2517 Howard Ave Everett, WA 98203 – 2517 Howard Avenue

2517 Howard Avenue (Status: Pending) 4200000

2517, Howard Ave, Everett, WA  98203

2517 Howard Avenue in Everett, WA, offered by Compass Commercial | Keller Williams Commercial, is a well-positioned 22-unit multifamily property built in 1968.The asset features 21,470 net rentable square feet on a 27,878-square-foot lot and is priced at $4,200,000, equating to $190,909 per unit and $195.62 per square foot. The property is currently operating at a 5.50% cap rate, with a stabilized market cap rate projected at 6.25% and a gross rent multiplier (GRM) of 10.99. Current operations generate $382,188 in scheduled income and $230,940 in net operating income, while pro forma projections show annual scheduled income of $483,071 and a renovated yield on cost of 7.63%. Additional revenue from garages, storage, onsite laundry, and parking enhances operational stability, while recent

Listing Details

Asset Class: Multi-Family
Year Built: 1968
Building Total Square Feet: 25974
Available Lease Space Square Feet:
Number of Floors: 2
Total Parking Spaces: 0
Local Zoning Information: UR3

Listing Courtesy of: COMPASS

Disclaimer: The information contained in this listing has not been verified by Pacific Continental Realty, LLC and should be verified by the tenant or buyer.