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4223 164th St SW
Lynnwood, WA 98087 Picnic Point-North Lynnwood

$1,575,000

Apartments For Sale  •  5,982 Sq Ft

Property Details

  • Property Type Apartments
  • Total Building Size 5,982 Sq Ft
  • Lot Size 0.5 ac
  • Building Class C
  • Year Built 1989
  • Cap Rate 5.81 %
  • Zoning MR
39 Transit Score
40 Walk Score

Description

Six-unit property consisting of a townhome-style Fourplex and a rambler Duplex sitting on a .5 Acre Parcel. Fully-Occupied w/ Great CashFlow and room to raise rents (6.7% Market Cap Rate). Solid turn-key investment property. Property zoning would allow for 11 units and there is room to build more. Lots of value-add options! Remodeled interiors & upgraded exteriors. New windows; newer roof, etc. Located in desirable Lynnwood w/ proximity to freeways, major employers, retail & restaurants.

Highlights

6.72% Market Cap Rate
Property Zoning would allow for 11 Units
New Windows

Property Flyers

Financial Summary (Actual)

Net Operating Income: $91,537 (2019)
Cap Rate: 5.81 %
Total Expenses: $19,403

Amenities

  • Gas Range

Public Transportation

Commuter RailDriveWalkDistance
Edmonds Station Commuter Rail (Sounder South Line) 15 min - 6.3 mi
Mukilteo Station Commuter Rail (Sounder South Line) 17 min - 7.9 mi
AirportDriveWalkDistance
Kenmore Air Harbor Inc Airport 21 min - 8.6 mi
Seattle-Tacoma International Airport 49 min - 30.5 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 11
Type: Surface
Included in Rent: Yes
Charles Burnett 206-931-6036 KW Commercial / Sound Realty Group
Charles Burnett 206-931-6036 KW Commercial / Sound Realty Group