4230 Hoyt Avenue, Everett, WA 98203
- $3,975,000
- 14,644
- SqFt
Listing Broker: Opal Blue Real Estate, LLC; Grant Fosheim; 425-359-7259; Grant@OpalBlueRE.com
- List Price
- $3,975,000
- Status
- ACTIVE
- MLS#
- 2583030
- Days on Market
- 0
- Style
- 56 - 10+ Units
- Finished SqFt
- 14,644
- Area Total SqFt
- 14644
- Annual Tax Ammount
- 25265
- Internet Provider
- N/A
- Lot Size (sq ft)
- 6,534
- Sewer
- Sewer Connected
Property Description
Well-maintained, well-managed 16-unit apartment building available in Everett's Cascade View neighborhood, reflecting disciplined, proactive ownership. 12 of 16 units have been renovated from tasteful refreshes (LVP flooring, updated bathrooms, modern fixtures) to full remodels with new kitchens, bathrooms and in-unit washer/dryer. Building-wide systems have been kept current as well, with a new roof, new exterior paint, and new double-pane vinyl windows all completed in 2024, a 2024 common area refresh (fresh paint, carpet, lighting), and a remote-access garage gate replaced in 2022. Fully leased with staggered lease terms and zero delinquencies, shows active management that results in value for the new owner. Unit mix of (8) 1bd/1ba at 651 SF and (8) 2bd/1ba at 882 SF. Amenities built for tenant retention: 18 secure, gated garage parking stalls, a shared app-based laundry room, and a private storage locker for every unit — a meaningful differentiator in this submarket. For a new owner, the building hands off cleanly, with no deferred maintenance backlog and a defined, low-risk runway to continue the existing renovation program on the remaining units or to operate as-is. Located in Central Everett's Glacier View submarket, minutes from Boeing, Paine Field, and Providence Regional Medical Center. A rare opportunity to acquire a renovated, stabilized asset with genuine mark-to-market upside in one of Snohomish County's most active employment corridors.
Additional Information
- List Date
- 2026-09-22 18:43:15
- Community
- Everett
- Net Operating Income
- $221,993
- Gross Adjusted Income
- $318,731
- Gross Scheduled Income
- $325,236
- Total Monthly Income
- $27,103
- Insurance Expenses
- $7,327
- Water/Sewer/Garbage Expenses
- $12,219
- Gross Rent Multiplier
- 12.22
- Total Expenses
- $96,737
- Cap Rate
- 5.58
- Vacancy Rate
- 2
- Total Number of Units
- 16
- Unit Name
- 4230
- Potential Terms
- Cash, Conventional
- Year Built
- 1968
- View
- City
- Roof
- Composition, Flat, Metal
- Site Features
- Fenced-Partially
- Electric Expenses
- 2116
- Other Expenses
- 49810
- Energy Source
- Electric
- School District
- Everett
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Buyer To Verify
- Total Monthly Income
- $27,103
- Gross Scheduled Income
- $325,236
- Vacancy Rate
- 2
- Gross Adjusted Income
- $318,731
- Tax Year
- 2026
- Insurance Expense
- $7,327
- W/S/G Expenses
- $12,219
- Total Expenses
- $96,737
- Net Operating Income
- $221,993
- Gross Rent Multiplier
- 12.22
- Cap Rate
- 5.58
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.