Multifamily Investment Opportunity in
303 Poppy Rd Bothell, WA 98012
For Sale
$4,199,900
Pending
17-unit multifamily property in Bothell's Canyon Park area.
Property Size12,750 SF
Lot Size4.55 Acres
Days on Market250
Property Features for 303 Poppy Rd
General Information
- Standard status
- Pending
- Size
- 12,750 SF
- Lot size
- 4.55 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1968
Listing Agency:
REAL ESTATE 2000 CORP.
(425) 280-6542
Listed By:
DAVID HILBERT
Source:
Corcoran
Added: Nov 19, 2025
Changed: Jul 6
Last Checked: Jul 23 at 6:35AM
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 REAL ESTATE 2000 CORP.
Investment Insights
Based on property information with market context.
Located in Bothell's Canyon Park area, this multifamily property offers an investment opportunity. The property, situated on 4.55 acres, includes 17 units with a total building square footage of 12,750. The unit mix consists of one three-bedroom unit (approximately 1,000 sq. ft.), eight two-bedroom units (approximately 800 sq. ft.), and eight one-bedroom units (approximately 600 sq. ft.). The property provides 27 parking spaces and coin-operated laundry. The roof is 10 years old. Recent renovations have been completed in eight units, and deck updates were completed 4-5 years ago. The property consists of five separate lots. The 2024 proforma gross income is $362,651, with a net income of $276,767 and a cap rate.
Key Highlights
- Desirable Canyon Park location in Bothell on a private and secluded 4.55‑acre property.
- Strong income potential with a 2024 Proforma Net Income of $276,767 and below‑market rents offering value‑add opportunities.
- 17 well‑maintained units with an ideal mix of one, two, and three‑bedroom units suitable for strong tenant demand.
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 | $374.9k | $29.40 |
| − Vacancy | −$28.1k | −$2.21 |
| EGI | $346.7k | $27.20 |
| − OpEx | −$156.0k | −$12.24 |
| NOI | $190.7k | $14.96 |
12,750 SF · lease $29.40/SF/yr · vacancy 7.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.72M
$2.38M – $3.18M
NOI $190,705 @ 7.0% cap · market cap 4.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.56M
$3.11M – $4.15M
NOI $248,903 @ 7.0% cap · market cap 5.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - 17-unit multifamily property in Bothell's Canyon Park area.
Where is this apartment building located?
The property is located at 303 Poppy Rd Bothell, WA.
What is the asking price?
The asking price for this property is $4,199,900.
What are key features of this property?
This property features: Desirable Canyon Park location in Bothell on a private and secluded 4.55‑acre property.; Strong income potential with a 2024 Proforma Net Income of $276,767 and below‑market rents offering value‑add opportunities.; 17 well‑maintained units with an ideal mix of one, two, and three‑bedroom units suitable for strong tenant demand.
