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3016 Everett Ave - Luna Apartments | 47 Unit Shovel Ready Site 0.36 Acres of Commercial Land Offered at $3,200,000 in Everett, WA 98201
Investment Highlights
- 47 unit shovel ready multifamily development opportunity
- City confirmed 2015 Energy Code eligibility
- Level 0.36 acre urban infill site in downtown Everett
- Building and public works permits approved pending final covenant processing
- Completed architectural, civil, structural, and landscape plan sets
- MU4 zoning with 12 year MFTE structure, buyer to verify
Executive Summary
Available materials include permit documentation, architectural plans, civil plans, structural plans, landscape plans, environmental reports, City materials, financial assumptions, rent assumptions, and supporting development information.
Building Permit B2101-035 and Public Works Permit PW2101-030 are approved pending final covenant processing. The City has confirmed 2015 Energy Code eligibility. The project is also structured around a 12 year MFTE exemption, buyer to verify final requirements.
Buyer to verify all permit status, covenant requirements, MFTE requirements, Opportunity Zone status, development feasibility, utility availability, construction costs, rents, operating assumptions, financing terms, and all other due diligence items.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per AC |
|---|---|---|
| Gross Rental Income |
$99,999
|
-
|
| Other Income |
$99,999
|
-
|
| Vacancy Loss |
$99,999
|
-
|
| Effective Gross Income |
$99,999
|
-
|
| Taxes |
$99,999
|
-
|
| Operating Expenses |
$99,999
|
-
|
| Total Expenses |
$99,999
|
-
|
| Net Operating Income |
$99,999
|
-
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | - |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | - |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | - |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | - |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | - |
Property Facts
| Price | $3,200,000 | Property Subtype | Commercial |
| Sale Type | Investment or Owner User | Proposed Use | Apartment Units |
| No. Lots | 1 | Total Lot Size | 0.36 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Zoning | MU4 - The purpose of the mixed-use (4 floors) zone is to provide for low-scale residential and commercial development in buildings up to four floors. | ||
| Price | $3,200,000 |
| Sale Type | Investment or Owner User |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.36 AC |
| Opportunity Zone |
Yes |
| Zoning | MU4 - The purpose of the mixed-use (4 floors) zone is to provide for low-scale residential and commercial development in buildings up to four floors. |
1 Lot Available
Lot
| Price | $3,200,000 | Lot Size | 0.36 AC |
| Price Per AC | $8,888,888.89 |
| Price | $3,200,000 |
| Price Per AC | $8,888,888.89 |
| Lot Size | 0.36 AC |
Level 0.36 acre urban infill development site in downtown Everett with MU4 zoning, frontage on Everett Ave, and access to transit, employment, services, I-5, Hwy 2, the Port of Everett, and Paine Field.
Description
Luna Apartments is a 47 unit shovel ready multifamily development opportunity located at 3012 and 3016 Everett Ave in downtown Everett, WA. The offering provides a buyer the opportunity to acquire a level 0.36 acre urban infill development site with MU4 zoning, a 12 year MFTE structure, completed plan sets, and substantial predevelopment work already completed. Building and public works permits are approved pending final covenant processing. The project has been advanced through the most time intensive portions of design and City review, including architectural, civil, structural, landscape, engineering, and permit coordination. Rather than starting with raw land or an early stage entitlement process, a buyer can step into a project that is positioned for near term execution. The planned unit mix includes 47 apartments designed for downtown Everett renter demand, with efficient micro, studio, one bedroom, one bedroom plus den, and two bedroom units. The development is positioned to serve workforce housing demand in a downtown location with access to employment, transit, services, I-5, Highway 2, the Port of Everett, Paine Field, Everett Station, Providence Regional Medical Center, and other North Puget Sound employment drivers.
Contact the Sale Advisor
3016 Everett Ave - Luna Apartments | 47 Unit Shovel Ready Site