700 W Maple St - Apartments FOR SALE


Monroe, WA 98272
$8,100,000 USD
206-333-4031
700 W Maple St, Monroe, WA for Sale
$8,100,000 USD
Apartments - FOR SALE
1/20
null | 5.88% Cap Rate

700 W Maple St
Monroe, WA 98272


HIGHLIGHTS

  • Diverse Unit Mix: One-, two-, and three-bedroom layouts averaging 908 square feet.
  • Renovated Interiors: Many units feature stainless steel appliances, granite countertops, luxury vinyl plank flooring, and modern finishes.
  • Low Density Setting: Situated on an expansive 89,298-square-foot parcel, providing a desirable low-density environment.
  • Attractive Location: Positioned in Snohomish County at the base of the Cascade Mountains, 16 miles from Everett and 25 miles from Bellevue.
  • Strong Operations: Achieving average rents of $2,007 with demonstrated positive trends across T12, T6, and T3 performance periods.

OVERVIEW

Northmarq is pleased to exclusively present Parkside Apartments, a 29-unit multifamily community located in Monroe, Washington. Parkside offers a balanced mix of one-, two-, and three-bedroom floorplans, averaging 908 square feet. Each residence is equipped with in-unit washers and dryers, with many units upgraded to include stainless steel appliances, granite countertops, luxury vinyl plank flooring, and other modern finishes. The property is situated on a large 89,298-square-foot parcel, providing residents with a lower-density living environment and ample on-site parking. Parkside Apartments has been well maintained and is currently achieving strong operating performance, with average rents of $2,007 and positive T12, T6, and T3 trends. This consistent operational trajectory underscores the property’s strong positioning within the Snohomish County rental market. Strategically located near Highway 2, Parkside offers residents both lifestyle and convenience—providing easy access to year-round recreation in the Cascade Mountain Range, a 20-minute commute to Everett, and close proximity to major employment hubs in Bellevue and the broader Seattle metropolitan area. Parkside Apartments represents an opportunity to acquire a stabilized, well-located, and updated multifamily community in one of the Puget Sound region’s most dynamic suburban submarkets.

FOR SALE DETAILS

PRICE

$8,100,000 USD

PRICE/SF

$318 USD /SF

# OF UNITS

29

PRICE/UNIT

$279,310

CAP RATE

5.88%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Parkside Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1982

PARKING SPACES

40

LAND DETAILS

LAND ACRES

2.05 AC

LAND SF

89,298 SF

ZONING

MR6000

APN/PARCEL ID

270601-002-023-00,270601-002-024-00

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.