2601 Oakes Avenue, Everett, WA 98201
- $995,000
- 3,810
- SqFt
Listing courtesy of Lee & Associates Commercial RE. Selling Office: Kelly Right RE of Seattle LLC.
- Sold Price
- $995,000
- List Price
- $995,000
- Status
- SOLD
- MLS#
- 2161588
- Closing Date
- Dec 30, 2023
- Days on Market
- 50
- Style
- 54 - 4-Plex
- Building Condition
- Good
- Finished SqFt
- 3,810
- Area Total SqFt
- 3810
- Annual Tax Ammount
- 4464
- Lot Size (sq ft)
- 6,098
- Sewer
- Sewer Connected
Property Description
*Email Brokers to schedule tour 10/6/2023 11AM-2PM* 2601 Oakes Ave offers residents a 95 walk score with ample access to downtown Everett and local commuting/transportation routes. The opportunity presents a projected 21%+ upside on base rents through further renovations equating to a $338/mo per unit lift. The potential to convert the corner building to a SFR house makes this a perfect owner-occupied investment, or live in one apartment and rent the remaining three. Additionally, the R-4 zoning designation could offer a future assemblage/redevelopment opportunity. With nearly $129,000 spent on CAP Ex in the last two years including electrical, the asset is in great condition and can be viewed as a light value-add or turnkey investment.
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Additional Information
- List Date
- 2023-11-10 00:00:00
- Community
- Everett
- Net Operating Income
- $54,791
- Gross Adjusted Income
- $79,116
- Gross Scheduled Income
- $83,280
- Total Monthly Income
- $6,940
- Insurance Expenses
- $2,600
- Water/Sewer/Garbage Expenses
- $5,520
- Gross Rent Multiplier
- 11.95
- Total Expenses
- $24,325
- Cap Rate
- 5.51
- Vacancy Rate
- 5
- Total Number of Units
- 4
- Unit Name
- 2601
- Potential Terms
- Cash Out, Conventional, FHA, Owner Financing, Rehab Loan, See Remarks
- Year Built
- 1915
- View
- Territorial
- Roof
- Composition
- Site Features
- Deck, Fenced-Partially, Patio
- Other Expenses
- 11741
- Energy Source
- Electric
- School District
- Everett
- Total Monthly Income
- $6,940
- Gross Scheduled Income
- $83,280
- Vacancy Rate
- 5
- Gross Adjusted Income
- $79,116
- Tax Year
- 2023
- Insurance Expense
- $2,600
- W/S/G Expenses
- $5,520
- Total Expenses
- $24,325
- Net Operating Income
- $54,791
- Gross Rent Multiplier
- 11.95
- Cap Rate
- 5.51
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.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.