3502 Norton Avenue, Everett, WA 98201
- $1,455,000
- 9,698
- SqFt
Listing courtesy of John L. Scott Snohomish. Selling Office: The Preview Group.
- Sold Price
- $1,455,000
- List Price
- $1,499,000
- Status
- SOLD
- MLS#
- 2471053
- Closing Date
- Apr 16, 2026
- Days on Market
- 18
- Style
- 56 - 10+ Units
- Finished SqFt
- 9,698
- Area Total SqFt
- 9698
- Lot Size (sq ft)
- 16,988
- Sewer
- Sewer Connected
Property Description
Rare multifamily opportunity in Everett with multiple income streams and strong value-add upside. This offering includes an adjacent 11-unit apartment building (4 stories) and a single-family home (SFR) with private driveway parking and potential for future condo conversion. The apartment building features a mix of SROs (kitchenette + shared bath), studios (2 with exterior entrances), and 1BR units. All units are separately metered. Property highlights include updated plumbing and electrical, historic character, and a distinctive spiral staircase fire escape. The basement contains coin-op laundry and extensive unused space with separate entrance and bathroom, ideal for storage, modernized laundry, office space, or potential unit conversion (subject to permits). Additional income potential from five rentable garages, dedicated parking lot, abundant off-street and street parking, shared playground, and green space. Prime location in a quiet residential neighborhood with easy access to downtown Everett. Perfect for investors seeking stabilized cash flow, value-add improvements, and long-term appreciation.
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Additional Information
- List Date
- 2026-03-29 00:00:00
- Community
- Everett
- Net Operating Income
- $99,264
- Gross Adjusted Income
- $165,300
- Gross Scheduled Income
- $174,000
- Total Monthly Income
- $165,300
- Insurance Expenses
- $12,000
- Gross Rent Multiplier
- 8.6
- Total Expenses
- $66,036
- Cap Rate
- 6.62
- Vacancy Rate
- 5
- Total Number of Units
- 4
- Unit Name
- 3502
- Potential Terms
- Cash, Conventional, Rehab Loan, See Remarks
- Year Built
- 1890
- View
- Territorial
- Roof
- Composition, Metal
- Site Features
- Fenced-Partially
- Other Expenses
- 54036
- Energy Source
- Electric, Natural Gas
- School District
- Everett
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Buyer To Verify
- Total Monthly Income
- $165,300
- Gross Scheduled Income
- $174,000
- Vacancy Rate
- 5
- Gross Adjusted Income
- $165,300
- Tax Year
- 2025
- Insurance Expense
- $12,000
- Total Expenses
- $66,036
- Net Operating Income
- $99,264
- Gross Rent Multiplier
- 8.6
- Cap Rate
- 6.62
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.