- Property Type: multifamily
Description
4223 164th St SW, Lynnwood, WA 98087
6 Unit Apartment Building
EXECUTIVE SUMMARY
6-unit property consisting of a townhome-style Fourplex building and a rambler duplex sitting on a single .5 acre parcel. VALUE-ADD WITH LOTS OF OPTIONS. Zoning will allow for 11 units with room to build more. Currently offered at a 5.5% Cap Rate; Fully-occupied with stable tenants, great cash flow, and significant room to raise rents to a 6.5% Market Cap Rate. Some updated interiors & upgraded exteriors. Newer windows, newer roofs, etc. All units have W/D hook-ups. High-demand rental located in desirable Lynnwood w/ proximity to freeways, major employers, retail & restaurants.
INVESTMENT HIGHLIGHTS
- 6-unit property consisting of a townhome-style Fourplex building and a rambler duplex sitting on one .5 acre parcel.
- Zoning will allow for 11 units with room to build more. Lots of value-add options.
- High-demand rental located in desirable Lynnwood w/ proximity to freeways, major employers, retail & restaurants.
- Currently offered at a 5.5% Cap Rate; Fully-occupied with great cash flow and significant room to raise rents. Solid turn-key investment property.
- Newer windows, newer roof, etc. All units have W/D hook-ups.
- Some updated interiors & upgraded exteriors.
Details
- Lot Size (Acres or SF): 0.50 AC
- Building Class: C
- Zoning: IG2 U/65