4223 164th St SW Unit A-F, Lynnwood, WA 98087

$1,575,000
5,982
SqFt

Listing courtesy of Sound Realty Group Inc.

List Price
$1,575,000
Status
ACTIVE
MLS#
1729328
Days on Market
43
Style
55 - 5-9 Units
Building Condition
['Good']
Finished SqFt
5,982
Lot Size (sq ft)
21,780

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.

Additional Information

List Date
2021-02-26 00:00:00
Community
Alderwood Manor
Property Type
MULT
Units
6
Stories
2
Potential Terms
Cash Out, Conventional
Year Built
1989
Total Parking
15
Uncovered Parking
11
Exterior
Wood
Roof
Composition
Site Features
Fenced-Partially
Lot Details
Corner Lot, Paved Street
School District
Edmonds
Elementary School
Meadowdale ElemMd
Middle School
Meadowdale Mid
High School
Meadowdale High
Total Monthly Income
$9,065
Gross Scheduled Income
$108,780
Vacancy Rate
1
Gross Adjusted Income
$107,692
Annual Taxes
$11,757
Tax Year
2020
Insurance Expense
$1,750
W/S/G Expenses
$4,964
Total Expenses
$21,371
Net Operating Income
$86,321
Gross Rent Multiplier
14
Cap Rate
5

Room Dimensions

Unit 1 Beds
2
Unit 1 Baths
1.50
Unit 1 Size
1099
Unit 1 Rent
$1,545
Unit 2 Beds
2
Unit 2 Baths
1.50
Unit 2 Size
1099
Unit 2 Rent
$1,495
Unit 3 Beds
2
Unit 3 Baths
1.50
Unit 3 Size
1099
Unit 3 Rent
$1,530
Unit 4 Beds
2
Unit 4 Baths
1.50
Unit 4 Size
1099
Unit 4 Rent
$1,595
Unit 5 Beds
2
Unit 5 Baths
1.00
Unit 5 Size
792
Unit 5 Rent
$1,435
Unit 6 Beds
2
Unit 6 Baths
1.00
Unit 6 Size
792
Unit 6 Rent
$1,465
The database information herein is provided from and copyrighted by the Northwest Multiple Listing Service (NWMLS). NWMLS data may not be reproduced or redistributed and is only for people viewing this site. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. All rights are reserved by copyright.

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks