2504 204th Street SW
Lynnwood,
WA $930,000
Fantastic 4plex in prime Lynnwood location! Easy access to future Lynnwood Light Rail and Transit Center (2024), Alderwood Mall, I-5 and Highway 99 - high demand rental area with excellent equity potential from Light Rail development. Spacious layouts, professionally managed, coin-operated laundry income, and no vacancies. Perfect value-add play with below market rents- just needs a few more cosmetic updates to achieve pro-forma cap rate of 6.2%. Don't miss this rare opportunity to future-proof your portfolio with this Lynnwood investment!
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Listing ID1983135
Sold For$930,000
StatusClosed
Sold Date9/19/2022
SqFt
2,912
Acres
0.300
CountySnohomish
SubdivisionAlderwood
Year Built1969
Property TypeResidential Income
Property Sub TypeMulti-Family
County
Snohomish
Property Sub Type
Multi-Family
Property Type
Residential Income
Subdivision
Alderwood
Year Built
1969
Building Area Units
Square Feet
Furnished
Unfurnished
Heating Cooling Type
Baseboard
Living Area Units
Square Feet
Stories Total
2
Elevation Units
Feet
Exterior Features
See Remarks
Lot Size Square Feet
13068
Lot Size Units
Square Feet
MLS Lot Size Source
Public Records
Number Of Units Total
4
Open Parking Spaces
6
Parking Total
6
Parking Uncovered Spaces
6
Roof
Composition
Sewer
Sewer Connected
Structure Type
Quadruplex
Style Code
54 - 4-Plex
Units Below Grade
false
Units In Building Total
4
Utilities
Sewer Connected, Electricity Available
Water Sewer Garbage
6613
Water Source
Public
Building Area Total
2912
Country
US
High School District
Edmonds
MLS Area Major
730 - Southwest Snohom
Waterfront
no
Amenities
Coin Op Laundry
Effective Year Built Source
Public Records
Mls Status
Sold
Offers
Seller will review offers on Offer Review Date (may review/accept sooner)
Power Production Type
Electric
Preliminary Title Ordered
yes
Show Map Link
yes
Year Built Effective
1969
Buyer Financing
Conventional
Cap Rate
3.2
Gross Adjusted Income
57631
Gross Rent Multiplier
15.15
Gross Scheduled Income
59376
Insurance Expense
1879
Leasable Area
2912
Leasable Area Units
Square Feet
Leased Items
None
Net Operating Income
28557
Other Expense
13535
Possession
Closing
Sale Type
MLS
Seller Disclosure
Provided
Special Listing Conditions
None
Tax Annual Amount
7047
Tax Year
2021
Total Expenses
29074
Total Monthly Income
4948
Vacancy Rate
3
Schedule a Showing - Listing ID 1983135
Schedule a Showing
Schedule a Showing - Listing ID 1983135
Data services provided by IDX Broker
