Gated Multifamily Property with Multiple
For Sale
$1,675,000
20505 111TH, Snohomish, WA 98296
Gated acreage property with multiple kitchens and existing residential layouts.
Property Size6,000 SF
Price / SF$279.17
Days on Market80
Property Features for 20505 111TH
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Multi-family
Building Details
Year Built
1991
Listing Agency:
Realty One Group Enterprise
Listed By:
Kevin Zellmer
(425) 453-4597
Source:
Skylineproperties
Added: Aug 5
Changed: Oct 21
Last Checked: Oct 21 at 12:07AM
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 Realty One Group Enterprise
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Investment Insights
Based on property information with market context.
This gated multifamily property includes approximately 6,000 square feet of existing residential improvements on 6.45 acres. The home contains 6 bedrooms, 3 kitchens, and a fourth kitchen bar, creating a flexible interior layout for renovation or reconfiguration. Built in 1991, the property includes existing home improvements and an inspected septic system.
Two tax parcels are included in the sale. Additional structures are not available for permitting, so future plans are limited to the existing home and its current layouts. The grounds are currently overgrown and the interior requires work, while prior property photographs show the landscaped condition previously associated with the site. Located in Snohomish County, the property offers substantial acreage with a gated residential setting.
Two tax parcels are included in the sale. Additional structures are not available for permitting, so future plans are limited to the existing home and its current layouts. The grounds are currently overgrown and the interior requires work, while prior property photographs show the landscaped condition previously associated with the site. Located in Snohomish County, the property offers substantial acreage with a gated residential setting.
Key Highlights
- 6.45‑acre gated property in Snohomish County
- Approximately 6,000 square feet of existing improvements
- 6 bedrooms with 3 kitchens and a fourth kitchen bar
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,744
Cap Rate
5.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,794,880
$1.8M
Cap Rate 7%
$1,282,057
$1.3M
Cap Rate 9%
$997,156
$997.2K
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$176.4K $29.40/SF
− Vacancy
−$13.2K −$2.21/SF
EGI
$163.2K $27.20/SF
− OpEx
−$73.4K −$12.24/SF
NOI
$89.7K $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%
$1,794,880
Cap Rate 7%
$1,282,057
Cap Rate 9%
$997,156
Alternative Uses
Best Use
Apartment 5plus
$1.28M
$1.12M – $1.50M
NOI $89,744 @ 7.0% cap · market cap 5.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $117,131 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
Explore this area
Business Placement
Demographics for 98296, WA
27,713
Population
9,573
Households
2.9
Avg Household Size
41
Median Age
48%
College-Educated
97%
High-School Grad
34.5 sq mi
ZIP Area
803
Density / Sq Mi
$172,468
Median Household Income
$76,918
Median Earnings
$2,325
Median Rent
$867,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Gated acreage property with multiple kitchens and existing residential layouts.
Where is this multifamily property located?
The property is located at 20505 111TH Snohomish, WA.
What is the asking price?
The asking price for this property is $1,675,000.
What are key features of this property?
This property features: 6.45‑acre gated property in Snohomish County; Approximately 6,000 square feet of existing improvements; 6 bedrooms with 3 kitchens and a fourth kitchen bar
