Four-Unit Property with
For Sale
$1,450,000
5005 88th St NE, Marysville, WA 98270
Two separate buildings provide private outdoor areas, individual carports, storage, and in-unit laundry.
Property Size2,800 SF
Price / SF$517.86
Days on Market79
Property Features for 5005 88th St NE
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
in-unit washer/dryer
storage
Building Details
Year Built
1969
Buildings
2
Listing Agency:
KW North Sound
Listed By:
Todd D. Duitsman · License #69242
(360) 653-1884
Source:
Lincolnpnwteam
Added: Jul 28
Changed: Oct 4
Last Checked: Oct 12 at 9:35PM
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 KW North Sound
Investment Insights
Based on property information with market context.
This four-unit residential income property contains 2,800 square feet across two separate buildings, with two units in each structure. Every unit includes two bedrooms, one full bathroom, a functional living area, kitchen space, in-unit washer and dryer, individual carport, and additional storage. The property was built in 1969 and has been freshly painted.
A private driveway serves the property, while lawns and spacing between the units provide outdoor areas and separation. The address is near shopping, dining, schools, and major commuter routes in Marysville, Washington.
A private driveway serves the property, while lawns and spacing between the units provide outdoor areas and separation. The address is near shopping, dining, schools, and major commuter routes in Marysville, Washington.
Key Highlights
- Four‑unit property totaling 2,800 square feet
- Two separate buildings with two units in each
- Each unit includes 2 bedrooms and 1 full bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,675
Cap Rate
3.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$933,500
$933.5K
Cap Rate 7%
$666,786
$666.8K
Cap Rate 9%
$518,611
$518.6K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$70.6K $25.20/SF
− Vacancy
−$3.9K −$1.39/SF
EGI
$66.7K $23.81/SF
− OpEx
−$20.0K −$7.14/SF
NOI
$46.7K $16.67/SF
Area
Snohomish County, WA
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$933,500
Cap Rate 7%
$666,786
Cap Rate 9%
$518,611
Alternative Uses
Best Use
Multifamily LT 5
$666.8K
$583.4K – $777.9K
NOI $46,675 @ 7.0% cap · market cap 3.22%
Second Best
Apartment 5plus
$598.3K
$523.5K – $698.0K
NOI $41,880 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$780.9K
$683.3K – $911.0K
NOI $54,661 @ 7.0% cap · market cap 3.77%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
440
Businesses Nearby
Explore this area
Business Placement
Demographics for 98270, WA
51,969
Population
19,840
Households
2.6
Avg Household Size
37
Median Age
23%
College-Educated
93%
High-School Grad
14.3 sq mi
ZIP Area
3,634
Density / Sq Mi
$102,258
Median Household Income
$50,619
Median Earnings
$1,845
Median Rent
$540,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Two separate buildings provide private outdoor areas, individual carports, storage, and in-unit laundry.
Where is this quadplex located?
The property is located at 5005 88th St NE Marysville, WA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Four‑unit property totaling 2,800 square feet; Two separate buildings with two units in each; Each unit includes 2 bedrooms and 1 full bath
