1532 Walnut Street, Everett, WA 98202

$1,350,000
4,200
SqFt

Listing courtesy of Lee & Associates Commercial RE.

List Price
$1,350,000
Status
ACTIVE
MLS#
1867502
Days on Market
26
Style
55 - 5-9 Units
Finished SqFt
4,200
Area Total SqFt
4200
Lot Size (sq ft)
4,356

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+.

Additional Information

List Date
2021-11-04 18:34:10
Community
Everett
Potential Terms
Assumable, Cash Out, Conventional
Year Built
1919
Roof
Built-Up
Heating/Cooling Type
Wall
Other Expenses
4375
Energy Source
Electric
School District
Everett
Total Monthly Income
$8,335
Gross Scheduled Income
$100,020
Vacancy Rate
5
Gross Adjusted Income
$95,019
Tax Year
2021
Insurance Expense
$2,100
W/S/G Expenses
$7,862
Total Expenses
$22,195
Net Operating Income
$72,823
Gross Rent Multiplier
13.5
Cap Rate
5
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