Renovated Apartment
7234 47th Ave NE, Marysville, WA 98270
For Sale
$4,575,000
Renovated apartment homes feature in-unit laundry and on-site parking.
Property Size16,240 SF
Price / SF$281.71
Days on Market115
Property Features for 7234 47th Ave NE
General Information
Standard status
Size
Property subtype
Additional Details
Cap Rate
Highway Access
Amenities
in-unit washers and dryers
Building Details
Year Built
Listing Agency:
Paragon Real Estate Advisors
Listed By:
Tanner Fogle
Source:
Viewhomesinpugetsound
Added: Jul 16
Changed: Nov 6
Last Checked: Nov 6 at 9:22AM
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 Paragon Real Estate Advisors
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Investment Insights
Based on property information with market context.
Built in 1967, this apartment property includes renovated apartment homes with a washer and dryer in every unit. Recent improvements also include fresh exterior paint, updated signage, and on-site parking, supporting a practical, low-maintenance physical profile.
The property is located at 7234 47th Ave NE in Marysville, Washington, with proximity to Interstate 5, State Route 529, and State Route 9. These routes connect the property with employment centers across Snohomish County and the greater Seattle area. The asset is currently operating at a 6.91% in-place cap rate.
The property is located at 7234 47th Ave NE in Marysville, Washington, with proximity to Interstate 5, State Route 529, and State Route 9. These routes connect the property with employment centers across Snohomish County and the greater Seattle area. The asset is currently operating at a 6.91% in-place cap rate.
Key Highlights
- 6.91% in‑place cap rate
- 16,240 property size
- Washer and dryer in every unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$242,906
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,858,120
$4.9M
Cap Rate 7%
$3,470,086
$3.5M
Cap Rate 9%
$2,698,956
$2.7M
Market Conditions
NOI Build-Up for 16,240 SF
Gross rent
$477.5K $29.40/SF
− Vacancy
−$35.8K −$2.21/SF
EGI
$441.6K $27.20/SF
− OpEx
−$198.7K −$12.24/SF
NOI
$242.9K $14.96/SF
Area
Snohomish County, WA
Vacancy
7.50%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,858,120
Cap Rate 7%
$3,470,086
Cap Rate 9%
$2,698,956
Alternative Uses
Best Use
Apartment 5plus
$3.47M
$3.04M – $4.05M
NOI $242,906 @ 7.0% cap · market cap 5.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.53M
$3.96M – $5.28M
NOI $317,034 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,101
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
$540,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Snohomish County, WA
Properties on Market for Apartment buildings in Snohomish County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated apartment homes feature in-unit laundry and on-site parking.
Where is this apartment building located?
The property is located at 7234 47th Ave NE Marysville, WA.
What is the asking price?
The asking price for this property is $4,575,000.
What are key features of this property?
This property features: 6.91% in‑place cap rate; 16,240 property size; Washer and dryer in every unit
