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Horizon Park Apartments 7420-7428 208th St SW 36 Unit Apartment Building $7,500,000 ($208,333/Unit) 6.54% Cap Rate Edmonds, WA 98026
INVESTMENT HIGHLIGHTS
- Stabilized Opportunity: In-place 6.13% cap rate
- Additional Income Potential: 52% Utility reimbursement in-place
- Favorable Unit Mix: Three-quarters of units have two bedrooms
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| 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 - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| 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 | $7,500,000 | Building Class | C |
| Price Per Unit | $208,333 | Lot Size | 1.29 AC |
| Sale Type | Investment | Building Size | 24,897 SF |
| Cap Rate | 6.54% | Average Occupancy | 100% |
| No. Units | 36 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1960/1990 |
| Property Subtype | Apartment | Parking Ratio | 1.39/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RM-15, Edmonds | ||
| Price | $7,500,000 |
| Price Per Unit | $208,333 |
| Sale Type | Investment |
| Cap Rate | 6.54% |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.29 AC |
| Building Size | 24,897 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1960/1990 |
| Parking Ratio | 1.39/1,000 SF |
| Zoning | RM-15, Edmonds |
AMENITIES
UNIT AMENITIES
- Balcony
- Dishwasher
- Disposal
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
SITE AMENITIES
- Laundry Facilities
- Playground
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 9 | $1,608 | 502 - 720 |
| 2+1 | 27 | $1,748 | 710 - 875 |
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PROPERTY TAXES
| Parcel Number | 003804-000-003-00 | Improvements Assessment | $5,690,400 (2025) |
| Land Assessment | $1,869,600 (2025) | Total Assessment | $7,560,000 (2025) |
PROPERTY TAXES
Parcel Number
003804-000-003-00
Land Assessment
$1,869,600 (2025)
Improvements Assessment
$5,690,400 (2025)
Total Assessment
$7,560,000 (2025)
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Horizon Park Apartments | 7420-7428 208th St SW
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