29-Unit Multifamily Community in
0 700 W Maple St Monroe, WA 98272
For Sale
$8,100,000
Pending
Well-maintained 29-unit apartment community with modern upgrades and strong performance.
Property Size26,400 SF
Days on Market328
Property Features for 0 700 W Maple St
General Information
Standard status
Pending
Size
26,400 SF
Property subtype
Commercial
Building Details
Year Built
1982
Listing Agency:
NORTHMARQ MULTIFAMILY LLC
Listed By:
TYLER SMITH · License #78400
Source:
Corcoran
Added: Sep 5, 2025
Changed: Jul 6
Last Checked: Jul 23 at 9:35AM
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 NORTHMARQ MULTIFAMILY LLC
Investment Insights
Based on property information with market context.
Parkside Apartments is a 29-unit multifamily community located in Monroe, Washington. The property features a mix of one-, two-, and three-bedroom floorplans, averaging 908 square feet. Each residence includes in-unit washers and dryers. Many units have been upgraded with stainless steel appliances, granite countertops, luxury vinyl plank flooring, and other modern finishes. The property is situated on an 89,298-square-foot parcel, providing residents with a lower-density living environment and ample on-site parking. The property has been well maintained and is currently achieving strong operating performance, with average rents of $2,007 and positive trends.
Key Highlights
- 29‑unit multifamily community with a mix of one-, two-, and three‑bedroom floorplans.
- Upgraded units feature STAINLESS STEEL APPLIANCES, GRANITE COUNTERTOPS, and LUXURY VINYL PLANK FLOORING.
- IN‑UNIT WASHERS AND DRYERS in every residence.
Financial Insights For Apartment 5plus
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 | $776.2k | $29.40 |
| − Vacancy | −$58.2k | −$2.21 |
| EGI | $717.9k | $27.20 |
| − OpEx | −$323.1k | −$12.24 |
| NOI | $394.9k | $14.96 |
26,400 SF · lease $29.40/SF/yr · vacancy 7.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$5.64M
$4.94M – $6.58M
NOI $394,871 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.36M
$6.44M – $8.59M
NOI $515,375 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 29-unit apartment community with modern upgrades and strong performance.
Where is this apartment building located?
The property is located at 0 700 W Maple St Monroe, WA.
What is the asking price?
The asking price for this property is $8,100,000.
What are key features of this property?
This property features: 29‑unit multifamily community with a mix of one-, two-, and three‑bedroom floorplans.; Upgraded units feature STAINLESS STEEL APPLIANCES, GRANITE COUNTERTOPS, and LUXURY VINYL PLANK FLOORING.; IN‑UNIT WASHERS AND DRYERS in every residence.
