16405 Smokey Point Boulevard, Arlington, WA 98223

$1,400,000
6,966
SqFt

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

Sold Price
$1,400,000
List Price
$1,450,000
Status
SOLD
MLS#
1236139
Closing Date
May 04, 2018
Days on Market
67
Style
55 - 5-9 Units
Building Condition
Average
Finished SqFt
6,966
Area Total SqFt
6966
Annual Tax Ammount
11243
Lot Size (sq ft)
58,807
Sewer
Available, Sewer Connected

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
2018-02-26 00:00:00
Community
Smokey Point
Net Operating Income
$114,327
Gross Adjusted Income
$129,390
Gross Scheduled Income
$136,200
Total Monthly Income
$11,350
Insurance Expenses
$2,280
Water/Sewer/Garbage Expenses
$1,540
Gross Rent Multiplier
10
Total Expenses
$15,063
Cap Rate
8.9
Vacancy Rate
5
Total Number of Units
8
Unit Name
16405
Potential Terms
Conventional
Year Built
1980
View
Territorial
Roof
Composition
Site Features
Cable TV, Gas Available, High Speed Internet
School District
Arlington
Total Monthly Income
$11,350
Gross Scheduled Income
$136,200
Vacancy Rate
5
Gross Adjusted Income
$129,390
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
8.9
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