Introducing HERITAGE MANOR - a rare investment opportunity in downtown Everett, WA. This historic 22-unit turnkey asset, located at 2501 Colby Ave, Everett, WA 98201, combines timeless charm with modern conveniences. With a renovation in 2024, the property boasts fully updated units featuring stainless steel appliances, quartz countertops, and new flooring. Offering a mix of one-bedroom units with a den, Heritage Manor provides versatility and comfort. Recent upgrades totaling over $500,000 include a new TPO roof, water tanks, and electrical enhancements, ensuring peace of mind for savvy investors. Situated near future light rail expansion and Naval Station Everett, the property benefits from a strong rental demand, making it an ideal addition to any investment portfolio. Don't miss this opportunity to own a piece of Everett's history while enjoying a steady income stream in a thriving market. - Due to limited inventory, Heritage Manor offers a rare investment opportunity in Everett's thinly traded market. - Heritage Manor has preserved its historic charm as a 1908 build, while residents enjoy fully renovated units with stainless steel appliances, quartz countertops, and new flooring throughout 20 of the 22 units. - The current ownership has invested over $500,000 in total CapEx since acquisition to reposition the asset, including: a new TPO roof, new water tanks, electrical upgrades to light fixtures, outlets, heaters, and fans, as well as partial plumbing updates. - Heritage Manor consists entirely of one-bedroom units with a den, offering a potential second primary bedroom or living space, across varying square footage. - Building amenities include community laundry, on-site storage, controlled building access, and 21 reserved tenant surface parking spots in addition to ample street parking. - Located near Naval Station Everett, Heritage Manor benefits from steady rental demand from military personnel in addition to the 40,000 jobs supported by the Port of Everett. - Heritage Manor benefits from strong renter demographics, with 47% of housing units renter-occupied, compared to 38% in the Seattle MSA, as well as 67% of workers are in white-collar positions.