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Rein Franke

rein.franke@engelvoelkers.com +1(425) 647-8823

Listed by:Opal Blue Real Estate, LLC • Grant Fosheim

$ 1,195,000

Est. payment -/mo

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2232 Hoyt AVE Everett, WA 98201

5 Beds

5 Baths

3,070 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,070 sqft

Price per Sqft $389

Subdivision Downtown

MLS Listing ID 2547568

Style 55 - 5-9 Units

Bedrooms 5

Year Built 1905

Annual Tax Amount $6,003

Lot Size 6,098 Sqft

Property Sub-Type Multi Family

Property Description

Opportunity to acquire a well-maintained, professionally managed, five-unit multifamily investment in the desirable Bayside neighborhood of North Everett — just blocks from the Everett Waterfront, and walking distance to Grand Ave Park and Downtown. The building sits on a corner lot, includes a stand-alone two-car garage and boasts amazing views from the top 2 floors. Tenants are professionally screened and have an exceptional history of on-time payments with virtually zero delinquency. The current ownership group has invested nearly $250,000 in capital improvements in the building including all-new double-pane windows, new roof, full exterior paint, extensive PEX plumbing upgrades and complete remodels of Units 1, 2, 3, and 4. The result is a largely turnkey asset in a high-demand rental corridor supported by Boeing, Naval Station Everett, Amazon, and a growing healthcare economy. Current cap rate of 6.26% with pro forma upside to 6.83% as the one remaining unrenovated unit is brought to market. Gross rental income of $96,360 annually with pro forma income of $103,260 or more. Great opportunity to capitalize on one of the highest demand housing markets in Everett.

Location

State WA

County Snohomish

Area 740 - Everett/Mukilteo

Interior

Flooring Vinyl Plank

Fireplace false

Exterior

Exterior Feature Wood

Garage Spaces 2.0

Amenities Available Fenced-Partially, Outbuildings

View Y/N Yes

View Bay, City, Islands, Jetty, Mountains, Ocean, Sea, Territorial

Roof Type Composition,Flat

Building

Lot Description Corner Lot, Sidewalk

Sewer Sewer Connected

Water Public

New Construction No

Schools

School District Everett

Others

Senior Community No

Acceptable Financing Cash, Farm Home Loan

Listing Terms Cash, Farm Home Loan

Virtual Tour https://youtu.be/4rhxq1Ak6So?si=Q8I_6ID8V-DdzhmE

"Three Trees" icon indicates a listing provided courtesy of NWMLS.

NEARBY SCHOOLS & PROPERTIES

Rein Franke

Advisor | License ID: 250005926

+1(425) 647-8823

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