$1,195,000
2232 Hoyt Avenue, Everett, WA 98201
3,070 Sq Ft
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Unit 2 Walkthrough Unit 3 Walkthrough Unit 4 Walkthrough

MLS #2547568 / Listing provided by NWMLS & Opal Blue Real Estate, LLC.

$1,195,000

2232 Hoyt Avenue
Everett, WA 98201

Active 1 day ago
3,070
Sq Ft
$389
Per Sq Ft
1905
Year Built

Opportunity to acquire a well-maintained, professionally managed, five-unit multifamily investment in the desirable Bayside neighborhood of North Everett — just blocks from the Everett Waterfront, and walking distance to Grand Ave Park and Downtown. The building sits on a corner lot, includes a stand-alone two-car garage and boasts amazing views from the top 2 floors. Tenants are professionally screened and have an exceptional history of on-time payments with virtually zero delinquency. The current ownership group has invested nearly $250,000 in capital improvements in the building including all-new double-pane windows, new roof, full exterior paint, extensive PEX plumbing upgrades and complete remodels of Units 1, 2, 3, and 4. The result is a largely turnkey asset in a high-demand rental corridor supported by Boeing, Naval Station Everett, Amazon, and a growing healthcare economy. Current cap rate of 6.26% with pro forma upside to 6.83% as the one remaining unrenovated unit is brought to market. Gross rental income of $96,360 annually with pro forma income of $103,260 or more. Great opportunity to capitalize on one of the highest demand housing markets in Everett.

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: 2
  • Parking Total: 4
  • Total Uncovered Parking Spaces: 4

Structure

  • Roof: Composition, Flat
  • Exterior Features: Wood
  • Foundation: Block

Lot Details

  • Lot Features: Corner Lot, Sidewalk
  • Acres: 0.14
  • Foundation: Block
Area Features

Schools

  • High School District: Everett

Lot Details

  • Lot Features: Corner Lot, Sidewalk
  • Acres: 0.14
  • Foundation: Block
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: 6166
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