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7420 208Th St SW Edmonds, WA 98026

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For Sale
$7,500,000

36-unit apartment community in Edmonds' College Place neighborhood.

Building Details

Year built
1962

Source: MARCUS & MILLICHAP, INC. Agent RYAN DINIUS

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Edmonds Multifamily Investment Opportunity

Horizon Park is a 36-unit apartment community located in the College Place neighborhood of Edmonds. Constructed in two phases, the property includes 24 units completed in 1960, with an additional 12 units added in 1990. The community is situated on a ±1.29 acre lot directly across the street from College Park Elementary and Middle Schools. These schools are scheduled for a complete renovation beginning next summer, funded by $210 million from the Edmonds School District’s $594 million bond measure approved last year. The property features a mix of unit sizes, with 27 two-bedroom, one-bathroom units averaging ±777 square feet, and 9 one-bedroom, one-bathroom units averaging ±526 square feet. Current rents average $2.34 per square foot. Opportunities exist for further revenue enhancement through reducing loss-to-lease, implementing storage and parking fees, increasing utility reimbursements, and light upgrades.
Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon Food Market Grocery Store

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Edmonds
County
Snohomish
State
Washington
Longitude
-122.333317
Latitude
47.810504

FAQs

What type of property is this?
Apartment building - 36-unit apartment community in Edmonds' College Place neighborhood.
Where is this apartment building located?
The property is located at 7420 208Th St SW Edmonds, WA.
What is the asking price?
The asking price for this property is $7,500,000.
What are key features of this property?
This property features: - 36-unit apartment community in Edmonds' College Place neighborhood.; - Located directly across from College Park Elementary and Middle Schools undergoing a $210 million renovation.; - Attractive mix of 27 two-bedroom/one-bathroom units and 9 one-bedroom/one-bathroom units.
More about this property
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