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Ranjani Ravi

ranjaniravirealty@gmail.com +1(425) 906-3948

Listed by:Opal Blue Real Estate, LLC • Grant Fosheim

$1,150,000

Est. payment - /mo

6 Beds

5 Baths

3,350 SqFt

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Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,350 sqft

Price per Sqft $343

Subdivision Riverside

MLS Listing ID 2547331

Style 55 - 5-9 Units

Bedrooms 6

Year Built 1910

Annual Tax Amount $7,348

Lot Size 6,098 Sqft

Property Sub-Type Multi Family

Property Description

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 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.

Location

State WA

County Snohomish

Area 740 - Everett/Mukilteo

Interior

Flooring Vinyl Plank, Carpet

Fireplace false

Exterior

Exterior Feature Wood, Wood Products

Amenities Available Cable TV, Deck, Fenced-Partially, Patio

View Y/N Yes

View Mountains, Territorial

Roof Type Composition

Building

Lot Description Dead End Street, Sidewalk

Sewer Sewer Connected

Water Public

New Construction No

Schools

School District Everett

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

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Ranjani Ravi

+1(425) 906-3948

Managing Broker | License ID: 23004133

Managing Broker License ID: 23004133

2519 Baker AVE Everett, WA 98201

Ranjani Ravi

Key Details

Location

Interior

Exterior

Building

Schools

Others