Renovated Apartment Building with In-Unit
7234 47TH Marysville, WA 98270
7234 47TH, Marysville, WA, 98270
$4,850,000
For Sale
$4,850,000
Renovated multifamily property with in-unit washers and dryers in every unit and ample on-site parking.
Property Size16,240 SF
Price / SF$298.65
Days on Market11
Property Features for 7234 47TH
General Information
- Standard status
- Active
- Size
- 16,240 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1967
Listing agency
Paragon Real Estate Advisors
Listed by
Tanner Fogle
(360) 568-3105
Source
Century21northhomes
Added: Jul 12 Updated: Jul 21 at 8:10PM Checked: Jul 21 at 8:10PM
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
Investment Insights
Based on property information with market context.
The Cove Apartments is a multifamily property featuring renovated apartment homes and in-unit washers and dryers in every unit. The property has also received fresh exterior paint and updated signage, with ample on-site parking for residents.
The building is located near major roadways, including Interstate 5, State Route 529, and State Route 9, providing convenient access to employment centers throughout Snohomish County and the greater Seattle area.
The asset is currently producing in-place cash flow and is described as having undergone significant interior and exterior upgrades aimed at supporting ongoing tenant demand.
The building is located near major roadways, including Interstate 5, State Route 529, and State Route 9, providing convenient access to employment centers throughout Snohomish County and the greater Seattle area.
The asset is currently producing in-place cash flow and is described as having undergone significant interior and exterior upgrades aimed at supporting ongoing tenant demand.
Key Highlights
- Renovated multifamily property (Year built 1967) with in‑unit washers and dryers in every unit
- 6.91% in‑place cap rate currently operating
- Recent capital improvements include renovated apartment homes and fresh exterior paint
Local 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 | $477.5k | $29.40 |
| − Vacancy | −$35.8k | −$2.21 |
| EGI | $441.6k | $27.20 |
| − OpEx | −$198.7k | −$12.24 |
| NOI | $242.9k | $14.96 |
16,240 SF · lease $29.40/SF/yr · vacancy 7.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.47M
$3.04M – $4.05M
NOI $242,906 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.53M
$3.96M – $5.28M
NOI $317,034 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Renovated multifamily property with in-unit washers and dryers in every unit and ample on-site parking.
Where is this apartment building located?
The property is located at 7234 47TH Marysville, WA.
What is the asking price?
The asking price for this property is $4,850,000.
What are key features of this property?
This property features: Renovated multifamily property (Year built 1967) with in‑unit washers and dryers in every unit; 6.91% in‑place cap rate currently operating; Recent capital improvements include renovated apartment homes and fresh exterior paint
