Opportunity to acquire a professionally managed, turnkey, two-building, five-unit multifamily investment on a single tax parcel in the Riverside neighborhood of North Everett. The offering consists of a two-story triplex fronting Baker Avenue and a duplex accessed via Fulton Avenue. Both buildings are well maintained and feature upgraded double pane… Read More vinyl windows, new roofs as well as lots of plumbing upgrades. 3 of the 5 units are renovated with new kitchens, bathrooms, flooring and paint. Tenants are professionally screened and have an exceptional history of on-time payments with virtually zero delinquency. Current cap rate of 6.18% with pro forma upside to 6.88% or beyond as below-market units are brought to current rents — providing a turnkey property with some value add potential. Strong Everett rental fundamentals backed by Boeing, Naval Station Everett, Amazon, and a robust health care economy. Gross rental income of $91,884 annually with pro forma income of $100,200 or more depending on what extent of upgrades are performed on the two unrenovated units. Read Less
Listing courtesy of Opal Blue Real Estate, LLC
Listing Snapshot
Cumulative Days On Market
19
Days on Website
18
Last Updated
Property Type
Multi Family
Square Ft.
3,350
Lot Size
0.14 Acres
Year Built
1910
Property Tax
$7,348
MLS Number
2547331
30 Days Snapshot Of 98201
$555k
-7%
(avg) sold price
21
-19%
homes sold
49
-7%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Building Area Total: 3350, Building Area Units: Square Feet, Calculated Square Footage: 3350, Elevation Units: Feet, Leasable Area: 3350, Living Area: 0, Number Of Units Total: 5, Stories Total: 2, Structure Type: Multi Family, Units In Building Total: 5, Year Built: 1910
Expenses
Other Expense: 5000
Exterior Features
Exterior Features: "Wood", "Wood Products"
Fireplaces
Fireplaces Total: 0
Floors
Flooring: "Vinyl Plank", "Carpet"
Foundation
Foundation Details: "Pillar/Post/Pier", "Poured Concrete"
Sewer: Sewer Connected, Sewer Company: City of Everett
Utilities
Electric Expense: 0, Fuel Expense: 0, Power Company: SnoPUD, Power Production Type: "Electric", "Natural Gas", Water Company: City of Everett, Water Source: Public
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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