Edgewood North Apartments
Listing Type: For Sale
Property Type: Multi-Family
Status: Pending
CBA ID#: 638541
7221 196th St SW
Lynnwood, WA 98036

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Commercial Property

Marketing Description:

The Edgewood North apartments are a rare opportunity to acquire a solid real estate investment with significant upside potential. All 46 units are presently rented. Convenient location for north, south, and east commutes and very close to Edmonds CC. Buildings A - D were built in 1991 and are predominantly 2 bed/2 bath flats. Buildings E - G were built in 1998 and are slightly larger townhome-style units. In 2020, several units were upgraded with paint, LVP, carpet, white cabinets, stainless appliances, and trim for an instant 15-20% increase in rent. This creates a PROVEN opportunity for upgrades, to substantially increase the value of the investment. 2011 roofs, 2012 decks, 2020 exterior staircases/railings - hard parts are already done!

Land Features:

  • Lot Size: 120661 SqFt
  • Lot Acreage: 2.77 Acres

Building Features:

  • Building Size: 51311 SqFt
  • Number of Floors: 2
  • Cap Rate: 3.77%
  • Year Built: 1991
This Listing Supplied Courtesy of Keller Williams Eastside
Information is based on data available to the associate, including county records.
The information has not been verified by the associate and should be verified by the buyer.
Properties with the CBA logo are listed by the Commercial Brokers Association
The associate of this site is not a multiple listing service but is a member of a local MLS.
Equal Housing Opportunity