Bought with Champions Real Estate
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95 Quinn AVE Marysville, WA 98270
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Key Details
Sold Price $1,330,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Marysville
MLS Listing ID 2213608
Sold Date 04/30/24
Style 54 - 4-Plex
Year Built 1979
Annual Tax Amount $9,810
Lot Size 10,454 Sqft
Property Sub-Type Multi-Family
Property Description
This is a unique opportunity for an investor to acquire a townhome-style fourplex just steps away from Downtown Marysville with significant rental upside. Each unit consists of 3 bedrooms, 1.75-2 baths, 1,200 SF of living space, washers & dryers, vaulted ceilings, a fireplace, a fenced-backyard space, and ample parking. This modern amenity package contributes to the property's history of low vacancy. The current in-place rents are $1,705 per unit, with approx. $105/mo per unit being recaptured through utility bill-back. A new buyer can achieve a 28% rental increase on turnover with little to no major renovations by simply bringing current in-place rents to market rate, resulting in a 6.4% stabilized cap rate.
Location
State WA
County Snohomish
Area 770 - Northwest Snohomish
Interior
Fireplace false
Exterior
Exterior Feature Wood Products
View Y/N No
Roof Type Composition
Building
Sewer Sewer Connected
New Construction No
Schools
School District Marysville
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
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"Three Trees" icon indicates a listing provided courtesy of NWMLS.