Paragon Real Estate Advisors is pleased to present the Chrimar Apartments, 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. Situated on two tax parcels with an expansive 61,419 square feet of land, the property offers an abundance of parking with about 51 open parking stalls. The property is zoned CDM which offers an investor or developer the opportunity to either develop the property in the shorter term or own a longer-term land bank for future development. The property is centrally located right next to Edmonds College, just 3 miles from Alderwood Mall, 2 miles to the new Lynnwood light rail station and within close walking distance to various retail amenities. With strong rental demand in Lynnwood and being well located, this property stands out as an exceptional opportunity for both investors and developers alike.