Mt View Apartments 4113 156th St SW

35 Unit Apartment Building $9,550,000 ($272,857/Unit) 7.30% Cap Rate Lynnwood, WA 98087

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 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
Effective Gross Income $99,999 $9.99
Taxes - -
Operating Expenses - -
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

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

PROPERTY TAXES

ZONING

Zoning Code MR, Lynnwood
  • Listing ID: 33679671

  • Date on Market: 10/29/2024

  • Last Updated:

  • Address: 4113 156th St SW, Lynnwood, WA 98087