16028 44th Ave W 1-24
Lynnwood, Washington WA 98087
Price: $5,850,000
Est. Monthly Payment: $25,123.25 See Details
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Listing ID: 1091523
Status: Active
Square Feet: 23,000 Sq Ft
Acres: 1.190 Acres
Year Built: 1978

24 fully renovated,spacious 1,2,and 3 bedroom condo quality units,opportunity for an investor to acquire a turnkey asset,easy to manage in a growing area with a strong job market,5% Cap rate with room to increase income,1.6 Billion link extension near the property will guarantee future appreciation and offer a 20 min commute to Seattle.Onsite leasing office,washer& dryers in all units,plenty of parking on a large parcel near hospitals,community college,minutes to I-5/405.

{"zipcode": "98087", "price": "5850000"}
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Donna Marshall
Title: Broker
Address: 16398 NE 85th St
City: Redmond
State/Province: WA
Zipcode: 98052
Office Phone: 425-285-1324
Office Fax: 888-320-828
Cell Phone: 425-422-0954

Primary Features

Amenities: Storage
Area: 730 - Southwest Snohom
Bank Owned: no
Building Condition: Very Good
Community Name: Meadowdale
County: Snohomish
Energy Source: Electric, Wood
Exterior: Wood
Floor Covering: Ceramic Tile, Laminate Hardwood, Vinyl, Wall to Wall Carpet
Foundation: Poured Concrete
Heating/Cooling: Baseboard, Forced Air
Lot Details: Corner Lot, Curbs, Paved Street, Sidewalk
Number of Units: 24
Possession: Closing, Sub. Tenant's Rights
Property Type: Multi-Family
Roofing: Composition
School District: ED
Site Features: Cable TV, Deck, Fenced-Partially
Style: 56 - 10+ Units
Terms: Cash Out, Conventional
Year Built: 1978

Interior Features

Bathrooms Unit 1: 1.00
Bathrooms Unit 2: 1.00
Bathrooms Unit 3: 1.00
Bathrooms Unit 4: 1.00
Bathrooms Unit 5: 1.00
Bathrooms Unit 6: 1.00
Bedrooms Unit 1: 1
Bedrooms Unit 2: 1
Bedrooms Unit 3: 2
Bedrooms Unit 4: 2
Bedrooms Unit 5: 2
Bedrooms Unit 6: 2
Dishwasher Unit 1: yes
Dishwasher Unit 2: yes
Dishwasher Unit 3: yes
Dishwasher Unit 4: yes
Dishwasher Unit 5: yes
Dishwasher Unit 6: yes
Fireplaces Unit 1: 1
Fireplaces Unit 2: 1
Fireplaces Unit 3: 1
Fireplaces Unit 4: 1
Fireplaces Unit 5: 1
Fireplaces Unit 6: 1
Number of Stories in Building: 3
Square Feet Unit 1: 750
Square Feet Unit 2: 750
Square Feet Unit 3: 950
Square Feet Unit 4: 950
Square Feet Unit 5: 950
Square Feet Unit 6: 950


3rd Party Required: None
Community Number: 1626
Description Unit 1: 1
Description Unit 2: 2
Description Unit 3: 3
Description Unit 4: 4
Description Unit 5: 5
Description Unit 6: 6
General Zoning Classification: Multi-Family
Leased Items: None
Parcel Number: 00372900100703
Power Company: PUD
Property Type: MULT
Range/Oven Unit 1: yes
Range/Oven Unit 2: yes
Range/Oven Unit 3: yes
Range/Oven Unit 4: yes
Range/Oven Unit 5: yes
Range/Oven Unit 6: yes
Refrigerator Unit 1: yes
Refrigerator Unit 2: yes
Refrigerator Unit 3: yes
Refrigerator Unit 4: yes
Refrigerator Unit 5: yes
Refrigerator Unit 6: yes
Sewer Company: CITY
Units Below Grade: no
Washer/Dryer Unit 1: yes
Washer/Dryer Unit 2: yes
Washer/Dryer Unit 3: yes
Washer/Dryer Unit 4: yes
Washer/Dryer Unit 5: yes
Washer/Dryer Unit 6: yes
Water Company: City of Lynnwood
Water Source: Public
Water/Sewer/Garbage: 20045

Financial Details

Gross Adjusted Income: 446356
Gross Rent Multiplier: 12
Gross Scheduled Income: 462545
Insurance Expenses: 8566
Net Operating Income: 290153
Other Expenses: 70074
Rent Unit 1: 1295
Rent Unit 2: 1295
Rent Unit 3: 1470
Rent Unit 4: 1470
Rent Unit 5: 1470
Rent Unit 6: 1470
Tax Amount: 57158
Tax Year: 2017
Total Monthly Income: 38545

External Features

Block: 001
Lot Number: 7
Lot SqFt: 51836
Number of Carport Spaces: 5
Number of Uncovered Spaces: 43
Total Number of Parking Spaces: 48

Location Information

Elementary School: Buyer To Verify
Junior High: Buyer To Verify
Senior High: Buyer To Verify
Street Direction Suffix: W
Street Suffix: Ave

Zoning Info

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