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    165 Cypress Ave Snohomish, WA 98290

    For Sale
    Contact for pricing

    9 Units, 100% Occupied, Redevelopment Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 0.91-acre mobile home park in downtown Snohomish, WA, presents a compelling investment opportunity. The property, located at 165 Cypress Ave, boasts nine pads, all currently occupied (100% occupancy as of November 1, 2024). Built in 1968, the park features eight park-owned and one tenant-owned single-wide home. The property is served by city water and sewer. Its prime location offers easy access to local amenities including restaurants, businesses, parks, grocery stores, drug stores, schools, and public transit. Significant rental upside potential exists through market rent increases and the addition of ancillary income streams, such as laundry facilities. Furthermore, there's an opportunity to implement utility expense recapture. The Pilchuck Center zoning allows for substantial redevelopment potential, with the possibility of constructing a multi-story building (up to five stories with the purchase of Transfer of Development Rights credits). This property is ideal for investors seeking a value-add opportunity with strong potential for both short-term income generation and long-term capital appreciation. The property's APN is 00575900100100.

    Property Features for 165 Cypress Ave

    General Information

    Property type
    Multifamily properties
    Lot Size
    39,640 SF

    Building Details

    Year Built
    1968
    Units
    9

    HighLights

    • Desirable downtown Snohomish location near amenities.
    • Proximity to local parks and attractions.
    • Walking distance to grocery, drug stores, schools, and transit.
    • Significant rental upside and potential ancillary income (e.g., laundry).
    • Opportunity to recapture utility expenses.
    • 0.91‑acre site with redevelopment potential; up to 5 stories possible with TDR credits.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Snohomish
    County
    Snohomish
    State
    Washington
    Longitude
    -122.0846918
    Latitude
    47.9116833

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    FAQs

    What type of property is this?
    Multifamily property - 9 Units, 100% Occupied, Redevelopment Potential
    Where is this multifamily property located?
    The property is located at 165 Cypress Ave Snohomish, WA.
    What are key features of this property?
    This property features: Desirable downtown Snohomish location near amenities.; Proximity to local parks and attractions.; Walking distance to grocery, drug stores, schools, and transit.
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    165 Cypress Ave Snohomish, WA 98290
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    165 Cypress Ave Snohomish, WA 98290
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