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For more information on this property, contact Chris Kallin at 2069996920 or chris@seattlebydesign.com

2504 204th Street SW
Lynnwood, Washington WA 98036-6963
Sold For: $930,000
Listing ID 1983135
Status Closed
SqFt 2,912
Acres 0.300
Year Built 1969

Property Description:

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!

Primary Features

County: Snohomish
Property Sub Type: Multi-Family
Property Type: Residential Income
Subdivision: Alderwood
Year Built: 1969

Interior

Building Area Units: Square Feet
Furnished: Unfurnished
Heating Cooling Type: Baseboard
Living Area Units: Square Feet
Stories Total: 2

External

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

Location

Building Area Total: 2912
Country: US
High School District: Edmonds
MLS Area Major: 730 - Southwest Snohom
Waterfront: no

Additional

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
Year Built Effective: 1969

Financial

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

Zoning Info


Based on information submitted to the MLS GRID as of Friday, March 29th, 2024 04:43:36 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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