For Sale
$2,400,000

109 Casino RdEverett, WA 98208

12-Unit Apartment Building, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
114
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).

Property Details for 109 Casino Rd

Property type
Apartment buildings
Square Feet
9,702 SF
Class
B
Year Built
1979
Buildings
3
Stories
2
Units
12

Location Insight

City
Everett
County
Snohomish
State
Washington
Latitude
47.921859303277
Longitude
-122.23574904941
109 Casino Rd, Everett, Washington

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109 Casino Rd
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