Four-Unit Residential Income
For Sale
$1,298,000
3116 18TH, Everett, WA 98201
Four two-bedroom units with forced air heating and on-site laundry, on a 6,098 SF lot with 10 parking spaces.
Property Size3,400 SF
Lot Size0.14 Acres
Price / SF$381.76
Days on Market87
Property Features for 3116 18TH
General Information
Standard status
Active
Size
3,400 SF
Total Parking Spaces
10
Lot size
0.14 Acres
Property subtype
Multi-family
Occupancy
75%
Additional Details
Cap Rate
6.35%
Multifamily Units
4
Amenities
on-site laundry
back patio
Building Details
Year Built
1979
Tenancy
Multi
Listing Agency:
COMPASS
Listed By:
Erich Bubbel
(425) 205-2135
Source:
Skylineproperties
Added: May 5
Changed: Jul 28
Last Checked: Jul 30 at 5:25PM
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
Investment Insights
Based on property information with market context.
This four-unit residential income property consists of four 2BD/1BA units, each with forced air heating and on-site laundry. Two units include back patios. The property is set up for straightforward resident occupancy with on-site laundry and parking to support daily convenience.
The building sits on a 6,098 SF lot and includes 10 parking spaces (approximately 2.5 spaces per unit). According to the available information, one unit is vacant while the other three are tenant-occupied.
Infrastructure notes provided with the listing include a roof that is approximately four years old, copper and ABS plumbing, and GE electrical panels. Each unit is reported as 850 SF, for total stated net rentable area of 3,400 SF.
The building sits on a 6,098 SF lot and includes 10 parking spaces (approximately 2.5 spaces per unit). According to the available information, one unit is vacant while the other three are tenant-occupied.
Infrastructure notes provided with the listing include a roof that is approximately four years old, copper and ABS plumbing, and GE electrical panels. Each unit is reported as 850 SF, for total stated net rentable area of 3,400 SF.
Key Highlights
- Four 2BD/1BA units built in 1979, each with forced air heating and on‑site laundry
- Unit sizes are 850 SF each (3,400 NRA total); all units are two‑bedroom layouts
- 6,098 SF lot with 10 parking spaces (2.5 per unit)
Financial Insights For Multifamily LT 5
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 | $85.7k | $25.20 |
| − Vacancy | −$5.3k | −$1.55 |
| EGI | $80.4k | $23.65 |
| − OpEx | −$24.1k | −$7.09 |
| NOI | $56.3k | $16.55 |
3,400 SF · lease $25.20/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$803.9K
$703.4K – $937.9K
NOI $56,275 @ 7.0% cap · market cap 4.34%
Second Best
Apartment 5plus
$719.4K
$629.4K – $839.3K
NOI $50,355 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$1.13M
$984.8K – $1.31M
NOI $78,780 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
75%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
740
Businesses Nearby
Explore this area
Business Placement
Demographics for 98201, WA
30,421
Population
15,196
Households
2
Avg Household Size
39
Median Age
29%
College-Educated
91%
High-School Grad
18.8 sq mi
ZIP Area
1,618
Density / Sq Mi
$73,822
Median Household Income
$48,830
Median Earnings
$1,443
Median Rent
$476,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom units with forced air heating and on-site laundry, on a 6,098 SF lot with 10 parking spaces.
Where is this quadplex located?
The property is located at 3116 18TH Everett, WA.
What is the asking price?
The asking price for this property is $1,298,000.
What are key features of this property?
This property features: Four 2BD/1BA units built in 1979, each with forced air heating and on‑site laundry; Unit sizes are 850 SF each (3,400 NRA total); all units are two‑bedroom layouts; 6,098 SF lot with 10 parking spaces (2.5 per unit)
