protection rules matters before listing. The sections below cover rents, affordability, city comparisons and assessment practices.
Rent growth outpaces supply
King County's median gross rent rose 30.3% between the 2015-2019 and 2020-2024 ACS periods, outpacing 17.0% growth in 5+ unit buildings.Income growth supports demand
Median household income in King County grew 31.3% over the same five-year span, reaching $124,746 per the 2020-2024 ACS.Tight rental vacancy
Rental vacancy across King County stands at just 5.3%, per the Census Bureau's 2020-2024 American Community Survey housing profile.Who rents in King County
King County's population reached 2,287,171 in the Census Bureau's 2020-2024 American Community Survey, with 941,054 occupied housing units. Renters account for 44.6% of those households, a share concentrated in Seattle, Bellevue and the other cities covered on this page. King County's median year a structure was built is 1983, meaning much of the rental stock predates the current wave of apartment construction.
About 37.6% of King County's housing stock sits in buildings of five or more units, showing how much rental supply comes from mid-size and large apartment properties rather than single-family rentals. Median household income in King County climbed to $124,746, up 31.3% from the 2015-2019 period, giving renters more capacity to absorb rent increases. King County's unemployment rate stood at 4.8% among 1,256,602 employed residents, per the same 2020-2024 ACS.
Rents, growth and affordability
Median gross rent in King County rose to $2,092 per the Census Bureau's 2020-2024 American Community Survey, a 30.3% jump from the 2015-2019 comparison period. Renter households grew 10.4% over the same span, while units in buildings of five or more apartments increased only 17.0%, suggesting new supply has not kept pace with renter growth across King County.
Nearly half of King County renters, 46.8%, spend 30% or more of income on gross rent, per the 2020-2024 ACS. Rental vacancy across King County stands at 5.3%, and HUD's FY2027 Fair Market Rent for a two-bedroom unit in the Seattle-Bellevue HUD area is $2,549, effective October 1, 2026, with a one-bedroom FMR of $2,180.
City-by-city comparison
Rents and renter shares vary widely across King County's cities, from Sammamish's low-density, owner-heavy housing stock to Seattle's renter-majority core. The table below compares the ten largest covered cities on rent, tenure and vacancy, drawn from each city's own 2020-2024 ACS figures.
| City | Median gross rent | Renter share | Share of units in 5+ buildings | Rental vacancy |
|---|---|---|---|---|
| Seattle | $2,030 | 56.3% | 51.4% | 6.1% |
| Bellevue | $2,572 | 48.0% | 42.4% | 6.2% |
| Kent | $1,909 | 42.8% | 33.9% | 4.7% |
| Renton | $1,998 | 45.6% | 33.3% | 4.6% |
| Federal Way | $1,797 | 44.7% | 33.1% | 4.4% |
| Kirkland | $2,401 | 39.2% | 36.3% | 4.5% |
| Auburn | $1,786 | 39.4% | 25.7% | 4.0% |
| Redmond | $2,409 | 56.8% | 46.6% | 4.2% |
| Sammamish | $2,857 | 17.4% | 10.6% | 2.1% |
| Shoreline | $1,985 | 33.7% | 26.8% | 4.8% |
Property taxes and assessment in King County
King County assessors value real property, including apartment buildings, at 100% of true and fair market value under RCW 84.40.030, with assessments reviewed annually. Washington law under RCW 84.55.010 limits the annual growth of a taxing district's total regular levy to 1%, excluding new construction, which constrains how fast tax bills rise even as assessed values climb in King County. Owners should confirm current parcel assessments directly with the King County Assessor's Office.
Sales of apartment buildings and other commercial property in King County are subject to Washington's real estate excise tax (REET) under RCW 82.45, assessed at graduated state rates of roughly 1.1% to 3.0% depending on the sale price tier, plus a local REET component, with no exemption for multifamily or commercial transactions in King County.
What this means if you sell in King County
Owners who sell commercial property in King County, WA are selling into a market with a 5.3% rental vacancy rate, rent up 30.3% over five years, and 44.6% of households renting rather than owning — conditions that typically support investor demand for well-located apartment buildings. Washington's 2025 rent stabilization law also caps annual rent increases on most existing tenancies at 7% plus CPI or 10%, a factor buyers weigh when underwriting an acquisition in King County.
Before listing, sellers should factor in King County's REET obligation under RCW 82.45 and confirm the property's current assessed value with the county assessor. Selling an apartment building in King County to a multifamily buyer in King County familiar with these rules, rather than running a traditional listing process, can shorten the timeline for owners of commercial property throughout King County.
Local Knowledge
Selling Multifamily In Washington
What we factor into every King County offer:
More about Washington →- Washington's 2025 rent stabilization law caps most annual rent increases at 7% plus CPI or 10%.
- Security deposits must be itemized and returned within 21 days after a tenancy ends.
- King County assessors value apartment buildings at 100% of fair market value annually.
- Commercial sales owe Washington's REET under RCW 82.45, with no multifamily exemption.
Property Tax
Property Tax In King County For Apartment Owners
Homeowners in King County pay a median of $7,114 a year in property tax on a median home value of $859,900, an effective rate of about 0.83%, according to the Census Bureau’s 2020-2024 American Community Survey. That is above the Washington statewide average of 0.75%.
How property tax works in Washington: classes, assessment and appeals →Estimate a building’s tax bill with the property tax calculator →
- Those figures describe owner-occupied homes. An apartment building can be assessed on a different basis or in a different class, so its bill as a share of value may differ.
- A sale can reset the assessed value. Before you price a King County building, check how Washington reassesses property after a transfer and model the buyer’s new tax bill.
- Pull the actual tax bill from the King County assessor or tax collector. City, school and special-district levies stack on top of the county rate.
Seller Guides
King County Seller Situations
Learn More
Taxes & Rules For King County Property
The Washington rules that shape any deal in King County: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Our Buy Box
What We Buy In King County
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
How Selling To Us Works
- 01
Submit The Deal
Send the address, unit count, asking price, and a rent roll or T-12 if you have them.
- 02
Initial Review
We review it against our buy box and give clear feedback — typically within 48 hours.
- 03
Underwriting & LOI
If it fits, we underwrite in detail and submit a written letter of intent.
- 04
Diligence & Close
Inspections and financing on the agreed timeline, then a professional, predictable closing.
King County Seller FAQ
How much has rent grown in King County?
Median gross rent in King County reached $2,092 in the Census Bureau's 2020-2024 American Community Survey, up 30.3% from the 2015-2019 comparison period. Renter households grew 10.4% over the same span, while supply in buildings of five or more units grew only 17.0%, keeping rental vacancy near 5.3%.
What is the property tax process for apartment buildings in King County?
King County assessors value apartment buildings and other real property at 100% of true and fair market value under RCW 84.40.030. Washington law caps annual growth in a taxing district's total regular levy at 1% under RCW 84.55.010, though assessed values can rise faster. Owners should confirm current figures with the county assessor.
Is there a transfer tax when I sell commercial property in King County, WA?
Yes. Washington's real estate excise tax (REET) under RCW 82.45 applies to commercial and multifamily sales at graduated state rates of roughly 1.1% to 3.0% depending on price, plus a local REET component, with no exemption for apartment building sales.
Does Washington limit rent increases in King County?
Washington's 2025 rent stabilization law (HB 1217) caps annual rent increases on most existing tenancies at 7% plus CPI or 10%, whichever is lower. Cities cannot pass local rent-control ordinances under RCW 35.21.830, making the state cap the controlling limit across King County.
How do I sell commercial property in King County, WA?
Send the address, unit count, and any financials. We review King County apartment buildings of 5+ units, give feedback typically within 48 hours, and follow with a written letter of intent if it fits.
Do you buy apartment buildings throughout King County?
Yes. We evaluate multifamily properties across King County, including Seattle, Bothell, Burien, Sammamish, Shoreline, Des Moines, Issaquah, Maple Valley, Mercer Island, SeaTac, Bellevue, Kent, Renton, Federal Way, Kirkland, Auburn, and Redmond, as well as smaller towns and unincorporated areas. Every property is reviewed on its own fundamentals.
What size King County properties do you buy?
Apartment buildings and income-producing residential properties with 5 or more units. Our sweet spot is 15–25 units, and we review larger communities with capital partners.
Will you buy a property that needs work or has high vacancy?
Yes. We underwrite value-add, mismanaged, and distressed properties as they are today — no repairs or lease-up required before selling.
Can I sell rental property in King County with tenants in place?
Yes. We buy apartment buildings with tenants in place and keep existing leases intact. As a commercial real estate buyer focused on 5+ unit properties, we underwrite the current rent roll as it stands.
Do I need a broker to sell my apartment building in King County?
No. You can work with us directly, or your broker can bring the deal to us. Either way, conversations stay confidential.
How do property taxes factor into a King County offer?
Property is assessed at the county level (the county seat is Seattle), within Washington rules. Washington assesses property annually at market value, and the state’s graduated real estate excise tax applies at sale. We model both the post-sale property tax and transaction costs when we prepare an offer.
Submit A Deal
Have A Property In King County?
Tell us about it. Owners, agents, brokers, and deal finders are all welcome — conversations are confidential.
