1424 Ridge AveSnohomish, WA 98290

Property Details for 1424 Ridge Ave

Property size (Sq ft)

2,259 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional mixed-use redevelopment opportunity in Snohomish, WA, presents a unique investment prospect. Located at 1424 Ridge Ave, 98290, this property boasts a 19,602 sq ft lot zoned Commercial Midtown, offering a multitude of potential uses. The existing 2-story, 2,259 sq ft building, constructed in 1980 and renovated in 1980, currently functions as office space with 100% occupancy. The asking price is $1,175,000, representing a 5.20% cap rate. The property's versatility allows for diverse development options, including townhomes, multifamily dwellings, daycare centers, senior living facilities, breweries, self-storage units, office spaces, industrial uses, medical facilities, or even a church. Its ideal location near thriving commercial areas makes it particularly attractive for owner-operators seeking a work/live arrangement. Pre-inspected for your convenience. This is a rare chance to acquire a property with significant upside in a desirable Snohomish County location. The property is currently owner-occupied.

Location Insight

City

Snohomish

County

Snohomish

State

Washington

Latitude

47.9303

Longitude

-122.102

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