Opportunity to acquire a well-maintained, professionally managed, five-unit multifamily investment in the desirable Bayside neighborhood of North Everett — just blocks from the Everett Waterfront, and walking distance to Grand Ave Park and Downtown. The building sits on a corner lot, includes a stand-alone two-car garage and boasts amazing views… Read More from the top 2 floors. Tenants are professionally screened and have an exceptional history of on-time payments with virtually zero delinquency. The current ownership group has invested nearly $250,000 in capital improvements in the building including all-new double-pane windows, new roof, full exterior paint, extensive PEX plumbing upgrades and complete remodels of Units 1, 2, 3, and 4. The result is a largely turnkey asset in a high-demand rental corridor supported by Boeing, Naval Station Everett, Amazon, and a growing healthcare economy. Current cap rate of 6.26% with pro forma upside to 6.83% as the one remaining unrenovated unit is brought to market. Gross rental income of $96,360 annually with pro forma income of $103,260 or more. Great opportunity to capitalize on one of the highest demand housing markets in Everett. Read Less
Listing courtesy of Opal Blue Real Estate, LLC
Listing Snapshot
Cumulative Days On Market
27
Days on Website
26
Last Updated
Property Type
Multi Family
Square Ft.
3,070
Lot Size
0.14 Acres
Year Built
1905
Property Tax
$6,003
MLS Number
2547568
30 Days Snapshot Of 98201
$566k
-3%
(avg) sold price
26
+4%
homes sold
51
+59%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Building Area Total: 3070, Building Area Units: Square Feet, Calculated Square Footage: 3070, Elevation Units: Feet, Leasable Area: 3070, Living Area: 0, Number Of Units Total: 5, Stories Total: 3, Structure Type: Multi Family, Units In Building Total: 5, Year Built: 1905
Property Condition: Good, Site Features: Fenced-Partially, Outbuildings
Roof
Roof: "Composition", "Flat"
Sewer
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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