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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

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    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.
    Request Owner's contact information
    7119 47Th Ave NE Marysville, WA 98270
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    Marysville, WA 98270
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7119 47Th Ave NE Marysville, WA 98270
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