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4113 156th St SW
Lynnwood, WA 98087 Picnic Point-North Lynnwood

$8,850,000

Apartments For Sale  •  31,618 Sq Ft

Property Details

  • Property Type Apartments
  • Total Building Size 31,618 Sq Ft
  • Lot Size 1.66 ac
  • Building Class C
  • Year Built 1985
  • Cap Rate 5.34 %
  • Zoning MR, Lynnwood
43 Transit Score
47 Walk Score

Description

Mount View Apts provide an investor with the opportunity to own a well-maintained 35-unit building, which consists of 3 buildings in 4plex layouts. All but a few units have hardwood floors and the upstairs units have woodburning fireplaces and balconies. The new owner can install washers/dryers in the remaining units and perform a light remodel to the kitchen and bathrooms to capture even higher rental upside. Additionally, the condo-style units may be converted into condos by a new owner.

Highlights

All balconies were replaced in 2006
Full laundry rooms in two-bedroom units
Spacious back yard with dog park
60 parking spaces
3 miles to Alderwood Mall

Property Flyers

Financial Summary (Actual)

Net Operating Income: $472,752 (2018)
Cap Rate: 5.34 %

Amenities

  • Balcony
  • Dishwasher
  • Fenced Lot
  • Fireplace
  • Property Manager on Site
  • Washer/Dryer Hookup
  • Recycling
  • Kitchen
  • Refrigerator
  • Oven
  • Range
  • Tub/Shower
  • Porch

Public Transportation

Commuter RailDriveWalkDistance
Edmonds Station Commuter Rail (Sounder South Line) 16 min - 6.8 mi
Mukilteo Station Commuter Rail (Sounder South Line) 16 min - 7.4 mi
AirportDriveWalkDistance
Kenmore Air Harbor Inc Airport 23 min - 9.1 mi
Seattle-Tacoma International Airport 50 min - 31.0 mi

Parking Details

Parking Available: No
Reserved: No
Type: Covered
Included in Rent: Yes
Brian Platt 206-623-8880 Paragon Real Estate Advisors
Brian Platt 206-623-8880 Paragon Real Estate Advisors