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 Market34
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
(360) 653-1884
Listed By:
Todd D. Duitsman · License #69242
Source:
Realtywithty
Added: Jul 28
Changed: Aug 28
Last Checked: Aug 29 at 12:27PM
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 = 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
$46,675
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
3.22%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
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 - 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
