531 83rd Avenue SE
Lake Stevens, Washington WA 98258
Price: $1,400,000
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Listing ID: 1963002
Status: Active
SqFt: 3,567 Sq Ft
Acres: 1.030 Acres
Subdivision: Lake Stevens
Year Built: 1967

**INVESTOR ALERT ~ Desirable City of Lake Stevens! Preliminary short plat done - shovel ready. (Lot 1) has existing Triplex ~ New roof and gutters. Fresh updates with new appliances ~ granite counters ~ vinyl flooring ~ lighting ~ paint and permitted decks. Each unit has their own fenced yard and lower-level laundry including storage space. Unit 1 showcases a below grade studio. (Lot 2) ~ residential, (lot 3) w/duplex potential. City water & sewer. Prime location w/new housing developments, Costco, and quick access to Hwy 9, Hwy 2 and I-5. See attached plat for improvements needed. 100% occupancy including original farmhouse ~ please use discretion when walking exterior. Great opportunity for the investor and/or 1031 Exchange.

Primary Features

County: Snohomish
Price Before Reduction: 1500000
Price Reduction Date: 2023-03-09T22:34:59+00:00
Property Sub Type: Multi-Family
Property Type: Residential Income
Subdivision: Lake Stevens
Year Built: 1967


Building Area Units: Square Feet
Flooring: Laminate
Furnished: Unfurnished
Interior Features: Laminate
Living Area Units: Square Feet
Stories Total: 1


Elevation Units: Feet
Exterior Features: Wood Products
Foundation Details: Poured Concrete
Lot Features: Paved
Lot Number: 8
Lot Size Square Feet: 44867
Lot Size Units: Square Feet
MLS Lot Size Source: PR
Number Of Units Total: 4
Open Parking Spaces: 10
Parking Features: RV Parking
Parking Total: 12
Parking Uncovered Spaces: 10
Roof: Composition
Sewer: Available, Sewer Connected
Sewer Company: City of Lake Stevens
Structure Type: Triplex
Style Code: 53 - Tri-plex
Units Below Grade: true
Units In Building Total: 4
Water Company: City
Water Sewer Garbage: 9037
Water Source: Community


Block: 001 ~ D-01
Building Area Total: 3567
Building Name: Holly Add to East Everett
Country: US
Elementary School: Buyer To Verify
High School: Buyer To Verify
High School District: Lake Stevens
Middle Or Junior School: Buyer To Verify
MLS Area Major: 760 - Northeast Snohom
View: Mountain(s), Territorial
Waterfront: no
Zoning Class: Multi-Family,Residential
Zoning Jurisdiction: City


Amenities: Basement,Storage
Effective Year Built Source: See Remarks
First Right Of Refusal: no
Mls Status: Active
Offers: Seller intends to review offers upon receipt
Possible Use: Multi-Family, Residential
Power Company: PUD
Power Production Type: Electric
Preliminary Title Ordered: yes
Property Condition: Good
Site Features: Deck, Fenced-Partially, RV Parking
Year Built Effective: 1967


Cap Rate: 3.96
Gross Adjusted Income: 72600
Gross Rent Multiplier: 19
Gross Scheduled Income: 72600
Insurance Expense: 2232
Leasable Area: 4539
Leasable Area Units: Square Feet
Leased Items: None
Net Operating Income: 55426
Possession: Negotiable, Tenant's Rights
Sale Type: MLS
Seller Disclosure: Provided
Special Listing Conditions: None
Tax Annual Amount: 5903
Tax Year: 2023
Total Expenses: 17172
Total Monthly Income: 6050

Zoning Info

The database information herein is provided from the Northwest Multiple Listing Service (NWMLS). NWMLS data may not be reproduced or redistributed and is only for people viewing this site. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. The information contained in this listing has not been verified by Keller Williams North Sound (7739) and should be verified by the buyer. © 2023 NWMLS. All rights reserved. Data last updated: Friday, June 9th, 2023 08:12:01 PM.
Active Listing courtesy of Snohomes Realty Inc
Active Listing courtesy of Snohomes Realty Inc

Contact - Listing ID 1963002

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Tracie Diemert

1027 State Ave Suite 102
Marysville, WA 98270
Phone: 425-308-6641

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