3119 Oakes AveEverett, WA 98201

Property Details for 3119 Oakes Ave

Year built

1906

Construction

WOOD

Lot size

0.10 AC

Property size (Sq ft)

1,617 SF

Zone code

FS

Property type

Office buildings

APN

439074000400

APU

439074000400

Description

This exceptional commercial investment opportunity encompasses three well-maintained office buildings situated at 3115, 3117, and 3119 Oakes Avenue in Everett, Washington. The properties are located near the Snohomish County Court, offering convenient access to legal and government services. The combined land area totals 10,454 square feet, spanning 0.24 acres across three adjacent parcels. Each building is currently 100% leased, providing immediate cash flow. Importantly, the lease terms are short, presenting a clear path for future redevelopment plans. The properties are zoned Urban Mixed, allowing for a variety of development options. Ample on-site parking is available for tenants and visitors. This presents a unique chance to acquire a portfolio of income-generating assets with significant upside potential. A fourth adjacent property, located at 3113 Oakes Avenue (NWMLS #2289153), is also available for purchase, offering the possibility of developing all four lots. The existing mortgage may be assumable, subject to qualification. This is an ideal opportunity for investors seeking a strong return on investment with significant long-term growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $437,564

  6.5%

  $403,905

  7%

  $375,055

• Comparable approach

  Method

  Valuation

  Relative Method

  $433,621

  Geo Method

  $311,402

• Alternative Use

  Use

  Valuation

  Residential Income

  $500,843

  Hospitality / Lodging

  $458,769

  Institutional / Educational

  $381,691

  Healthcare / Senior Housing

  $394,818

  Retail / Commercial

  $593,741

Location Insight

City

Everett

County

Snohomish

State

Washington

Latitude

47.9759

Longitude

-122.204

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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