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4410 176th St SW
Lynnwood, WA 98037
The Cedars · Multifamily Property For Sale
·
17 Units
Investment Highlights
- Rents in submarket climbing faster than ever on record; effective rent remains 5.9% above the five-year average at $1,962, up 4.9 YoY
- Capitalize on area demand and complete renovation scope prior to anticipated deliveries coinciding with light rail expansion
- 7 units have been lightly upgraded, but further cosmetic improvements to units recommended to achieve projected market rents
- Primed for repositioning with in-place rents 9% below market rate; further premiums up to $200 post renovation achievable
- Fully leased with historically low vacancy rate
- Amenities include common laundry, ample parking, security system, and large workshop
Property Facts
| No. Units | 17 | Building Size | 13,728 SF |
| Property Type | Multifamily | Average Occupancy | 94% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1967 |
| Building Class | C | Parking Ratio | 0.66/1,000 SF |
| Lot Size | 0.70 AC | ||
| Zoning | RML, Lynnwood - Multiple Residential Low Density | ||
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.70 AC |
| Building Size | 13,728 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built | 1967 |
| Parking Ratio | 0.66/1,000 SF |
| Zoning | RML, Lynnwood - Multiple Residential Low Density |
Amenities
Unit Amenities
- Heating
- Kitchen
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $1,550 | 590 |
| 2+1 | 12 | $1,675 | 770 |
| Studios | 1 | $1,400 | 510 |
Property Taxes
| Parcel Number | 003727-010-001-04 | Improvements Assessment | $2,492,700 |
| Land Assessment | $1,096,800 | Total Assessment | $3,589,500 |
Property Taxes
Parcel Number
003727-010-001-04
Land Assessment
$1,096,800
Improvements Assessment
$2,492,700
Total Assessment
$3,589,500
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