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Mixed-Use Asset in Downtown Everett

1313 Hewitt Ave, Everett, WA 98201

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For Sale

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Fully leased 17-unit property with development potential in Everett's urban zone.

Type:MULTIFAMILY

Property size:

19,768 SF

Lot size:

0.33 Acres

Price / SF:

$230/SF

HighLights

Fully leased 17‑unit mixed‑use asset in downtown Everett, providing immediate income.
Significant capital improvements completed: new roof, exterior paint, updated sewer lines, and eight renovated apartments.
Nine modern apartments with open floor plans, stylish interiors, and LVP flooring.
Eight fully leased commercial units ensure consistent cash flow.
Located in Everett’s Mixed Urban (MU) zone, offering significant future development potential.
On‑site laundry and optional private parking for residents.

We can help!

Listing Contact

Ben Kaufman

For Sale

Contact for pricing

Fully leased 17-unit property with development potential in Everett's urban zone.

Type:MULTIFAMILY

Property size:

19,768 SF

Lot size:

0.33 Acres

Price / SF:

$230/SF

Added:: Feb 3, 2025
Days on Market:: 495
Last Refresh:: Apr 5 at 8:10 pm

Property Features for 1313 Hewitt Ave

General Information

Standard status: Active
Size: 19,768 SF
Lot size: 0.33 Acres
Property subtype: MULTIFAMILY

We can help!

Listing Contact

Ben Kaufman

Listing agent Ben Kaufman

Listing office Compass Washington

Listing date Feb 3, 2025

Source Moodyscre

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 Compass Washington

HighLights

Fully leased 17‑unit mixed‑use asset in downtown Everett, providing immediate income.
Significant capital improvements completed: new roof, exterior paint, updated sewer lines, and eight renovated apartments.
Nine modern apartments with open floor plans, stylish interiors, and LVP flooring.
Eight fully leased commercial units ensure consistent cash flow.
Located in Everett’s Mixed Urban (MU) zone, offering significant future development potential.
On‑site laundry and optional private parking for residents.

Overview

This fully leased 17-unit mixed-use property is located at the corner of Hewitt and Rucker in downtown Everett. The property has undergone capital improvements, including a new roof, fresh exterior paint, updated sewer lines, and eight renovated apartments. The residential component features nine apartments, including six 1-bedroom and three 2-bedroom units, each with open floor plans, stylish interiors, and LVP flooring. On-site laundry is available for residents, with the option to rent one of six private parking spaces. The street-level retail space consists of eight fully leased commercial units. Positioned within Everett’s Mixed Urban (MU) zone, this property has future development potential, with zoning maps indicating allowable building heights ranging from 12 to 25 stories. The property size is 19768 square feet.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$569.3k	$28.80
− Vacancy	−$37.0k	−$1.87
EGI	$532.3k	$26.93
− OpEx	−$239.5k	−$12.12
NOI	$292.8k	$14.81

19,768 SF · lease $28.80/SF/yr · vacancy 6.50% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$4.18M

$3.66M – $4.88M (±1% cap)

NOI $292,772 @ 7.0% cap · market cap 6.43%

Second Best

Retail

$4.08M

$3.57M – $4.76M (±1% cap)

NOI $285,442 @ 7.0% cap · market cap 6.27%

Theoretical Best

Office A

$6.54M

$5.73M – $7.63M (±1% cap)

NOI $458,036 @ 7.0% cap · market cap 10.07%

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

Property Profile Location Intelligence

Current Use by Public Records

Everett Custom Signs (Bike/Boat/Book/etc) Store

Suggested Use

Location Insight

Map
Local Demand

City: Everett
County: Snohomish
State: Washington
Longitude: -122.212
Latitude: 47.9796

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For sale
Mixed-use properties
WA
Everett
98201
1313 Hewitt Ave

What type of property is this?

Mixed-use property - Fully leased 17-unit property with development potential in Everett's urban zone.

Where is this mixed-use property located?

The property is located at 1313 Hewitt Ave Everett, WA.

What is the asking price?

The asking price for this property is $4,550,000.

What are key features of this property?

This property features: Fully leased 17‑unit mixed‑use asset in downtown Everett, providing immediate income.; Significant capital improvements completed: new roof, exterior paint, updated sewer lines, and eight renovated apartments.; Nine modern apartments with open floor plans, stylish interiors, and LVP flooring.

1313 Hewitt Ave, Everett, WA 98201

Fully leased 17-unit property with development potential in Everett's urban zone.

Property Features for 1313 Hewitt Ave

General Information

We can help!

HighLights

Overview

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Retail Opportunity on High-Visibility Corner

Everett Retail/Medical Building on Broadway

Restaurant Building on Broadway Avenue

Everett Commercial Property with Upside

Everett NAPA Auto Parts Property

Everett Industrial Facility with Yard

Everett NAPA Auto Parts Investment

Everett Industrial Investment Opportunity

Everett Retail Space on Broadway

Medical Office Space Available

Heated Hangar with Bi-Fold Door

Everett Office Building For Sale

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