Six-Unit Apartment
For Sale
$1,399,000
17816 44TH, Lynnwood, WA 98037
Updated kitchens, resident parking, and full occupancy support established multifamily operations.
Property Size3,600 SF
Price / SF$388.61
Days on Market63
Property Features for 17816 44TH
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Multi-family
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
6
Building Details
Year Built
1962
Listing Agency:
Kelly Right RE of Seattle LLC
Listed By:
Anna Ngo · License #NWM46801
(425) 205-2135
Source:
Skylineproperties
Added: Aug 15
Changed: Oct 15
Last Checked: Oct 14 at 11:36PM
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 Kelly Right RE of Seattle LLC
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Investment Insights
Based on property information with market context.
This six-unit apartment property was built in 1962 and is currently occupied across all units. Interior updates include granite kitchen countertops, while a large concrete driveway provides dedicated parking stalls for residents. The property offers an established multifamily configuration with long-term tenancy, including multiple residents who have remained in place for 6+ years.
Located at 17816 44th Avenue W in Lynnwood, the property provides access to I-5, shopping, transit, and area amenities. The front portion of the property may offer an additional lot or development opportunity; zoning, feasibility, and development potential require verification with the appropriate jurisdiction. Exterior viewing is available without disturbing tenants.
Located at 17816 44th Avenue W in Lynnwood, the property provides access to I-5, shopping, transit, and area amenities. The front portion of the property may offer an additional lot or development opportunity; zoning, feasibility, and development potential require verification with the appropriate jurisdiction. Exterior viewing is available without disturbing tenants.
Key Highlights
- Six‑unit apartment property with all six units currently occupied
- Units updated with granite countertops in the kitchens
- Large concrete driveway with dedicated resident parking stalls
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,846
Cap Rate
3.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,076,920
$1.1M
Cap Rate 7%
$769,229
$769.2K
Cap Rate 9%
$598,289
$598.3K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$105.8K $29.40/SF
− Vacancy
−$7.9K −$2.21/SF
EGI
$97.9K $27.20/SF
− OpEx
−$44.1K −$12.24/SF
NOI
$53.8K $14.96/SF
Area
Snohomish County, WA
Vacancy
7.50%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,076,920
Cap Rate 7%
$769,229
Cap Rate 9%
$598,289
Alternative Uses
Best Use
Apartment 5plus
$769.2K
$673.1K – $897.4K
NOI $53,846 @ 7.0% cap · market cap 3.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.00M
$878.5K – $1.17M
NOI $70,278 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
6
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
547
Businesses Nearby
Explore this area
Business Placement
Demographics for 98037, WA
29,584
Population
12,032
Households
2.5
Avg Household Size
39
Median Age
37%
College-Educated
88%
High-School Grad
5.8 sq mi
ZIP Area
5,101
Density / Sq Mi
$104,357
Median Household Income
$57,281
Median Earnings
$1,864
Median Rent
$683,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Updated kitchens, resident parking, and full occupancy support established multifamily operations.
Where is this apartment building located?
The property is located at 17816 44TH Lynnwood, WA.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Six‑unit apartment property with all six units currently occupied; Units updated with granite countertops in the kitchens; Large concrete driveway with dedicated resident parking stalls
