4-Unit Apartment
New
For Sale
$980,800
804 124th Street SW, Everett, WA 98204
Four mirrored residences include in-unit laundry and dedicated parking, with a mix of tenant-occupied and vacant units.
Property Size3,840 SF
Lot Size0.30 Acres
Price / SF$255.42
Days on Market1
Property Features for 804 124th Street SW
General Information
Standard status
Active
Size
3,840 SF
Total Parking Spaces
8
Lot size
0.30 Acres
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/1.5BA
Multifamily Units
4
Parking per Unit
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1979
Buildings
1
Listing Agency:
CENTURY 21 Real Estate Center
Listed By:
Harjinder Singh · License #NWM148808
Source:
Communityrealestategroup
Added: Oct 11
Last Checked: Oct 11 at 2:34PM
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 CENTURY 21 Real Estate Center
Investment Insights
Based on property information with market context.
Built in 1979, this quadplex contains four mirror-image residences, each with two bedrooms, one and a half baths, and in-unit laundry. The building totals 3,840 square feet. Unit A is vacant and has a new kitchen, updated bathrooms, new flooring, and fresh paint. Units B and C received updates a few years ago, while Unit D has partial recent improvements. The roof was replaced within the last five years.
The property is at 804 124th Street SW in Everett, near I-5, Highway 99, Paine Field, Boeing, dining, and retail. Each residence has two dedicated parking spaces, for eight spaces total. An HOA handles grounds maintenance and garbage pickup.
The property is at 804 124th Street SW in Everett, near I-5, Highway 99, Paine Field, Boeing, dining, and retail. Each residence has two dedicated parking spaces, for eight spaces total. An HOA handles grounds maintenance and garbage pickup.
Key Highlights
- Four residences, each with 2 bedrooms and 1.5 baths; building totals 3,840 square feet
- 13,000+ sq. ft. lot with eight dedicated parking spaces, two per unit
- Unit A is vacant and features a new kitchen, updated bathrooms, flooring, and interior paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,558
Cap Rate
6.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,271,160
$1.3M
Cap Rate 7%
$907,971
$908.0K
Cap Rate 9%
$706,200
$706.2K
Market Conditions
NOI Build-Up for 3,840 SF
Gross rent
$96.8K $25.20/SF
− Vacancy
−$6.0K −$1.55/SF
EGI
$90.8K $23.65/SF
− OpEx
−$27.2K −$7.09/SF
NOI
$63.6K $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%
$1,271,160
Cap Rate 7%
$907,971
Cap Rate 9%
$706,200
Alternative Uses
Best Use
Multifamily LT 5
$908.0K
$794.5K – $1.06M
NOI $63,558 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$812.5K
$710.9K – $947.9K
NOI $56,872 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,975 @ 7.0% cap · market cap 9.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
786
Businesses Nearby
Explore this area
Business Placement
Demographics for 98204, WA
44,810
Population
18,914
Households
2.4
Avg Household Size
34
Median Age
22%
College-Educated
87%
High-School Grad
7.2 sq mi
ZIP Area
6,224
Density / Sq Mi
$66,592
Median Household Income
$44,349
Median Earnings
$1,732
Median Rent
$386,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four mirrored residences include in-unit laundry and dedicated parking, with a mix of tenant-occupied and vacant units.
Where is this quadplex located?
The property is located at 804 124th Street SW Everett, WA.
What is the asking price?
The asking price for this property is $980,800.
What are key features of this property?
This property features: Four residences, each with 2 bedrooms and 1.5 baths; building totals 3,840 square feet; 13,000+ sq. ft. lot with eight dedicated parking spaces, two per unit; Unit A is vacant and features a new kitchen, updated bathrooms, flooring, and interior paint
