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Listed by Paragon Real Estate Advisors
$4,495,000
Est. payment /mo
22,100 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 22,100 sqft
Price per Sqft $203
Subdivision Lynnwood
MLS Listing ID 2396882
Style 56 - 10+ Units
Year Built 1962
Annual Tax Amount $50,566
Lot Size 1.410 Acres
Property Sub-Type Multi Family
Property Description
The Chrimar Apartments is a unique value add multifamily investment opportunity in the thriving Lynnwood market. This 31-unit property offers investors immediate operational upside with the opportunity to increase rents and reposition the asset. The building consists of 31 units made up of 4 one bedroom/one bath units, 25 two bedroom/two bath units, 1 three bedroom/1 bath unit and 1 three bedroom/one and a half bath townhouse unit. 5 of the units have recently been turned over and are in the process of lease up. The property features a large common laundry room for the tenant's convenience. Additionally, there is a RUBS system currently in place for ownership reimbursement of utility costs.
Location
State WA
County Snohomish
Area 730 - Southwest Snohomish
Interior
Fireplace false
Exterior
Exterior Feature Brick
View Y/N No
Roof Type Built-Up
Building
Sewer Sewer Connected
New Construction No
Schools
School District Edmonds
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
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