Sedro Woolley Multifamily
For Sale
Contact for pricing
410 Murdock St, Sedro Woolley, WA 98284
Well-maintained 6-plex with upgraded units in a quiet location.
Property Size6,340 SF
Price / SF$229.18
Days on Market176
Property Features for 410 Murdock St
General Information
Standard status
Active
Size
6,340 SF
Property subtype
Multifamily
Zoning
MF
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$91,772
Building Details
Year Built
1977
Year Renovated
2022
Buildings
2
Stories
2
Listing Agency:
Windermere Real Estate / Skagit Valley
Listed By:
Balisa Koetje · License #WA
Source:
Crexi
Added: Feb 16
Changed: Aug 8
Last Checked: Aug 10 at 5:49AM
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 Windermere Real Estate / Skagit Valley
Investment Insights
Based on property information with market context.
This is a well-cared-for 6-plex located on a quiet street in Sedro Woolley. The units have been upgraded with new kitchens, bathrooms, flooring, and paint during tenant changeovers. The exterior of the property features new paint and a new roof. The property size is 6340 square feet.
Key Highlights
- Well‑maintained 6‑plex investment property.
- Upgraded units with new kitchens, bathrooms, flooring, and paint.
- New exterior paint and roof.**
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$42,062
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.89%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$841,240
$841.2K
Cap Rate 7%
$600,886
$600.9K
Cap Rate 9%
$467,356
$467.4K
Market Conditions
NOI Build-Up for 6,340 SF
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.
Gross rent
$77.6K $12.24/SF
− Vacancy
−$1.1K −$0.18/SF
EGI
$76.5K $12.06/SF
− OpEx
−$34.4K −$5.43/SF
NOI
$42.1K $6.63/SF
Area
Skagit County, WA
Vacancy
1.45%
Lease Rate
$12.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$841,240
Cap Rate 7%
$600,886
Cap Rate 9%
$467,356
Alternative Uses
Best Use
Apartment 5plus
$600.9K
$525.8K – $701.0K
NOI $42,062 @ 7.0% cap · market cap 2.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.58M
$2.26M – $3.01M
NOI $180,498 @ 7.0% cap · market cap 12.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
616
Businesses Nearby
Explore this area
Business Placement
Demographics for 98284, WA
27,293
Population
11,095
Households
2.5
Avg Household Size
39
Median Age
20%
College-Educated
89%
High-School Grad
281.3 sq mi
ZIP Area
97
Density / Sq Mi
$82,097
Median Household Income
$50,074
Median Earnings
$1,476
Median Rent
$427,900
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?
Apartment building - Well-maintained 6-plex with upgraded units in a quiet location.
Where is this apartment building located?
The property is located at 410 Murdock St Sedro Woolley, WA.
What is the asking price?
The asking price for this property is $1,453,000.
What are key features of this property?
This property features: Well‑maintained 6‑plex investment property.; Upgraded units with **new kitchens, bathrooms, flooring, and paint.**; New exterior paint and roof.**
