137 Kirby Drive, Monroe, WA 98272

$2,700,000

Listing courtesy of Snohomish Properties.

List Price
$2,700,000
Status
ACTIVE
MLS#
1758771
Price Change
▼ $150,000 1626925328
Days on Market
112
Style
56 - 10+ Units
Building Condition
Very Good
Lot Size (sq ft)
36,590

Property Description

Great opportunity!! This 12 unit complex is two buildings on two different Tax Parcel Numbers. Each building is 1-story and has 6 units with 3 2-bedroom units and 3 1-bedroom units. Each unit in the complex has a separate storage room and a covered parking space. The exterior of the buildings are partially brick. The tenants almost never move and have been long term tenants. The parking and driveways are all asphalted. Properties of this kind very seldom become available. The property us extraordinary value in this market. The rent is significantly under the market and could be increased to provide a 5-6% cap rate. Show with discretion and no interior showings except when under contract.

Additional Information

List Date
2021-04-15 00:00:00
Community
Monroe
Potential Terms
Cash Out, Conventional
Year Built
1967
View
City, Territorial
Roof
Composition
Site Features
Cable TV
School District
Monroe
Elementary School
Frank Wagner Elem
Middle School
Monroe Mid
High School
Monroe High
Total Monthly Income
$12,175
Gross Scheduled Income
$153,600
Gross Adjusted Income
$153,600
Tax Year
2020
Insurance Expense
$7,828
W/S/G Expenses
$16,790
Total Expenses
$44,409
Net Operating Income
$109,291
Cap Rate
3
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Calculator source: Real Geeks