PRICE ADJUSTMENT - EVERETT 2044 REDEVELOPMENT MU-7 (7-STORY) 6.00% CAP RATE A rare 2-parcel assemblage in Everett's highest-velocity growth corridor — offered at $2,30,000 ($2,090,000 main building + $210,000 development parcel). This combined footprint is a textbook Covered Land Play: bankable cash flow today,… Read More transformational upside tomorrow. CASH FLOW + VALUE-ADD: 16 existing units — retail storefronts and apartments — deliver a proven 6.00% in-place cap rate at $2,090,000 against the main parcel. Rents sit materially below market, creating an immediate path to compress that gap and drive NOI higher from day one. Underutilized basement and storage areas represent untapped income with minimal capital outlay. THE ASSEMBLAGE ADVANTAGE: Two parcels deliver the depth and scale single-lot sites simply cannot replicate. The development parcel alone represents significant value at $310,000 for a 3,000 SF lot in this corridor. Unlock maximum Floor Area Ratio, optimized parking configurations, and institutional-grade mid-rise construction potential under Everett's new TOD mandates. This footprint is purpose-built for what's coming. EVERETT 2044 VISION: Zoned MU-7 (Mixed Urban, 7-Story) in Everett's designated high-density growth corridor. Positioned on a high-visibility arterial with 30,000+ VPD, steps from the future Sound Transit Light Rail station. The city's blueprint for density is written — this parcel is inside it. Read Less
Listing courtesy of KW Everett
Listing Snapshot
Cumulative Days On Market
108
Days on Website
109
Last Updated
Property Type
Commercial Industrial
Lot Size
0.27 Acres
Year Built
1968
Property Tax
$11,541
MLS Number
2475831
30 Days Snapshot Of 98203
$692k
+4%
(avg) sold price
30
-11%
homes sold
56
+24%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Building Area Total: 0, Building Area Units: Square Feet, Calculated Square Footage: 0, Elevation Units: Feet, Living Area: 0, Structure Type: "Unspecified", Year Built: 1968, Year Built Effective: 1968
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listings last updated on ,
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