19207 60th Ave W - Apartments FOR SALE


Lynnwood, WA 98036- Downtown Lynnwood
$1,900,000 USD
425-327-9320
19207 60th Ave W, Lynnwood, WA for Sale
$1,900,000 USD
Apartments - FOR SALE
1/21
null | 5.64% Cap Rate

19207 60th Ave W
Lynnwood, WA 98036
Downtown Lynnwood


HIGHLIGHTS

  • Excellent West Lynnwood location
  • Rare walkable location boasting a walk score of 83 with ample amenities within half a mile
  • 1.5 miles from the Lynnwood light rail station
  • Well maintained attractive property with many updates
  • 4 units fully renovated
  • All units feature hardwood floors

OVERVIEW

Paragon Real Estate Advisors is pleased to present the Village Manor Apartments, a rare multifamily investment opportunity in the thriving Lynnwood market. This well-maintained 8-unit property offers investors a strong in-place tenant base with clear upside through a proven value-add strategy, already implemented in 50% of the units. The unit mix consists of three 1-bedroom + den units, four 2-bedroom units, and one spacious 2-bedroom + den unit. The renovated 2-bedroom units feature quartz kitchen countertops, refinished cabinetry with new hardware, modern bathroom vanities and tub surrounds, and new LVP flooring in kitchens and bathrooms. Each unit features hardwood flooring throughout the living rooms and bedrooms along with access to a shared central courtyard and an updated common laundry room, enhancing the resident experience. Village Manor Apartments is a low-maintenance asset, with many major building systems already updated. The roof was replaced in 2016, and the property benefits from double-pane vinyl windows, Square D electrical panels, electric baseboard heating, and predominantly PEX plumbing. The brick exterior, combined with recently painted doors and eaves, contributes to strong curb appeal and long-term durability. Situated on an expansive 21,344-square-foot lot, the property offers 10 on-site open parking stalls, an attractive amenity in this submarket. The location is highly desirable, positioned just 2.7 miles from Alderwood Mall, 1.5 miles from the new Lynnwood Light Rail Station, and one block from Safeway. With strong rental demand, a solid physical condition, and both immediate cash flow and future upside, Village Manor Apartments represents an exceptional investment opportunity in one of Snohomish County’s fastest-growing rental markets.

FOR SALE DETAILS

PRICE

$1,900,000 USD

PRICE/SF

$364 USD /SF

# OF UNITS

8

PRICE/UNIT

$237,500

CAP RATE

5.64%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Village Manor Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1957

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.49 AC

LAND SF

21,359 SF

ZONING

CG, Lynnwood

APN/PARCEL ID

005853-000-008-00

ASK ABOUT THIS PROPERTY

Nick HemmingParagon Real Estate AdvisorsMore Info
425-327-9320

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Nick HemmingParagon Real Estate AdvisorsMore Info
425-327-9320

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.