16405 Smokey Point Blvd, Arlington, WA 98223

$1,400,000
6,966
SqFt

Listing courtesy of Dave Nelson Real Estate. Selling Office: .

Sold Price
$1,400,000
List Price
$1,450,000
Status
SOLD
MLS#
1236139
Closing Date
May 04, 2018
Days on Market
65
Style
55 - 5-9 Units
Building Condition
['Average']
Finished SqFt
6,966
Lot Size (sq ft)
58,807

Property Description

High visibility, high traffic commercial property on Smokey Point Blvd next to bank, auto dealers, medical offices, retail shopping centers with 8 rental units in 4 duplexes on 4 separate lots. First time offered in 16 years. 8.9% cap rate with 5% vacancy. Most units being updated with new carpet and paint at this time. Buy this income property now and hold for long term gains and future development potential in this very high demand area. Price reduced!!!

Additional Information

List Date
2018-01-20 00:00:00
Community
Smokey Point
Property Type
MULT
Units
8
Stories
1
Potential Terms
Conventional
Year Built
1980
Total Parking
16
Uncovered Parking
8
View
Territorial
Exterior
Wood
Roof
Composition
Site Features
['Cable TV', 'Gas Available', 'High Speed Internet']
Lot Details
Curbs, Paved Street, Sidewalk
School District
Arlington
Total Monthly Income
$11,350
Gross Scheduled Income
$136,200
Vacancy Rate
5
Gross Adjusted Income
$129,390
Annual Taxes
$11,243
Tax Year
2017
Insurance Expense
$2,280
W/S/G Expenses
$1,540
Total Expenses
$15,063
Net Operating Income
$114,327
Gross Rent Multiplier
10
Cap Rate
8

Room Dimensions

Unit 1 Rent
$1,000
Unit 2 Rent
$1,050
Unit 3 Rent
$1,350
Unit 4 Rent
$1,350
Unit 5 Rent
$1,500
Unit 6 Rent
$1,500
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