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VILLORBA 222 N 15th St 33 Unit Apartment Building $5,818,000 ($176,303/Unit) 6.01% Cap Rate Mount Vernon, WA 98273
Investment Highlights
- Nice layout with good storage
- Close to schools, medical, retail and restaurants
- Prime investment opportunity!
- Onthe Mount Vernon Hill out of the flood plain
- Close proximity to I-5, Division, College Way
Executive Summary
Well taken care of 33 unit apartment complex located on the hill in Mount Vernon. Most units have been remolded during tenant change over.
Prime investment opportunity!
Rents are under market providing a good upside for a buyer. Very low vacancy.
Complex is close to schools, medical, retail and restaurants. Within close proximity to I-5, Division St., College Way and Riverside Drive.
Walk through to be scheduled upon a mutually accepted offer.
Prime investment opportunity!
Rents are under market providing a good upside for a buyer. Very low vacancy.
Complex is close to schools, medical, retail and restaurants. Within close proximity to I-5, Division St., College Way and Riverside Drive.
Walk through to be scheduled upon a mutually accepted offer.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
| Price | $5,818,000 | Apartment Style | Garden |
| Price Per Unit | $176,303 | Building Class | C |
| Sale Type | Investment | Lot Size | 2.30 AC |
| Cap Rate | 6.01% | Building Size | 15,548 SF |
| Gross Rent Multiplier | 12.6 | Average Occupancy | 95% |
| No. Units | 33 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1977/2020 |
| Property Subtype | Apartment | ||
| Zoning | MF | ||
| Price | $5,818,000 |
| Price Per Unit | $176,303 |
| Sale Type | Investment |
| Cap Rate | 6.01% |
| Gross Rent Multiplier | 12.6 |
| No. Units | 33 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.30 AC |
| Building Size | 15,548 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built/Renovated | 1977/2020 |
| Zoning | MF |
Amenities
Unit Amenities
- Kitchen
Site Amenities
- Courtyard
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 13 | - | - |
| 2+2 | 20 | - | - |
1 1
Moderately walkable
60/100
Very drivable
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $3,406,500 | |
| Land Assessment | $1,322,900 | Total Assessment | $4,729,400 |
Property Taxes
Parcel Numbers
Land Assessment
$1,322,900
Improvements Assessment
$3,406,500
Total Assessment
$4,729,400
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VILLORBA | 222 N 15th St
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