3116 18th St 4 Unit Apartment Building $1,350,000 ($337,500/Unit) 6.89% Cap Rate Everett, WA 98201

Constructed in 1979, this four-unit multifamily property represents a core investment opportunity in Everett, WA, offered at $1,350,000. The asset provides investors with a
stabilized, income-producing property from day one, delivering an in-place capitalization rate of 6.89% based on a current Net Operating Income of $92,981. Situated on a 6,098 square foot lot, the building contains 3,400 net rentable square feet and generates immediate cash flow, while preserving the option to capture future upside through strategic market rent adjustments as the surrounding market continues to grow.
The property features a highly efficient and uniform unit mix consisting entirely of 2-bedroom/1-bathroom floor plans, each measuring 850 square feet. This standardized layout
appeals to a wide range of renters and streamlines ongoing management and maintenance. All units are equipped with forced air heating systems and benefit from on-site laundry facilities. The building's infrastructure includes durable copper and ABS plumbing systems, General Electric electrical panels, and a four-year-old roof, significantly reducing near-term capital expenditure risk and ensuring low ongoing maintenance for the incoming investor. Site-level amenities further strengthen the property’s appeal, highlighted by an exceptionally high parking ratio of 2.5 spaces per unit. The site offers 10 total parking spots, providing significant convenience and tenant retention value. As a stabilized asset with well-maintained infrastructure and uniform layouts, this property is ideally suited for investors seeking a reliable, income-producing Core asset with multiple avenues for value creation—hold as a steady cash-flowing rental, gradually mark rents to market, or execute light renovations over time to further maximize returns.