The Armar | 6511 Armar Rd
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The Armar 6511 Armar Rd
11 Unit Block of Flats £2,425,595 (£220,509/Unit) 6.06% Net Initial Yield Marysville, WA 98270
Investment Highlights
- 11 townhome units with value add potential in a suburban neighborhood.
- Large townhomes style units averaging 1134 SF.
- Median household income of $88,000 and 40,000 jobs within a 5-mile radius.
- Potential to increase NOI through management or partial renovation.
- 1 mile from I5 corridor and 4 miles from downtown Everett.
Executive Summary
We are pleased to present The Armar in Marysville, WA. This 1968 vintage asset features 11 large, partially renovated townhome units averaging 1134 SF. There are 10, 2-bedroom 1.5-bathroom units and 1, 2-bedroom 1-bathroom unit. Unit interiors feature value add potential with laminated vinyl plank flooring, new lighting fixtures, and refaced cabinets. There is potential to increase the in-place NOI by capturing a 13% delta between current and market rents.
Residents of The Armar are able to enjoy the calm suburban location while being within 1 mile of Marysville’s downtown and a short 4 mile commute away from Everett. The property also provides easy access to many outdoor activities in the Cascade Mountain Range to the east and the Puget Sound to the west. The Armar provides an excellent opportunity for an investor to acquire a stabilized asset with large units in a landlord friendly submarket.
Residents of The Armar are able to enjoy the calm suburban location while being within 1 mile of Marysville’s downtown and a short 4 mile commute away from Everett. The property also provides easy access to many outdoor activities in the Cascade Mountain Range to the east and the Puget Sound to the west. The Armar provides an excellent opportunity for an investor to acquire a stabilized asset with large units in a landlord friendly submarket.
Property Facts
| Price | £2,425,595 | Apartment Style | Low Rise |
| Price Per Unit | £220,509 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.68 AC |
| Net Initial Yield | 6.06% | Building Size | 12,470 SF |
| No. Units | 11 | Number of Floors | 2 |
| Property Type | Residential | Year Built | 1968 |
| Property Subtype | Apartment | Parking Ratio | 2/1,000 SF |
| Price | £2,425,595 |
| Price Per Unit | £220,509 |
| Sale Type | Investment |
| Net Initial Yield | 6.06% |
| No. Units | 11 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.68 AC |
| Building Size | 12,470 SF |
| Number of Floors | 2 |
| Year Built | 1968 |
| Parking Ratio | 2/1,000 SF |
Unit Amenities
- Storage Space
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1.5 | 10 | - | 1,150 |
| 2+1 | 1 | - | 970 |
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PROPERTY TAXES
| Parcel Number | 300528-004-021-00 | Improvements Assessment | £1,759,730 |
| Land Assessment | £422,054 | Total Assessment | £2,181,784 |
PROPERTY TAXES
Parcel Number
300528-004-021-00
Land Assessment
£422,054
Improvements Assessment
£1,759,730
Total Assessment
£2,181,784
zoning
| Zoning Code | R6.5 SFH, Marysville |
| R6.5 SFH, Marysville |
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The Armar | 6511 Armar Rd
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