Bought with Lee & Associates Commercial RE
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1532 Walnut ST Everett, WA 98202
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Key Details
Sold Price $1,390,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 4,200 sqft
Price per Sqft $330
Subdivision Everett
MLS Listing ID 1867502
Sold Date 03/10/22
Style 55 - 5-9 Units
Year Built 1919
Annual Tax Amount $7,858
Lot Size 4,356 Sqft
Property Sub-Type Multi-Family
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+.
Location
State WA
County Snohomish
Area 740 - Everett/Mukilteo
Interior
Flooring Vinyl Plank
Fireplace false
Exterior
Exterior Feature Wood, Wood Products
Utilities Available Sewer Connected, Electric
View Y/N No
Roof Type Built-Up
Building
Sewer Sewer Connected
Water Public
New Construction No
Schools
School District Everett
Others
Senior Community No
Acceptable Financing Assumable, Cash Out, Conventional
Listing Terms Assumable, Cash Out, Conventional
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