2616 204th Street SW, Lynnwood, WA 98036
- $750,000
- 2,691
- SqFt
Listing courtesy of RE/MAX Metro Realty, Inc.. Selling Office: Skyline Properties, Inc..
- Sold Price
- $750,000
- List Price
- $750,000
- Status
- SOLD
- MLS#
- 1657281
- Closing Date
- Feb 25, 2021
- Days on Market
- 79
- Style
- 53 - Tri-plex
- Finished SqFt
- 2,691
- Area Total SqFt
- 2691
- Annual Tax Ammount
- 7374
- Lot Size (sq ft)
- 9,583
- Sewer
- Sewer Connected
Property Description
Incredible upside potential in this Alderwood triplex. Minutes from mall and freeway access yet tucked off arterial road down a private drive. Covered parking for each unit. Talk about stable, no vacancies for 5+ years. Rents are paid like clockwork by current tenants through a special needs services/government-funded lease agreement. All tenants are month-to-month. Current rents are below market value and with some minor improvements could yield much higher rents. Tons of opportunity.
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Additional Information
- List Date
- 2020-12-08 00:00:00
- Community
- Alderwood
- Net Operating Income
- $36,958
- Gross Adjusted Income
- $36,958
- Gross Scheduled Income
- $46,200
- Total Monthly Income
- $3,850
- Insurance Expenses
- $1,868
- Gross Rent Multiplier
- 17
- Total Expenses
- $9,242
- Cap Rate
- 4.61
- Total Number of Units
- 3
- Unit Name
- 2616
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1968
- Roof
- Composition
- School District
- Edmonds
- Total Monthly Income
- $3,850
- Gross Scheduled Income
- $46,200
- Gross Adjusted Income
- $36,958
- Tax Year
- 2020
- Insurance Expense
- $1,868
- Total Expenses
- $9,242
- Net Operating Income
- $36,958
- Gross Rent Multiplier
- 17
- Cap Rate
- 4.61
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