Remodeled 4-Plex Residential
For Sale
$887,600
Pending
130 Stanford Drive, Mount Vernon, WA 98273
Four 2-bedroom, 1-bath units offer central laundry, off-street parking, and a recently installed roof.
Property Size3,576 SF
Days on Market362
Property Features for 130 Stanford Drive
General Information
Standard status
Pending
Size
3,576 SF
Property subtype
Pending
Net Operating Income
$57,513
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$7,814
Amenities
Laminate,Vinyl Plank
Yes
No
2
Electric
Paved,Sidewalk
0.3
Wood
3576
4
Building Details
Building Size
3,576 SF
Year Built
1977
Stories
2
Tenancy
Multi
Listing Agency:
Lighthouse Realty
(360) 693-6139
Listed By:
Autumn Feest
(916) 500-9565
Source:
Premierepropertygroup
Added: Sep 9, 2025
Changed: Sep 4
Last Checked: Sep 4 at 2:22AM
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 Lighthouse Realty
Investment Insights
Based on property information with market context.
Well-kept 4-plex located on a hill in Mount Vernon. The property features four 2-bedroom, 1-bath units, with many units updated to include new kitchens, baths, and flooring. The building also includes central laundry and off-street parking.
The home is close to medical, schools, retail, and restaurants, supporting convenient daily access for occupants.
Recent improvements include a new roof.
The home is close to medical, schools, retail, and restaurants, supporting convenient daily access for occupants.
Recent improvements include a new roof.
Key Highlights
- 4‑plex with four 2‑bedroom, 1‑bath units
- Many units remodeled with new kitchens, baths, and flooring
- Central laundry and off‑street parking; 4 uncovered parking spaces
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
$27,254
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
3.07%
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%
$545,080
$545.1K
Cap Rate 7%
$389,343
$389.3K
Cap Rate 9%
$302,822
$302.8K
Market Conditions
NOI Build-Up for 3,576 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
$39.5K $11.04/SF
− Vacancy
−$545 −$0.15/SF
EGI
$38.9K $10.89/SF
− OpEx
−$11.7K −$3.27/SF
NOI
$27.3K $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%
$545,080
Cap Rate 7%
$389,343
Cap Rate 9%
$302,822
Alternative Uses
Best Use
Multifamily LT 5
$389.3K
$340.7K – $454.2K
NOI $27,254 @ 7.0% cap · market cap 3.07%
Second Best
Apartment 5plus
$338.9K
$296.6K – $395.4K
NOI $23,725 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$1.45M
$1.27M – $1.70M
NOI $101,808 @ 7.0% cap · market cap 11.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,027
Businesses Nearby
Explore this area
Business Placement
Demographics for 98273, WA
31,243
Population
11,991
Households
2.6
Avg Household Size
37
Median Age
25%
College-Educated
87%
High-School Grad
83.9 sq mi
ZIP Area
372
Density / Sq Mi
$74,247
Median Household Income
$42,168
Median Earnings
$1,171
Median Rent
$448,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four 2-bedroom, 1-bath units offer central laundry, off-street parking, and a recently installed roof.
Where is this quadplex located?
The property is located at 130 Stanford Drive Mount Vernon, WA.
What is the asking price?
The asking price for this property is $887,600.
What are key features of this property?
This property features: 4‑plex with four 2‑bedroom, 1‑bath units; Many units remodeled with new kitchens, baths, and flooring; Central laundry and off‑street parking; 4 uncovered parking spaces
