Four-Unit Quadplex with
For Sale
$1,115,000
1-4-514 124th Pl Sw, Everett, WA 98208
Fully leased two-story property with separately metered units, covered parking, storage, and on-site coin laundry.
Property Size3,568 SF
Lot Size0.22 Acres
Price / SF$312.50
Days on Market55
Property Features for 1-4-514 124th Pl Sw
General Information
Standard status
Active
Size
3,568 SF
Total Parking Spaces
11
Lot size
0.22 Acres
Property subtype
Residential Income
Occupancy
100%
Site & Location
Neighborhood
Silver Lake
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,757
Amenities
on-site coin laundry
deck
patio
Building Details
Year Built
1978
Buildings
1
Stories
2
Construction
wood frame
Listing Agency:
Real Broker LLC
Listed By:
Mina Mina Farag
(855) 450-0442
Source:
Exprealty
Added: Sep 2
Changed: Oct 25
Last Checked: Oct 26 at 5:30PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Real Broker LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This four-unit residential income property contains four matching two-bedroom, one-bath apartments, each measuring 892 square feet. The two-story, 3,568-square-foot wood-frame building was constructed in 1978 on a poured-concrete foundation and slab. All units are leased on 12-month terms with expirations staggered into 2027. Baseboard and wall heat serve the apartments, which are separately metered for electricity and garbage. Water and sewer are currently owner paid.
The property includes 11 parking spaces, including four covered carports with storage, along with a deck, patio, and partially fenced outdoor areas. An on-site coin laundry provides an additional income stream. Located on a dead-end street at 1-4-514 124th Pl SW in Everett, the property is minutes from Interstate 5, the Mariner Park and Ride, and the Boeing Everett campus at Paine Field. Rent roll, leases, and expense details are available on request.
The property includes 11 parking spaces, including four covered carports with storage, along with a deck, patio, and partially fenced outdoor areas. An on-site coin laundry provides an additional income stream. Located on a dead-end street at 1-4-514 124th Pl SW in Everett, the property is minutes from Interstate 5, the Mariner Park and Ride, and the Boeing Everett campus at Paine Field. Rent roll, leases, and expense details are available on request.
Key Highlights
- Four identical 2 bedroom, 1 bath units at 892 square feet each
- 3,568‑square‑foot two‑story building constructed in 1978
- All units leased on 12 month terms with expirations staggered into 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,056
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,181,120
$1.2M
Cap Rate 7%
$843,657
$843.7K
Cap Rate 9%
$656,178
$656.2K
Market Conditions
NOI Build-Up for 3,568 SF
Gross rent
$89.9K $25.20/SF
− Vacancy
−$5.5K −$1.55/SF
EGI
$84.4K $23.65/SF
− OpEx
−$25.3K −$7.09/SF
NOI
$59.1K $16.55/SF
Area
Everett, WA
Vacancy
6.17%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,181,120
Cap Rate 7%
$843,657
Cap Rate 9%
$656,178
Alternative Uses
Best Use
Multifamily LT 5
$843.7K
$738.2K – $984.3K
NOI $59,056 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$754.9K
$660.6K – $880.7K
NOI $52,844 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,673 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
346
Businesses Nearby
Explore this area
Business Placement
Demographics for 98208, WA
60,019
Population
22,534
Households
2.7
Avg Household Size
37
Median Age
34%
College-Educated
91%
High-School Grad
15.2 sq mi
ZIP Area
3,949
Density / Sq Mi
$102,546
Median Household Income
$53,626
Median Earnings
$1,859
Median Rent
$641,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased two-story property with separately metered units, covered parking, storage, and on-site coin laundry.
Where is this quadplex located?
The property is located at 1-4-514 124th Pl Sw Everett, WA.
What is the asking price?
The asking price for this property is $1,115,000.
What are key features of this property?
This property features: Four identical 2 bedroom, 1 bath units at 892 square feet each; 3,568‑square‑foot two‑story building constructed in 1978; All units leased on 12 month terms with expirations staggered into 2027
