1901 2Nd St Mount Vernon, WA 98273

This Mount Vernon, WA, mixed-use property, located at 1901 S 2nd St, 98273, presents a compelling investment opportunity. The 36,690 square foot property, built in 1944, consists of two buildings situated on a 0.80-acre lot zoned C-2. Currently operating at 100% occupancy with two tenants, the property generates a pro-forma NOI of $15,000, representing a 1.90% pro-forma cap rate. The asking price is $790,000 ($21.53/sq ft). The property features a home and a 50x44 shop, both currently leased. The home leases for $1,800 per month and the shop for $800 per month, under a modified lease with a remaining term of approximately 0.4 years (expiring March 31, 2025). The leases commenced April 1, 2023, and are for a two-year term. The property offers convenient access via West Taylor or West Blackburn streets, and benefits from its location in an opportunity zone with easy access to I-5 and downtown Mount Vernon. This property is ideal for investors seeking a dual-income stream with significant redevelopment potential. The property's C-2 zoning allows for a variety of uses.