Bought with Westlake Associates, Inc.
$13,800,000
$14,500,000
4.8%For more information regarding the value of a property, please contact us for a free consultation.
7221 196th ST SW Lynnwood, WA 98036
51,311 SqFt
Key Details
Sold Price $13,800,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 51,311 sqft
Price per Sqft $268
Subdivision Lynnwood
MLS Listing ID 1759818
Sold Date 09/02/21
Style 56 - 10+ Units
Year Built 1991
Annual Tax Amount $110,851
Lot Size 2.770 Acres
Property Sub-Type Multi-Family
Property Description
The Edgewood North apartments are a rare opportunity to acquire a solid real estate investment with significant upside potential. All 46 units are presently rented. Convenient location for north, south, and east commutes and very close to Edmonds CC. Buildings A - D were built in 1991 and are predominantly 2 bed/2 bath flats. Buildings E - G were built in 1998 and are slightly larger townhome-style units. In 2020, several units were upgraded with paint, LVP, carpet, white cabinets, stainless appliances, and trim for an instant 15-20% increase in rent. This creates a PROVEN opportunity for upgrades, to substantially increase the value of the investment. 2011 roofs, 2012 decks, 2020 exterior staircases/railings - hard parts are already done!
Location
State WA
County Snohomish
Area 730 - Southwest Snohomish
Interior
Interior Features Ceramic Tile, Wall to Wall Carpet
Flooring Ceramic Tile, Vinyl, Vinyl Plank, Carpet
Fireplace false
Exterior
Exterior Feature Metal/Vinyl, See Remarks
Utilities Available Sewer Connected, Electric, Natural Gas Connected
Amenities Available Athletic Court, Deck, Fenced-Partially
View Y/N Yes
View Territorial
Roof Type Composition
Building
Lot Description Paved, Sidewalk
Sewer Sewer Connected
Water Public
New Construction No
Schools
School District Edmonds
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
Read Less
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
"Three Trees" icon indicates a listing provided courtesy of NWMLS.