Duplex with Shared
For Sale
$599,950
5021 Sperry Lane, Everett, WA 98203
Both residences are leased through December 31, 2027, with separate front and rear entrances for each unit.
Property Size1,622 SF
Lot Size0.20 Acres
Price / SF$369.88
Days on Market20
Property Features for 5021 Sperry Lane
General Information
Standard status
Active
Size
1,622 SF
Lot size
0.20 Acres
Property subtype
Multi Family
Site & Location
Neighborhood
South Forest Park
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Building Details
Year Built
1941
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Pacific Properties
(425) 387-9944
Listed By:
George Caudill · License #81523
(425) 381-0877
Source:
Dalewalters
Added: Oct 12
Changed: Oct 31
Last Checked: Oct 31 at 3:00AM
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 Pacific Properties
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Investment Insights
Based on property information with market context.
Built in 1941, this single-story duplex contains two residences, each with 2 bedrooms, 1 full bath, and approximately 763 square feet. Wood and laminate flooring and appliances are included. Each unit has its own front and rear entrance. A shared 2-car garage provides one covered parking space per residence, with additional parking also available. Double-pane windows are installed, and Unit B received a gas furnace in 2013. The property occupies a .20-acre lot.
Unit A faces Sperry Lane, while Unit B faces Woodlawn Avenue. Restaurants, shopping, medical services, public transit, the Post Office, and Clairmont Shopping Center are within walking distance. Forest Park, Everett Mall, Boeing, Paine Field, and I-5 are described as minutes away. Both residences are leased through December 31, 2027.
Unit A faces Sperry Lane, while Unit B faces Woodlawn Avenue. Restaurants, shopping, medical services, public transit, the Post Office, and Clairmont Shopping Center are within walking distance. Forest Park, Everett Mall, Boeing, Paine Field, and I-5 are described as minutes away. Both residences are leased through December 31, 2027.
Key Highlights
- Two residences, each with 2 bedrooms, 1 full bath, and approximately 763 square feet
- Both units leased through December 31, 2027
- Shared 2‑car garage with one covered space per residence, plus additional parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,847
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$536,940
$536.9K
Cap Rate 7%
$383,529
$383.5K
Cap Rate 9%
$298,300
$298.3K
Market Conditions
NOI Build-Up for 1,622 SF
Gross rent
$40.9K $25.20/SF
− Vacancy
−$2.5K −$1.55/SF
EGI
$38.4K $23.65/SF
− OpEx
−$11.5K −$7.09/SF
NOI
$26.8K $16.55/SF
Area
Everett, WA
Vacancy
6.17%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$536,940
Cap Rate 7%
$383,529
Cap Rate 9%
$298,300
Alternative Uses
Best Use
Multifamily LT 5
$383.5K
$335.6K – $447.5K
NOI $26,847 @ 7.0% cap · market cap 4.47%
Second Best
Apartment 5plus
$343.2K
$300.3K – $400.4K
NOI $24,022 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$536.9K
$469.8K – $626.4K
NOI $37,583 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
717
Businesses Nearby
Explore this area
Business Placement
Demographics for 98203, WA
37,491
Population
14,848
Households
2.5
Avg Household Size
39
Median Age
34%
College-Educated
91%
High-School Grad
11.8 sq mi
ZIP Area
3,177
Density / Sq Mi
$101,505
Median Household Income
$55,176
Median Earnings
$1,761
Median Rent
$575,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased through December 31, 2027, with separate front and rear entrances for each unit.
Where is this duplex located?
The property is located at 5021 Sperry Lane Everett, WA.
What is the asking price?
The asking price for this property is $599,950.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms, 1 full bath, and approximately 763 square feet; Both units leased through December 31, 2027; Shared 2‑car garage with one covered space per residence, plus additional parking
