2011 Madison Street, Everett, WA 98203
- $1,250,000
- 7,629
- SqFt
Listing courtesy of Windermere Real Estate Midtown.
- List Price
- $1,250,000
- Status
- ACTIVE
- MLS#
- 2026483
- Days on Market
- 289
- Style
- 55 - 5-9 Units
- Finished SqFt
- 7,629
- Lot Size (sq ft)
- 26,572
Property Description
Character-rich, value-add site awaits selective owner/investor to create immediate equity and community. 6% + pro forma cap for existing building only, with additional land development upside. Two-story mixed-use bldg with three 1-bed apts, three street-front commercial, and three ground floor flex units. 26,752 sf neighborhood business (NB) corner site - a blank slate for townhomes, apartments, owner users, and creatives. Friendly location with excellent commutes, access to amenities and the Interurban trail. Available for the first time in 45 years. A unique opportunity to invest in Everett, anticipated to be Washington's fastest-growing large city over the next 10 years. Vacant units show pro forma rent w/NNN.
Additional Information
- List Date
- 2022-06-09 01:48:09
- Community
- Pinehurst
- Potential Terms
- Cash Out
- Year Built
- 1947
- View
- Territorial
- Roof
- Flat
- Site Features
- Shop
- School District
- Everett
- Total Monthly Income
- $7,687
- Gross Scheduled Income
- $80,400
- Vacancy Rate
- 33
- Tax Year
- 2022
- Insurance Expense
- $3,993
- W/S/G Expenses
- $2,812
- Total Expenses
- $17,329
- Net Operating Income
- $74,919
- Cap Rate
- 6
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