2011 Madison Street, Everett, WA 98203
- $1,150,000
Listing courtesy of Windermere Real Estate Midtown.
- List Price
- $1,150,000
- Status
- ACTIVE
- MLS#
- 2158980
- Days on Market
- 353
- Annual Tax Ammount
- 8332
Property Description
Instant equity awaits savvy investor at this multiple strategy value-add site. 5% cap with significant upside. Two-story mixed-use building with three 1-bedroom apartments, three street-front commercial spaces, and three flexible-use spaces on the main level. 26,752 sf neighborhood business (NB) zoned corner site - a blank slate for townhomes, apartments, owner-user, and other uses. Site maintains a neighborhood character with excellent commutes and access to amenities. A great opportunity to invest in the City of Everett, anticipated to be Washington's fastest-growing large city over the next 10 years. First time available in 45 years. Sold As-Is.
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Additional Information
- Community
- Pinehurst
- Building Condition
- Fixer
- Style
- 60 - Comm Bldg Und 10K
- Year Built
- 1947
- # of Assigned Spaces
- 20
- Roof
- Flat
- Tax Year
- 2023
- Potential Terms
- Cash Out
- Interior Features
- Concrete, Laminate Hardwood, Wall to Wall Carpet
- Flooring
- Concrete, Laminate, Vinyl, Carpet
- Driving Directions
- Corner of Madison Street and Commercial Avenue
- Electric Expenses
- 1026
- Energy Source
- Electric
- Buyer Agency Compensation
- 3
- Net Operating Income
- $58,549
- Gross Scheduled Income
- $76,417
- Water/Sewer/Garbage Expenses
- $3,099
- Cap Rate
- 5.09
- Vacancy Rate
- 22
- Total Expenses
- $17,868
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