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4223 164th Street SW

Lynnwood, WA 98087
  • $1,575,000
  • STATUS: Pending
  • ON SITE: 107 days
  • ID#: 1729328
Under Contract
UPDATED: 144 min ago
$1,575,000
  • 0
    BEDS
  • 0.5
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1989
County:

School Information

Elementary School:
Middle School:
High School:
School District:
Listing Courtesy of Sound Realty Group Inc.

Description

6-unit property consisting of a townhome-style Fourplex building and a rambler duplex sitting on a single .5 acre parcel. VALUE-ADD WITH LOTS OF OPTIONS. Zoning will allow for 11 units with room to build more. Currently offered at a 5.5% Cap Rate; Fully-occupied with stable tenants, great cash flow and significant room to raise rents to a 6.5% Market Cap Rate. Some updated interiors & upgraded exteriors. Newer windows, newer roofs, etc. All units have W/D hook-ups. High-demand rental located in desirable Lynnwood w/ proximity to freeways, major employers, retail & restaurants.

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The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than NW Home Experts are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2021-06-14T00:13:47.97.

www.nwhomeexperts.com/homes/114577584
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4223 164th Street SW Lynnwood, WA 98087

  • Price: $1,575,000
  • Status: Pending
  • Updated: 144 min ago
  • ID#: 1729328
0
Beds
0
Baths
0
½ Baths
0.5
Acres
1989
Built
Neighborhood:
Alderwood Manor
County:
Snohomish
Area:
SW Snohomish Cty/Lynnwood/Edmonds
Elementary School:
Meadowdale Elemmd
Middle School:
Meadowdale Mid
High School:
Meadowdale High
School District:
Edmonds
Property Description
6-unit property consisting of a townhome-style Fourplex building and a rambler duplex sitting on a single .5 acre parcel. VALUE-ADD WITH LOTS OF OPTIONS. Zoning will allow for 11 units with room to build more. Currently offered at a 5.5% Cap Rate; Fully-occupied with stable tenants, great cash flow and significant room to raise rents to a 6.5% Market Cap Rate. Some updated interiors & upgraded exteriors. Newer windows, newer roofs, etc. All units have W/D hook-ups. High-demand rental located in desirable Lynnwood w/ proximity to freeways, major employers, retail & restaurants.
Exterior Features

Carport Spaces 4 Carport YN No Covered Spaces 0 Exterior Features Wood Lot Features Corner LotPaved Open Parking Spaces 11 Open Parking YN Yes Parking Total 15 Parking Uncovered Spaces 11 Roof Composition Structure Type Multi Family Style Code 55 - 5-9 Units View YN No Waterfront YN No

Interior Features

Fireplace YN No Flooring LaminateVinyl PlankCarpet Foundation Details Poured Concrete Furnished Unfurnished Heating Cooling Type Forced Air Interior Features Laminate Hardwood

Property Features

Electric Expense 483 Electric On Property YN False Fuel Expense 0 Gross Scheduled Income 108780 Insurance Expense 1750 Irrigation Water Rights YN No Leased Items None Listing Terms Cash OutConventional Net Operating Income 86321 New Construction YN No Possible Use OfficeResidential Power Production Type Electric Property Condition Good Property Sub Type Multi-Family Sewer Sewer Connected Site Features Fenced-Partially Special Listing Conditions None Tax Annual Amount 11757 Tax Year 2020 Total Expenses 21371 Units In Building Total 6 Utilities Sewer ConnectedElectricity Available Water Sewer Garbage 4964 Water Source See Remarks Zoning Class OfficeResidential Zoning Jurisdiction City

Listing information © 2021 Northwest Multiple Listing Service. Information is based on data available to the associate, including county records. The information contained in this listing has not been verified by NW Home Experts and should be verified by the buyer.


The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than NW Home Experts are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2021-06-14T00:13:47.97.

 
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NW Home Experts
2211 Elliott Avenue Suite 200
Seattle WA, 98121
Listing Courtesy of Sound Realty Group Inc.