303 Poppy Rd - Apartments FOR SALE


Bothell, WA 98012- North Creek Snohomish
$4,199,900 USD
425-280-6542
303 Poppy Rd, Bothell, WA for Sale
$4,199,900 USD
Apartments - FOR SALE
1/23
null | 6.59% Cap Rate


OVERVIEW

Discover An Exceptional Multifamily Investment Opportunity Tucked Away In Bothells Desirable Canyon Park Area. This Private And Secluded Property Spans 4.55 Acres And Features 17 Well Maintained Units. The Unit Mix Is Ideal For Strong Tenant Demand, Consisting Of One ~1,000 Sq. Ft. Three-Bedroom Unit, Eight ~800 Sq. Ft. Two-Bedroom Units, And Eight ~600 Sq. Ft. One-Bedroom Units. 12,750 Total Building Square Footage. The Property Also Offers 27 Parking Spaces, Coin-Op Laundry, And Sits Across Five Separate Lots. Recent Renovations In Eight Units And Deck Updates Completed 4-5 Years Ago. 10-Year-Old Roof. Zero Current Vacancies And Below-Market Rents, This Asset Provides Immediate Stability With Value-Add Potential. 2024 Proforma Gross Income Is $362,651, Net Income $276,767 And Cap Rate Of 6.6%. 2025 Proforma Gross Income Is $365,000, Net Income $250,000 And Cap Rate Of 6.16%. 2026 Proforma Gross Income $381,452, Net Income $281,452 And Cap Rate Of 6.7%. Don't Miss This Rare Chance To Acquire A Great Income-Producing Apartment Property With Meaningful Upside In Canyon Park, Bothell!

FOR SALE DETAILS

PRICE

$4,199,900 USD

PRICE/SF

$329 USD /SF

# OF UNITS

17

PRICE/UNIT

$247,053

CAP RATE

6.59%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1968

PARKING SPACES

27

LAND DETAILS

LAND ACRES

4.55 AC

LAND SF

198,198 SF

ZONING

R96, Bothell

APN/PARCEL ID

003730-007-001-01

ASK ABOUT THIS PROPERTY

Dave HilbertReal Estate 2000 Corp.More Info
425-280-6542

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Dave HilbertReal Estate 2000 Corp.More Info
425-280-6542

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