2531 Virginia Avenue, Everett, WA 98201

$1,195,000
3,276
SqFt

Listing courtesy of Opal Blue Real Estate, LLC. Selling Office: Century 21 Northwest.

Sold Price
$1,195,000
List Price
$1,095,000
Status
SOLD
MLS#
1878390
Closing Date
Apr 01, 2022
Days on Market
12
Style
55 - 5-9 Units
Building Condition
Fair
Finished SqFt
3,276
Area Total SqFt
3276
Annual Tax Ammount
6258
Lot Size (sq ft)
6,098
Sewer
Sewer Connected
Offer Review Date
2022-02-02

Property Description

Historic 6-unit complex is located in the Riverside neighborhood of North Everett. It is on a corner lot of a street lined with single family homes yet just blocks from Downtown Everett and all the amenities that surround the area. The building is also located just minutes away from HWY 2 Trestle and an onramp to I-5 making it a great location for commuters. (2) triplexes located on a single 6,098 square foot tax parcel. Priced at a 6.3% Cap Rate on current rents with potential to raise to 8+ Cap Rate with improvements and rent raises. 3 units have washer, dryer and dishwasher in the unit. 2 units remodeled (2021). Sewer line new (2017). Interior viewings available 1/28 from 2-3p and 1/31 from 12-1p. Call your buyer's agent to schedule.

Additional Information

List Date
2022-03-20 00:00:00
Community
Riverside
Net Operating Income
$69,209
Gross Adjusted Income
$86,848
Gross Scheduled Income
$88,620
Total Monthly Income
$7,385
Insurance Expenses
$2,882
Water/Sewer/Garbage Expenses
$3,641
Gross Rent Multiplier
16
Total Expenses
$17,638
Cap Rate
6.32
Vacancy Rate
2
Total Number of Units
6
Unit Name
2531
Potential Terms
Cash Out, Conventional
Year Built
1901
View
Territorial
Roof
Composition
Site Features
Cable TV, Deck
Electric Expenses
357
Other Expenses
4500
Energy Source
Electric
School District
Everett
Elementary School
Buyer To Verify
Middle School
North Mid
High School
Everett High
Total Monthly Income
$7,385
Gross Scheduled Income
$88,620
Vacancy Rate
2
Gross Adjusted Income
$86,848
Tax Year
2021
Insurance Expense
$2,882
W/S/G Expenses
$3,641
Total Expenses
$17,638
Net Operating Income
$69,209
Gross Rent Multiplier
16
Cap Rate
6.32
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