1915 1917 Broadway Avenue, Everett, WA 98201
- $1,200,000
Listing courtesy of Downtown Dennis Real Estate.
- List Price
- $1,200,000
- Status
- ACTIVE
- MLS#
- 2564128
- Days on Market
- 13
- Annual Tax Ammount
- 6647.91
Property Description
Development Potential. Zoned MU15 under the Everett Unified Development Code, permitting development up to 15 floors / 160 feet (EMC 19.22.020, Table 22-1) — exceeded only by the MU25 core. Everett is projected to add roughly 60,000 residents over the next two decades, and the Metro Everett subarea plan targets Downtown Everett for the bulk of that growth. This is a mixed-use development site positioned for multifamily, hotel, office, or ground-floor retail on the Broadway corridor. Income in Place. Two buildings on 6098 SF lot, generate dual-stream rental income — a street-front retail tenant plus a residential apartment at the rear — producing $68,700 in total annual income against $11,953 in expenses, for an NOI of $56,747 (4.73% cap rate) That income allows an incoming investor or developer to offset carrying costs and maintain consistent cash flow while finalizing architectural plans, engineering, and municipal approvals — rather than paying to sit on vacant dirt. Location. Broadway is one of Everett's principal north-south commercial corridors, minutes from Everett Station — Snohomish County's hub for Sounder commuter rail and Amtrak — with direct I-5 access and Downtown Everett's civic and employment core close at hand. Building signage on Broadway. Possession at close of escrow.
Additional Information
- Community
- Everett
- Style
- 60 - Comm Bldg Und 10K
- Year Built
- 1946
- Tax Year
- 2025
- Potential Terms
- Cash, Conventional
- Driving Directions
- From I-5 no, take the exit 198 towards N Everett, continue on for for 1.5 miles. and ends at 1915-1917 Broadway From i-5 so, take exit 192 toward Broadway for 2 miles and ends at 1915-1917 Broadway
- Net Operating Income
- $56,746
- Gross Adjusted Income
- $56,746
- Gross Scheduled Income
- $68,700
- Water/Sewer/Garbage Expenses
- $2,040
- Cap Rate
- 4.73
- Total Expenses
- $11,953
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