2808 Hoyt, Everett, WA 98201

$1,670,000

Listing courtesy of KW Everett. Selling Office: Windermere Real Estate RBI.

Sold Price
$1,670,000
List Price
$1,795,000
Status
SOLD
MLS#
1151451
Closing Date
Mar 15, 2018
Days on Market
216
Annual Tax Ammount
10116

Property Description

7% CAP on this downtown Everett mixed-use investment property. Acquire a cash flow property w/B3 zoning allowing great redevelopment potential. Current tenant mix incl. 5 residential apartments on upper level, fully renovated naturopathic clinic on main level & self-storage on ally level. Tax parcel 00439166902200 (2-level parking garage) is included in sale. Puget Sound & mountains views. Neighboring parcels have redeveloped. Scheduled increases over next 12 months bring CAP to 7.5%!

Additional Information

Community
Downtown
Style
61 - Comm Bldg Ovr 10K
Year Built
1915
# of Assigned Spaces
26
Roof
Built-Up
Tax Year
2017
Potential Terms
Cash Out, Conventional
Interior Features
Forced Air, Concrete, Wall to Wall Carpet
Flooring
Concrete, Carpet
Driving Directions
From I-5 north, take Pacific Ave. exit. Head west to Hoyt. North on Hoyt for 2 blocks. Property on left.
Other Expenses
9100
Net Operating Income
$125,779
Gross Adjusted Income
$152,868
Gross Scheduled Income
$157,596
Water/Sewer/Garbage Expenses
$4,473
Cap Rate
7
Vacancy Rate
3
Total Expenses
$27,089
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