$1,150,000
2519 Baker Avenue, Everett, WA 98201
3,350 Sq Ft
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Unit 5 Walkthrough Unit 4 Walkthrough Unit 3 Walkthrougn

MLS #2547331 / Listing provided by NWMLS & Opal Blue Real Estate, LLC.

$1,150,000

2519 Baker Avenue
Everett, WA 98201

Active 1 day ago
3,350
Sq Ft
$343
Per Sq Ft
1910
Year Built

Opportunity to acquire a professionally managed, turnkey, two-building, five-unit multifamily investment on a single tax parcel in the Riverside neighborhood of North Everett. The offering consists of a two-story triplex fronting Baker Avenue and a duplex accessed via Fulton Avenue. Both buildings are well maintained and feature upgraded double pane vinyl windows, new roofs as well as lots of plumbing upgrades. 3 of the 5 units are renovated with new kitchens, bathrooms, flooring and paint. Tenants are professionally screened and have an exceptional history of on-time payments with virtually zero delinquency. Current cap rate of 6.18% with pro forma upside to 6.88% or beyond as below-market units are brought to current rents — providing a turnkey property with some value add potential. Strong Everett rental fundamentals backed by Boeing, Naval Station Everett, Amazon, and a robust health care economy. Gross rental income of $91,884 annually with pro forma income of $100,200 or more depending on what extent of upgrades are performed on the two unrenovated units.

Disclaimer: The information contained in this listing has not been verified by Hawkins-Poe Real Estate Services and should be verified by the buyer.

Interior Features

Bedrooms

  • Upper Level Bedrooms: 0

Fireplaces

  • Total Fireplaces: 0

Heating & Cooling

  • Heating: Yes
  • Cooling: No
Exterior Features

Parking

  • Garage Spaces: 0
  • Parking Total: 2
  • Total Uncovered Parking Spaces: 2

Structure

  • Roof: Composition
  • Exterior Features: Wood, Wood Products
  • Foundation: Pillar/Post/Pier, Poured Concrete

Lot Details

  • Lot Features: Dead End Street, Sidewalk
  • Acres: 0.14
  • Foundation: Pillar/Post/Pier, Poured Concrete
Area Features

Schools

  • High School District: Everett

Lot Details

  • Lot Features: Dead End Street, Sidewalk
  • Acres: 0.14
  • Foundation: Pillar/Post/Pier, Poured Concrete
Utilities

Power

  • Energy Source: Electric, Natural Gas
  • Power Company: SnoPUD

Water, Sewer, and Garbage

  • Sewer Company: City of Everett
  • Sewer: Sewer Connected
  • Water Company: City of Everett
  • Water Source: Public
  • Water, Sewer, and Garbage: 3671
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