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403 N 21st St 14 Unit Apartment Building $4,350,000 ($310,714/Unit) 5.03% Cap Rate Mount Vernon, WA 98273
INVESTMENT HIGHLIGHTS
- New construction and existing 4 Plex
- Open Floor Plan
- Lots of Natural Light
- Heating and Cooling
- Close Proximity to medical, schools, retail and restaurants
- Garages with to EV Stations
EXECUTIVE SUMMARY
10 units are comprised of 2 Studios/1 Bath | 3 - 1 Bed/2 Baths | 5 - 2 Bed/2 Baths
All units have new appliances and are plumbed for washer and dryer.
The adjacent 4 plex has a strong rental history and all are 2 bed/1.5 Baths with a shared laundry facility.
Close proximity to medical, schools, retail, restaurants, College Way, Division St. and I-5.
All units have new appliances and are plumbed for washer and dryer.
The adjacent 4 plex has a strong rental history and all are 2 bed/1.5 Baths with a shared laundry facility.
Close proximity to medical, schools, retail, restaurants, College Way, Division St. and I-5.
FINANCIAL SUMMARY (PRO FORMA - 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 (PRO FORMA - 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
| Price | $4,350,000 | Building Class | B |
| Price Per Unit | $310,714 | Lot Size | 0.48 AC |
| Sale Type | Investment | Building Size | 16,550 SF |
| Cap Rate | 5.03% | Average Occupancy | 30% |
| No. Units | 14 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1977/2025 |
| Property Subtype | Apartment | Parking Ratio | 0.36/1,000 SF |
| Zoning | R-3 - R-3 Zone with increased density allowance.. | ||
| Price | $4,350,000 |
| Price Per Unit | $310,714 |
| Sale Type | Investment |
| Cap Rate | 5.03% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.48 AC |
| Building Size | 16,550 SF |
| Average Occupancy | 30% |
| No. Stories | 3 |
| Year Built/Renovated | 1977/2025 |
| Parking Ratio | 0.36/1,000 SF |
| Zoning | R-3 - R-3 Zone with increased density allowance.. |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Washer/Dryer
- Eat-in Kitchen
- Granite Countertops
- Refrigerator
- Range
- Deck
- Double Pane Windows
SITE AMENITIES
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1.5 | 4 | $1,800 | 952 |
| Studios | 2 | $2,000 | - |
| 1+2 | 3 | $2,000 | - |
| 2+2 | 5 | $2,400 | - |
1 1
PROPERTY TAXES
| Parcel Number | P26917 | Improvements Assessment | $2,199,200 |
| Land Assessment | $312,000 | Total Assessment | $2,511,200 |
PROPERTY TAXES
Parcel Number
P26917
Land Assessment
$312,000
Improvements Assessment
$2,199,200
Total Assessment
$2,511,200
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403 N 21st St
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