2232 Hoyt Avenue, Everett, WA 98201
Courtesy of Opal Blue Real Estate, LLC
- $1,195,000
- 3,070
- SqFt
- List Price
- $1,195,000
- Status
- ACTIVE
- Days on Market
- 44
- MLS#
- 2547568
- Subtype
- Residential Income
- Style
- 55 - 5-9 Units
- Year Built
- 1905
- Living Area
- 3,070
- Lot Size
- 6,098
- Acres
- 0.14
- Subdivision
- Downtown
- Neighborhood
- Downtown
- MLS Area Major
- Everett/Mukilteo
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.
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Additional Information
- Amenities
- Basement, Coin Op Laundry
- Exterior Features
- Wood
- Property Description
- 55 - 5-9 Units
- Flooring
- Vinyl Plank
- Heating
- Forced Air
- Air Conditioning
- None
- Roof
- Composition, Flat
- Garage Spaces
- 2
- School District
- Everett
- View
- Bay, City, Islands, Jetty, Mountains, Ocean, Sea, Territorial
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