520 S Kelsey St - Apartments FOR SALE


Monroe, WA 98272
$5,200,000 USD
206-333-2724
520 S Kelsey St, Monroe, WA for Sale
$5,200,000 USD
Apartments - FOR SALE
1/9
null | 6.05% Cap Rate

520 S Kelsey St
Monroe, WA 98272


HIGHLIGHTS

  • Diverse Unit Mix One-bedroom, two-bedroom, and large two- and three-bedroom townhome layouts, averaging 1,134 SF.
  • Expansive Townhomes Two-bedroom (1,338 SF) and three-bedroom (1,450 SF) townhomes with attached two-car garages
  • Renovated Interiors: Upgraded units include stainless steel appliances, granite countertops, modern lighting, luxury vinyl plank flooring
  • Robust Parking: Strong 2.67 spaces per unit ratio with 20 garages and 28 surface spaces.
  • Strategic Location: Located in Snohomish County, offering immediate access to Highway 2, a 20-minute commute to Everett

OVERVIEW

Northmarq is pleased to exclusively present Cherry Creek Apartments, a highly desirable 18-unit multifamily community located in Monroe, Washington. Cherry Creek offers a diverse unit mix consisting of one-bedroom flats, two-bedroom flats, and spacious two- and three-bedroom townhomes, with an average unit size of 1,134 square feet. The property has undergone extensive renovations, with most residences featuring stainless steel appliances, granite countertops, luxury vinyl plank flooring, modern lighting, refaced cabinetry, and in-unit washer/dryers. The community provides a superior parking ratio of 2.67 spaces per unit, including 20 garage spaces and 28 surface stalls. Select townhome units feature attached two-car garages and floorplans up to 1,450 square feet, positioning Cherry Creek as a competitive alternative to single-family housing. Situated in Snohomish County at the base of the Cascade Mountain Range, Cherry Creek benefits from strong regional demand drivers. The property offers convenient access to Highway 2, a 20-minute commute to Everett, and proximity to major employment centers in Bellevue and the greater Seattle metro. Cherry Creek Apartments represents a rare opportunity to acquire a renovated, well-located community in one of the Puget Sound region’s fastest-growing suburban markets.

FOR SALE DETAILS

PRICE

$5,200,000 USD

PRICE/SF

$318 USD /SF

# OF UNITS

18

PRICE/UNIT

$288,889

CAP RATE

6.05%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cherry Creek Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1989

PARKING SPACES

48

LAND DETAILS

LAND ACRES

0.94 AC

LAND SF

40,946 SF

ZONING

RML, Monroe

APN/PARCEL ID

004846-003-010-00

ASK ABOUT THIS PROPERTY

Tyler SmithNorthmarqMore Info
206-333-2724

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

Tyler SmithNorthmarqMore Info
206-333-2724

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