Mt View Apartments 4113 156th St SW
35 Unit Apartment Building $9,550,000 ($272,857/Unit) 7.30% Cap Rate Lynnwood, WA 98087
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INVESTMENT HIGHLIGHTS
- Favorable Operating Environment - Location in Snohomish County accesses favorable landlord-tenant legislation
- Attractive Return Metrics - 7.16% adjusted cap rate and 8.34% average cash yield
- Recent Capital Improvement - Roofs were replaced in 2020 and many windows replaced with vinyl
- Operational Value-Add Opportunity - Current Operations leave a tremendous amount of meat on the bone in reducing economic vacancy
- Strong Unit Mix - Nearly all two-bedroom units with a dedicated laundry room in each unit
- Excellent Proximity to Major Employers and Attractions • 9 minutes to Alderwood Mall • 11 minutes to Lynnwood Light Rail Station – Just opened to tran
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL | ANNUAL PER SF |
---|---|---|
Gross Rental Income |
$99,999
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$9.99
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Other Income |
$99,999
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$9.99
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Vacancy Loss |
$99,999
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$9.99
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Effective Gross Income |
$99,999
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$9.99
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Taxes |
-
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-
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Operating Expenses |
-
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-
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Total Expenses |
$99,999
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$9.99
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Net Operating Income |
$99,999
![]() |
$9.99
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PROPERTY FACTS
Price | $9,550,000 |
Price Per Unit | $272,857 |
Sale Type | Investment |
Cap Rate | 7.30% |
No. Units | 35 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | C |
Lot Size | 1.66 AC |
Building Size | 33,212 SF |
Average Occupancy | 100% |
No. Stories | 2 |
Year Built | 1985 |
Parking Ratio | 1.81/1,000 SF |
UNIT AMENITIES
- Balcony
- Dishwasher
- Fireplace
- Washer/Dryer Hookup
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Porch
SITE AMENITIES
- Fenced Lot
- Property Manager on Site
- Recycling
UNIT MIX INFORMATION
DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
---|---|---|---|
2+1 | 33 | $2,200 | 964 |
1+1 | 2 | $1,700 | 700 |
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PROPERTY TAXES
Parcel Number | 003729-011-023-03 | Improvements Assessment | $5,358,800 (2024) |
Land Assessment | $1,699,600 (2024) | Total Assessment | $7,058,400 (2024) |
ZONING
Zoning Code | MR, Lynnwood |