2512 Colby Avenue, Everett, WA 98201
- $2,400,000
Listing courtesy of Windermere R.E. Northeast, Inc.
- List Price
- $2,400,000
- Status
- ACTIVE
- MLS#
- 2156981
- Days on Market
- 92
- Annual Tax Ammount
- 8983
Property Description
Fantastic mixed use building in downtown Everett with additional development potential. The site consists of two tax parcels including the primary building and additional income generating parking lot. Two large 1,562 sqft mid century modern residential top floor apartments with vintage charm and a shared outside rooftop deck adding an additional 1,750 sqft outdoor space. At street level there are two long term tenants with a successful restaurant and dentist office both on long term leases. Potential to add value with an additional 4,500 sqft parking garage/basement and storage areas/coin laundry under the building. Property is within the MU zone, with a max building height of 11 stories with incentives and 7 stories w/out incentives.
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Additional Information
- Community
- Downtown
- Building Condition
- Good
- Style
- 61 - Comm Bldg Ovr 10K
- Year Built
- 1963
- # of Assigned Spaces
- 22
- Roof
- Built-Up
- Tax Year
- 2023
- Potential Terms
- Cash Out, Conventional
- Interior Features
- Ceramic Tile, Wall to Wall Carpet, Laminate
- Flooring
- Ceramic Tile, Laminate, Vinyl, Carpet
- Driving Directions
- I5 N exit 192. Merge onto Broadway. Turn left onto Everett Ave. Turn right onto Colby Ave. Destination will be on the left.
- Electric Expenses
- 960
- Energy Source
- Electric, Natural Gas
- Buyer Agency Compensation
- 2.5
- Net Operating Income
- $69,087
- Gross Adjusted Income
- $96,030
- Gross Scheduled Income
- $99,000
- Water/Sewer/Garbage Expenses
- $6,000
- Cap Rate
- 2.9
- Vacancy Rate
- 3
- Total Expenses
- $26,943
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