364 Elizabeth St - Apartments FOR SALE


Monroe, WA 98272
$1,910,000 USD
206-333-4031
364 Elizabeth St, Monroe, WA for Sale
$1,910,000 USD
Apartments - FOR SALE
1/18
null | 5.74% Cap Rate

364 Elizabeth St
Monroe, WA 98272


HIGHLIGHTS

  • Turn-Key Asset: 5/6 units have been renovated
  • Modern Upgrades: Stainless Steel appliances, quartz countertops, modern cabinetry, and vinyl floors
  • Exterior Renovations: New paint, roof, and landscaping within the last 3 years

OVERVIEW

We are pleased to present Elizabeth Apartments, a prime investment opportunity located in Monroe. Built in 1967, this well-maintained property comprises six spacious townhome-style units, each averaging 952 square feet. The property is situated just a mile from the Evergreen State Fair, with easy access to State Route 522 and Highway 2, offering residents convenient access to nearby retailers and employers. Five of the six 2-bedroom 1.5-bathroom units feature modern upgrades, including stainless steel appliances, quartz countertops, modern cabinetry, and vinyl flooring. The exterior of the property has also been recently renovated with fresh paint and roofing, enhancing curb appeal and improving long-term durability. The remaining unit can be renovated and low in-place rents could be increased to proven rents increase cashflow. Elizabeth Apartments offers investors a turn-key asset with built-in upside with little to no heavy lifting. This property is located in the path of progress with local median incomes rising at a rapid pace.

FOR SALE DETAILS

PRICE

$1,910,000 USD

PRICE/SF

$334 USD /SF

# OF UNITS

6

PRICE/UNIT

$318,333

CAP RATE

5.74%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Elizabeth Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1967

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,682 SF

ZONING

MR6000

APN/PARCEL ID

004436-002-003-00

ASK ABOUT THIS PROPERTY

Joe KinkopfNorthmarqMore Info
206-333-4031

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Joe KinkopfNorthmarqMore Info
206-333-4031

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