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
330
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.

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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