8311 214th Place SW Unit #1-4, Edmonds, WA 98026

$1,500,000
3,360
SqFt

Listing courtesy of Windermere Real Estate M2 LLC.

List Price
$1,500,000
Status
PENDING
MLS#
2220658
Days on Market
23
Style
54 - 4-Plex
Building Condition
Good
Finished SqFt
3,360
Lot Size (sq ft)
8,712

Property Description

Edmonds 4plex centrally located just 1 block from 5-corners with wonderful amenities. The well-maintained & professionally managed building sits on a quiet street with many single-family residential homes. Long term tenants with below market rents provide an opportunity to immediately increase cashflow. Two units have been fully remodeled with stylish/modern finishes. Updated roof, exterior paint, & windows in 2018. Each unit has a spacious living room, dining room & kitchen with open layout, along with 2 bedrooms, full bath, & in-unit washer/dryer. Low maintenance grounds + ample parking. Quick access to I-5, downtown Edmonds, restaurants, coffee shops, & schools.

Additional Information

List Date
2024-05-01 18:58:30
Community
5 Corners
Potential Terms
Cash Out, Conventional, FHA, VA Loan
Year Built
1976
Roof
Composition, Flat
Site Features
Fenced-Partially
School District
Edmonds
Elementary School
Chase Lake Elem
Middle School
College Pl Mid
High School
Edmonds Woodway High
Total Monthly Income
$6,625
Gross Scheduled Income
$79,500
Gross Adjusted Income
$79,500
Tax Year
2024
Insurance Expense
$2,537
W/S/G Expenses
$5,425
Total Expenses
$15,786
Net Operating Income
$63,713
Gross Rent Multiplier
18.87
Cap Rate
4.25
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