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    Multifamily Property with 28 Units Title is generated by Realmo AI

    21125 81st Dr NE, Arlington, WA 98223

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    Multifamily property featuring 28 units in Arlington, Washington.

    Type:Multifamily
    Property size:
    28,247 SF
    Price / SF:
    $258/SF
    Added:
    Mar 17, 2026
    Days on Market:
    111
    Last Refresh:
    Mar 20 at 12:03 am

    Property Features for 21125 81st Dr NE

    General Information

    Standard status
    Active
    Size
    28,247 SF
    Property subtype
    Multifamily

    Building Details

    Year Built
    1992

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    Joe Kinkopf

    Listing office Northmarq

    Listing date Mar 17, 2026

    Source Crexi

    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 Northmarq

    HighLights

    • Multifamily property with 28 units
    • Price per unit: $260,714
    • Built in 1992

    Overview

    This multifamily property, located in Arlington, Washington, comprises 28 units. The property contains a total of 28,247 square feet. The property is intended for multifamily residential use.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $830.5k $29.40
    − Vacancy −$62.3k −$2.21
    EGI $768.2k $27.20
    − OpEx −$345.7k −$12.24
    NOI $422.5k $14.96
    28,247 SF · lease $29.40/SF/yr · vacancy 7.50% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $6.04M
    $5.28M – $7.04M (±1% cap)
    NOI $422,497 @ 7.0% cap · market cap 5.79%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $7.88M
    $6.89M – $9.19M (±1% cap)
    NOI $551,432 @ 7.0% cap · market cap 7.55%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Hotel & Motel Garden Center Shopping Center & Mall Restaurant Arcade & Gaming Center Electronics & Wireless Store (Bike/Boat/Book/etc) Store Electrical Service Computer & Electronic Repair (Bike/Boat/Book/etc) Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Arlington
    County
    Snohomish
    State
    Washington
    Longitude
    -122.119904
    Latitude
    48.18583

    FAQs

    What type of property is this?
    Apartment building - Multifamily property featuring 28 units in Arlington, Washington.
    Where is this apartment building located?
    The property is located at 21125 81st Dr NE Arlington, WA.
    What is the asking price?
    The asking price for this property is $7,300,000.
    What are key features of this property?
    This property features: Multifamily property with 28 units; Price per unit: $260,714; Built in 1992
    More about this property
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