Hard-to-find, leased duplex offering immediate income and strong investment potential! Gross annual income of $59,940 with taxes/insurance of $10,331 produces an NOI of $49,609 and approx. 4.9% CAP at $999K. Current rents are $2,400 & $2,595/mo, with PM-projected market rents of $2,895/unit, offering potential for approx. 5.8% CAP at market rents. Tenants pay all utilities. Each spacious unit features 3 beds, 2.5 baths, bonus room, large dining area, gas fireplace, gas cooking/heat, 2-car garage PLUS abundant additional parking and enormous, level, fully fenced private yards-a standout feature for tenants. HardiePlank siding and fresh exterior paint. Unit A offers bamboo flooring & SS appliances; Unit B features LVP, white appliances & new cooktop. Located in the highly desirable Lake Stevens School District, walking distance to the high school and convenient to Hwy 9. Generous floorplans provide the space and functionality renters seek, while individual garages, extensive off-street parking and expansive fenced outdoor spaces help set this property apart from typical multifamily offerings. Established tenancy provides income from the start, while projected market rents offer additional upside for the future. An appealing combination of location, livability, rental demand and income potential makes this a compelling opportunity to acquire an established investment property in a sought-after Lake Stevens community.
| MLS # | 2572714 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 2010 |
| Days On Site | 15 |
| Listing Provided By | Real Broker LLC | Mike Novak |
| SQ Feet | 3,012 |
|---|---|
| Garage | 4 |
| Story(s) | 2 |
| Units | 2 |
| Zoning | Multi-Family |
| Acreage | 0.26 |
| Property View | Yes |
| Property | 8459 |
|---|
| State | WA |
|---|---|
| County | Snohomish |
| City | Lake Stevens |
| Zip Code | 98258 |
| Area | 760 Northeast Snohomish? |
| Community Name | Lake Stevens |
| School District | Lake Stevens Snr Hig |
| Elementary School | Highland Elem |
| High School | Lake Stevens Snr Hig |
| Listing VS Median (in Lake Stevens) | |
Price: $999,900 low | high Med: $700,000 sqft: 3,012 low | high Med: 2,322 $ / sqft: $332 low | high Med: $305 On site: 15 low | high Med: 30.5 | |
| State | WA |
|---|---|
| County | Snohomish |
| City | Lake Stevens |
| Zip Code | 98258 |
| Area | 760 Northeast Snohomish? |
| Community Name | Lake Stevens |
| School District | Lake Stevens Snr Hig |
| Elementary School | Highland Elem |
| High School | Lake Stevens Snr Hig |
| Listing VS Median (in Lake Stevens) | |
Price: $999,900 low | high Med: $700,000 sqft: 3,012 low | high Med: 2,322 $ / sqft: $332 low | high Med: $305 On site: 15 low | high Med: 30.5 | |