3406 OAKES AVE Everett, WA 98201
Purpose-built fourplex with four 2-bedroom units and under-building covered garage parking.
- Added:
- Jul 9, 2026
- Days on Market:
- 3
- Last Refresh:
- Jul 11 at 2:39 am
Property Features for 3406 OAKES AVE
General Information
- Standard status
- Active
- Size
- 3,744 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1985
Listing office Crain Real Estate (425) 482-6100
Listing date Jul 9, 2026
Source Crexi
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All listing content including descriptions, pricing, images are the copyrighted material of Crain Real Estate
Investment Insights
Based on property information with market context.
A standout amenity is the under-building garage parking, with four covered spaces and an automatic garage door, along with additional alley and street parking. The property is positioned near Downtown Everett, Everett Station, Providence Regional Medical Center, and offers convenient access to I-5.
From a practical standpoint, this is a manageable four-unit multifamily asset with normal wear-and-tear, covered parking for residents, and a notable exterior deck system that is at the end of its useful life and should be repaired or replaced.
Key Highlights
- Purpose‑built 4‑plex built in 1985 with four 2‑bedroom units
- Each unit is approximately 950 SF with functional layouts and dishwasher plus in‑unit washer/dryer hookups
- Under‑building garage parking with 4 covered spaces and an automatic garage door
Local 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 | $94.3k | $25.20 |
| − Vacancy | −$5.8k | −$1.55 |
| EGI | $88.5k | $23.65 |
| − OpEx | −$26.6k | −$7.09 |
| NOI | $62.0k | $16.55 |
