507 3rd Street, Sultan, WA 98294

$825,000
3,874
SqFt

Listing courtesy of Windermere Real Estate/East.

List Price
$825,000
Status
ACTIVE
MLS#
1955849
Price Change
▼ $10,000 1659769499
Days on Market
47
Style
54 - 4-Plex
Building Condition
Good
Finished SqFt
3,874
Lot Size (sq ft)
12,632

Property Description

Welcome to this nice, well-maintained, 4-plex on a large, sunny, level lot located in center of Sultan. There are three existing 2-bedroom, 1-bath units & a fourth 1-bed, 1-bath unit (with existing legal address) ready for you to build out, creating instant additional value to the property. Perfect for owner occupier with rental income. Owner could add 4th unit, or expand their personal residence. Add carport and fence different areas of the yard to create a very nice owner's unit or obtain higher rents. Public sewer & water. High-speed internet available. Financials are pro-forma and sq. ft. includes unfinished 4th unit. Elementary school 1-block away and multiple parks near by. Pre-inspection report available.

Additional Information

List Date
2022-06-23 22:56:10
Community
In Town - Snohomish
Potential Terms
Cash Out, Conventional
Year Built
1952
View
Mountain(s), Territorial
Roof
Composition
Site Features
Cable TV, Deck, High Speed Internet
Foundation Details
Poured Concrete
Lot Size Acres
0.29
Interior Features
Wall to Wall Carpet
Exterior Features
Wood
Energy Source
Electric
Flooring
Vinyl, Carpet
Heating/Cooling Type
Baseboard, Wall
Sewer
Sewer Connected
Lot Features
Curbs, Paved, Sidewalk
Building Condition
Good
View
Yes
School District
Sultan
Elementary School
Sultan Elem
Middle School
Sultan Mid
High School
Sultan Snr High
Total Monthly Income
$6,600
Gross Scheduled Income
$72,720
Vacancy Rate
10
Gross Adjusted Income
$65,448
Tax Year
2021
Insurance Expense
$2,745
W/S/G Expenses
$600
Total Expenses
$7,673
Net Operating Income
$57,775
Gross Rent Multiplier
11.5
Cap Rate
7
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