113 -115 W Casino Road, Everett, WA 98204
- $2,600,000
Listing courtesy of COMPASS. Selling Office: COMPASS.
- Sold Price
- $2,600,000
- List Price
- $3,000,000
- Status
- SOLD
- MLS#
- 2299628
- Closing Date
- Dec 31, 2024
- Days on Market
- 59
- Style
- 56 - 10+ Units
- Annual Tax Ammount
- 21353
- Lot Size (sq ft)
- 24,829
- Sewer
- Sewer Connected
Property Description
Professionally managed 13-unit building with two-bedroom apartments, open floor plans, in-unit washer/dryer, and surface parking. In-place rents below market, with potential to achieve rental premiums up to $415 per unit post-renovation. Located just 3 miles from Boeing's Everett facility (30,000+ employees) and close to Amazon and Funko distribution centers. Just half a mile from the upcoming Evergreen Light Rail Station, port of Sound Transit Everett Link Extension (service begins 2037), with 48% of Everett housing renter-occupied, this is an ideal investment to capitalize on Everett's growing demand for multifamily housing.
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Additional Information
- List Date
- 2024-11-02 00:00:00
- Community
- Casino
- Net Operating Income
- $129,879
- Gross Adjusted Income
- $243,450
- Gross Scheduled Income
- $268,631
- Total Monthly Income
- $21,305
- Insurance Expenses
- $5,200
- Gross Rent Multiplier
- 11.17
- Total Expenses
- $97,050
- Cap Rate
- 4.3
- Vacancy Rate
- 7
- Total Number of Units
- 1
- Unit Name
- 113 -115
- Potential Terms
- Cash Out, Conventional
- Year Built
- 2001
- View
- Mountain(s)
- Roof
- Composition
- Site Features
- Deck, Sprinkler System
- Other Expenses
- 70497
- Energy Source
- Electric
- School District
- Everett
- Total Monthly Income
- $21,305
- Gross Scheduled Income
- $268,631
- Vacancy Rate
- 7
- Gross Adjusted Income
- $243,450
- Tax Year
- 2001
- Insurance Expense
- $5,200
- Total Expenses
- $97,050
- Net Operating Income
- $129,879
- Gross Rent Multiplier
- 11.17
- Cap Rate
- 4.3
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.