Historic Three-Unit
For Sale
$589,000
1100 Borseth Street, Sedro Woolley, WA 98284
Two-story multifamily property with separate residences, dishwashers, and in-unit laundry.
Property Size3,023 SF
Lot Size0.55 Acres
Price / SF$194.84
Days on Market201
Property Features for 1100 Borseth Street
General Information
Standard status
Active
Size
3,023 SF
Total Parking Spaces
6
Lot size
0.55 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR, 1 x 1BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$300
Amenities
Vinyl,Carpet
Yes
No
2
Electric
Dead End Street
Public
6
0.55
See Remarks
Poured Concrete
3023
Building Details
Building Size
3,023 SF
Year Built
1900
Stories
2
Listing Agency:
KW North Sound
(509) 250-0262
Listed By:
Jenny Montgomery
(509) 250-0262
Source:
Premierepropertygroup
Added: Feb 10
Changed: Aug 29
Last Checked: Aug 30 at 1:30PM
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 KW North Sound
Investment Insights
Based on property information with market context.
Built in 1900, this two-story triplex contains 3 separate units totaling 3,023 square feet. The unit mix includes two two-bedroom, one-bath residences and one one-bedroom residence. Each unit is equipped with a dishwasher and washer and dryer, providing practical in-home amenities across the property.
The property occupies a 23,958-square-foot lot at 1100 Borseth Street in Sedro Woolley, Washington. Zoning is identified for up to 3 additional triplexes, subject to buyer verification. The existing building and unit configuration offer a defined multifamily asset with additional site-planning considerations.
The property occupies a 23,958-square-foot lot at 1100 Borseth Street in Sedro Woolley, Washington. Zoning is identified for up to 3 additional triplexes, subject to buyer verification. The existing building and unit configuration offer a defined multifamily asset with additional site-planning considerations.
Key Highlights
- 3‑unit, two‑story multifamily property built in 1900
- 3,023 square feet across three separate units
- Unit mix includes two 2‑bedroom units and one 1‑bedroom unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,039
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$460,780
$460.8K
Cap Rate 7%
$329,129
$329.1K
Cap Rate 9%
$255,989
$256.0K
Market Conditions
NOI Build-Up for 3,023 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$33.4K $11.04/SF
− Vacancy
−$461 −$0.15/SF
EGI
$32.9K $10.89/SF
− OpEx
−$9.9K −$3.27/SF
NOI
$23.0K $7.62/SF
Area
Skagit County, WA
Vacancy
1.38%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$460,780
Cap Rate 7%
$329,129
Cap Rate 9%
$255,989
Alternative Uses
Best Use
Multifamily LT 5
$329.1K
$288.0K – $384.0K
NOI $23,039 @ 7.0% cap · market cap 3.91%
Second Best
Apartment 5plus
$286.5K
$250.7K – $334.3K
NOI $20,056 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$1.23M
$1.08M – $1.43M
NOI $86,064 @ 7.0% cap · market cap 14.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
586
Businesses Nearby
Explore this area
Business Placement
Demographics for 98284, WA
27,293
Population
11,095
Households
2.5
Avg Household Size
39
Median Age
20%
College-Educated
89%
High-School Grad
281.3 sq mi
ZIP Area
97
Density / Sq Mi
$82,097
Median Household Income
$50,074
Median Earnings
$1,476
Median Rent
$427,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Two-story multifamily property with separate residences, dishwashers, and in-unit laundry.
Where is this triplex located?
The property is located at 1100 Borseth Street Sedro Woolley, WA.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: 3‑unit, two‑story multifamily property built in 1900; 3,023 square feet across three separate units; Unit mix includes two 2‑bedroom units and one 1‑bedroom unit
