531 83rd Avenue SE, Lake Stevens, WA 98258

$1,500,000
3,567
SqFt

Listing courtesy of Snohomes Realty Inc.

List Price
$1,500,000
Status
ACTIVE
MLS#
1963002
Days on Market
164
Style
53 - Tri-plex
Building Condition
Good
Finished SqFt
3,567
Lot Size (sq ft)
44,867

Property Description

**INVESTOR ALERT ~ Desirable City of Lake Stevens! Preliminary short plat done - shovel ready. (Lot 1) has existing Triplex ~ New roof and gutters. Fresh updates with new appliances ~ granite counters ~ vinyl flooring ~ lighting ~ paint and permitted decks. Each unit has their own fenced yard and lower-level laundry including storage space. Unit 1 showcases a below grade studio. (Lot 2) ~ residential, (lot 3) w/duplex potential. City water & sewer. Prime location w/new housing developments, Costco, and quick access to Hwy 9, Hwy 2 and I-5. See attached plat for improvements needed. 100% occupancy including original farmhouse ~ please use discretion when walking exterior. Great opportunity for the investor and/or 1031 Exchange.

Additional Information

List Date
2022-04-21 21:00:10
Community
Lake Stevens
Potential Terms
Cash Out, Conventional
Year Built
1967
View
Mountain(s), Territorial
Roof
Composition
Site Features
Deck, Fenced-Partially, RV Parking
School District
Lake Stevens
Elementary School
Buyer To Verify
Middle School
Buyer To Verify
High School
Buyer To Verify
Total Monthly Income
$6,050
Gross Scheduled Income
$72,600
Gross Adjusted Income
$72,600
Tax Year
2022
Insurance Expense
$1,467
W/S/G Expenses
$715
Total Expenses
$5,496
Net Operating Income
$65,390
Gross Rent Multiplier
23
Cap Rate
3.84
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