This exceptional investment opportunity presents a 12-unit apartment building in Everett, WA, offering a compelling return. The property comprises three, two-story buildings totaling 9,702 square feet on a 21,780 square foot lot. Built in 1977 and 1979, the complex features twelve spacious 808 sq ft, two-bedroom, one-bathroom units, each with sub-metered water. All three buildings boast new roofs and a common laundry area for added tenant convenience. Currently operating at 100% occupancy, the property generates a strong NOI of $151,477, representing a 6.31% cap rate. Pro-forma projections indicate a potential NOI of $184,222 and a 7.68% cap rate. The asking price is $2,400,000, or $200,000 per unit. This stabilized, Class B multifamily investment is situated at 109 Casino Rd, Everett, WA 98208, in Snohomish County, and is offered free and clear. The property's strong performance, combined with its prime location in a growing area, makes it an attractive investment prospect. The Everett area benefits from a diverse economy, including aerospace, manufacturing, and technology sectors, contributing to job stability and growth potential. This, coupled with the property's excellent condition and high occupancy rate, positions this investment for continued success and appreciation.
Highlights
12-unit multifamily property in Everett, WA with a proven rental income history.
Twelve 808 sq ft, 2-bedroom, 1-bathroom units, each with sub-metered water.
Features new roofs, common laundry, and a 9,702 sq ft building size on a 21,780 sq ft lot.
Excellent Everett location near amenities, schools, and transportation.
Currently 100% occupied, generating a $151,477 NOI (6.31% cap rate), with pro-forma projections of $184,222 NOI (7.68% cap rate).
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Corey Crain
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109 Casino Rd, Everett, Washington, 98208
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
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109 Casino Rd
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