8806 3rd Avenue SE, Everett, WA 98208
- $1,450,000
- 5,304
- SqFt
Listing Broker: Opal Blue Real Estate, LLC; Grant Fosheim; 425-359-7259; Grant@OpalBlueRE.com
- List Price
- $1,450,000
- Status
- ACTIVE
- MLS#
- 2583094
- Days on Market
- 0
- Style
- 55 - 5-9 Units
- Building Condition
- Average
- Finished SqFt
- 5,304
- Area Total SqFt
- 5304
- Annual Tax Ammount
- 11202
- Internet Provider
- N/A
- Lot Size (sq ft)
- 9,583
- Sewer
- Sewer Connected
Property Description
Well-managed, meticulously maintained 6-unit apartment building in Everett's Cascade View neighborhood — a truly turnkey investment with zero deferred maintenance, zero vacancies, and zero delinquencies. Five of the six units have been renovated (2021–2024) with new double-pane vinyl windows, LVP flooring, updated kitchens and baths, alongside a new roof (2023), fresh exterior paint/sealer, newer decks and updated common areas (2025) including new carpet, lighting, and hardware, leaving a new owner nothing to do but collect rent from day one. Unit mix of (4) 2bd/1ba and (2) 1bd/1ba units totaling 5,050+ SF, with a private storage locker for every unit. Eleven off-street parking spaces and on-site app-based laundry round out the amenities. 5.62% current cap / 6.06% market cap, with one remaining unrenovated unit offering modest rent-growth upside — a low-maintenance, professionally run asset that fits well as a standalone hold or as an easy addition to a growing multifamily portfolio.
Additional Information
- List Date
- 2026-09-22 18:59:15
- Community
- South Everett
- Net Operating Income
- $81,502
- Gross Adjusted Income
- $119,776
- Gross Scheduled Income
- $122,220
- Total Monthly Income
- $10,185
- Insurance Expenses
- $2,732
- Water/Sewer/Garbage Expenses
- $7,009
- Gross Rent Multiplier
- 11.86
- Total Expenses
- $38,274
- Cap Rate
- 5.62
- Vacancy Rate
- 2
- Total Number of Units
- 6
- Unit Name
- 8806
- Potential Terms
- Cash, Conventional
- Year Built
- 1968
- View
- Territorial
- Roof
- Composition
- Site Features
- Deck, Fenced-Partially, Patio
- Electric Expenses
- 1163
- Other Expenses
- 16168
- Energy Source
- Electric
- School District
- Everett
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Buyer To Verify
- Total Monthly Income
- $10,185
- Gross Scheduled Income
- $122,220
- Vacancy Rate
- 2
- Gross Adjusted Income
- $119,776
- Tax Year
- 2026
- Insurance Expense
- $2,732
- W/S/G Expenses
- $7,009
- Total Expenses
- $38,274
- Net Operating Income
- $81,502
- Gross Rent Multiplier
- 11.86
- Cap Rate
- 5.62
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.