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Mt View Apartments 4113 156th St SW

35 Unit Block of Flats £7,472,398 (£213,497/Unit) 7.30% Net Initial Yield Lynnwood, WA 98087

Investment Highlights

  • Favorable Operating Environment - Location in Snohomish County accesses favorable landlord-tenant legislation
  • Attractive Return Metrics - 7.16% adjusted cap rate and 8.34% average cash yield
  • Recent Capital Improvement - Roofs were replaced in 2020 and many windows replaced with vinyl
  • Operational Value-Add Opportunity - Current Operations leave a tremendous amount of meat on the bone in reducing economic vacancy
  • Strong Unit Mix - Nearly all two-bedroom units with a dedicated laundry room in each unit
  • Excellent Proximity to Major Employers and Attractions • 9 minutes to Alderwood Mall • 11 minutes to Lynnwood Light Rail Station – Just opened to tran

Financial Summary (Actual - 2023) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
Effective Gross Income $99,999 $9.99
Taxes - -
Operating Expenses - -
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Actual - 2023) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual $99,999
Annual Per SF $9.99
Vacancy Loss
Annual $99,999
Annual Per SF $9.99
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Taxes
Annual -
Annual Per SF -
Operating Expenses
Annual -
Annual Per SF -
Total Expenses
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual $99,999
Annual Per SF $9.99

Property Facts

Price £7,472,398 Building Class C
Price Per Unit £213,497 Lot Size 1.66 AC
Sale Type Investment Building Size 33,212 SF
Net Initial Yield 7.30% Average Occupancy 100%
No. Units 35 Number of Floors 2
Property Type Residential Year Built 1985
Property Subtype Apartment Parking Ratio 1.81/1,000 SF
Apartment Style Low Rise
Price £7,472,398
Price Per Unit £213,497
Sale Type Investment
Net Initial Yield 7.30%
No. Units 35
Property Type Residential
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 1.66 AC
Building Size 33,212 SF
Average Occupancy 100%
Number of Floors 2
Year Built 1985
Parking Ratio 1.81/1,000 SF

Unit Amenities

  • Balcony
  • Dishwasher
  • Fireplace
  • Washer/Dryer Hookup
  • Kitchen
  • Refrigerator
  • Oven
  • Range
  • Tub/Shower
  • Porch

Site Amenities

  • Fenced Lot
  • Property Manager on Site
  • Recycling

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
2+1 33 £1,721 964
1+1 2 £1,330 700

Links

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PROPERTY TAXES

Parcel Number 003729-011-023-03 Improvements Assessment £4,192,993 (2024)
Land Assessment £1,329,852 (2024) Total Assessment £5,522,845 (2024)

PROPERTY TAXES

Parcel Number
003729-011-023-03
Land Assessment
£1,329,852 (2024)
Improvements Assessment
£4,192,993 (2024)
Total Assessment
£5,522,845 (2024)

zoning

Zoning Code MR, Lynnwood
MR, Lynnwood
(206) 826-5731

  • Listing ID: 33679671

  • Date on Market: 29/10/2024

  • Last Updated:

  • Address: 4113 156th St SW, Lynnwood, WA 98087

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© 2024 CoStar Group

Mt View Apartments | 4113 156th St SW
(206) 826-5731 x

Mt View Apartments | 4113 156th St SW

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Zac Mazzuca

(206) 826-5731

(206) 826-5731

Ryan Dinius

(206) 826-5674

(206) 826-5674

Sid Warsinske

(206) 826-5672

(206) 826-5672

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