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1532 Walnut Street

Everett, WA 98202
  • $1,350,000
  • STATUS: Active
  • ON SITE: 7 Days
  • ID#: 1867502
UPDATED: 29 min ago
$1,350,000
  • 0
    BEDS
  • 0.1
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 4,200
    SQFT
  • $321
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1919
County:

School Ratings & Info

School District:
Listing Courtesy of Lee & Associates Commercial Re.

Description

Fully renovated 7-unit apartment building offering all one-bedroom one-bath units. Over $265,000 in completed renovation makes Whistwood a turnkey, low-maintenance, cash-flow investment with 21% upside in income through nominal rent increases and RUBS implementation. The opportunity to acquire 7 units at a 5.39% CAP rate and take it to a 6.40% provides a rare opportunity in today's ultra-competetive multifamily marketplace. Additionally, a qualified buyer may assume the current loan with a down payment of approximately 25%. A new interest-only loan has the potential to increase cash-flow to nearly $40K/yr+.

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The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Costello Team | Windermere Real Estate are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2021-12-02T07:14:15.033.

www.costelloteam.com/homes/123554309
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1532 Walnut Street Everett, WA 98202

  • Price: $1,350,000
  • Status: Active
  • On Site: 7 Days
  • Updated: 29 min ago
  • ID#: 1867502
0
Beds
0
Baths
0
½ Baths
0.1
Acres
4,200
SQFT
$321
$/SQFT
1919
Built
Neighborhood:
Everett
County:
Snohomish
Area:
Everett/Mukilteo
School District:
Everett
Property Description
Fully renovated 7-unit apartment building offering all one-bedroom one-bath units. Over $265,000 in completed renovation makes Whistwood a turnkey, low-maintenance, cash-flow investment with 21% upside in income through nominal rent increases and RUBS implementation. The opportunity to acquire 7 units at a 5.39% CAP rate and take it to a 6.40% provides a rare opportunity in today's ultra-competetive multifamily marketplace. Additionally, a qualified buyer may assume the current loan with a down payment of approximately 25%. A new interest-only loan has the potential to increase cash-flow to nearly $40K/yr+.
Exterior Features

Carport Spaces 0 Carport YN No Covered Spaces 1 Exterior Features WoodWood Products Open Parking Spaces 6 Open Parking YN Yes Parking Total 7 Parking Uncovered Spaces 6 Roof Built-Up Structure Type Multi Family Style Code 55 - 5-9 Units View YN No Waterfront YN No

Interior Features

Building Area Total 4200 Fireplace YN No Flooring Vinyl Plank Furnished Unfurnished Heating Cooling Type Wall Heating YN Yes Living Area 0 Square Footage Finished 0 Square Footage Unfinished 0

Property Features

Amenities Coin Op Laundry Electric On Property YN No Energy Source Electric FIRPTAYN No Irrigation Water Rights YN No Listing Terms AssumableCash OutConventional Net Operating Income 72823 New Construction YN No Possession Closing Possible Use Multi-FamilyResidential Power Production Type Electric Property Sub Type Multi-Family Senior Community YN No Sewer Sewer Connected Special Listing Conditions None Tax Annual Amount 7858 Tax Year 2021 Units In Building Total 7 Utilities Sewer ConnectedElectricity Available Water Source Public Zoning Class Multi-FamilyResidential

Listing information © 2021 Northwest Multiple Listing Service. Information is based on data available to the associate, including county records. The information contained in this listing has not been verified by Costello Team | Windermere Real Estate and should be verified by the buyer.


The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Costello Team | Windermere Real Estate are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2021-12-02T07:14:15.033.

 
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Costello Team | Windermere Real Estate
100 116th Ave SE
Bellevue WA, 98004
Listing Courtesy of Lee & Associates Commercial Re.