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7119 47Th Ave NE Marysville, WA 98270

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For Sale
$1,450,000

Multifamily property with income upside and development potential.

Building Details

Year built
1961

Source: JOHN L. SCOTT - MUKILTEO Agent JESI WILLIAMS

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Multifamily Property with Development Potential

This multifamily property offers potential for future development of additional units. Financial data from 2023 is not indicative of the property's current situation due to market changes following the end of the eviction moratorium. Nonpayment issues have been addressed, and the property is now fully occupied. Utility buy backs started halfway through 2024, increasing the property's income. Nearly half of the units are currently under market rent, presenting an opportunity to increase income by adjusting all units to market rates.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Arnold Apartments Apartment Building Quality and Cleaning House Cleaning Service Quality and Cleaning - Residential ... House Cleaning Service

Suggested Use

Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Marysville
County
Snohomish
State
Washington
Longitude
-122.1672656
Latitude
48.060918

FAQs

What type of property is this?
Apartment building - Multifamily property with income upside and development potential.
Where is this apartment building located?
The property is located at 7119 47Th Ave NE Marysville, WA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: - Potential for increased income by adjusting below-market rents to current market rates.; - Utility buy backs started in 2024, increasing property income.; - Property is now fully occupied after addressing previous nonpayment issues.
More about this property
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