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!