Multifamily
Mt View Apartments
4113 156th St SW, Lynnwood, WA 98087
Listing Price: $9,550,000
Investment Overview
Completed in 1985, Mt View Apartments is a three-building, 35-unit apartment community conveniently located in North Lynnwood on an expansive 1.66-acre parcel. The property represents an operational value-add investment for a cash-flow minded investor looking for quality assets in a desirable South Snohomish County location, offering an 8.34% average cash yield over the life of the hold period. Adjusted returns are also excellent with a 7.16% adjusted cap rate. The property consists of 33 two-bedroom, one-bathroom units averaging ?964 square feet with laundry in-unit and a personal balcony and fireplaces on the top floor, and patios and a front yard for the bottom floor. The two remaining units are non-conforming one-bedroom, one-bathroom units averaging ?700 square feet.
Lynnwood, Washington, located in Snohomish County about 16 miles north of Seattle, is conveniently positioned along Interstate-5 and Highway 405. This makes commuting south to Seattle, east to Redmond and Bellevue, or north to Everett straightforward. Additionally, Lynnwood Light Rail Station, just an 11-minute drive from Mt View Apartments, opened for ridership on August 30th, 2024.
Investment Highlights
- Favorable Operating Environment: Location in Snohomish County accesses favorable landlord-tenant legislation.
- Operational Value-Add Opportunity: Current operations leave a tremendous amount of meat on the bone in reducing economic vacancy
- Attractive Return Metrics: 7.16% adjusted CAP rate and 7.54% average cash yield.
Exclusively Listed By
Listing Price: $9,550,000
Investment Highlights
- Favorable Operating Environment: Location in Snohomish County accesses favorable landlord-tenant legislation.
- Operational Value-Add Opportunity: Current operations leave a tremendous amount of meat on the bone in reducing economic vacancy
- Attractive Return Metrics: 7.16% adjusted CAP rate and 7.54% average cash yield.
Investment Overview
Completed in 1985, Mt View Apartments is a three-building, 35-unit apartment community conveniently located in North Lynnwood on an expansive 1.66-acre parcel. The property represents an operational value-add investment for a cash-flow minded investor looking for quality assets in a desirable South Snohomish County location, offering an 8.34% average cash yield over the life of the hold period. Adjusted returns are also excellent with a 7.16% adjusted cap rate. The property consists of 33 two-bedroom, one-bathroom units averaging ?964 square feet with laundry in-unit and a personal balcony and fireplaces on the top floor, and patios and a front yard for the bottom floor. The two remaining units are non-conforming one-bedroom, one-bathroom units averaging ?700 square feet. Lynnwood, Washington, located in Snohomish County about 16 miles north of Seattle, is conveniently positioned along Interstate-5 and Highway 405. This makes commuting south to Seattle, east to Redmond and Bellevue, or north to Everett straightforward. Additionally, Lynnwood Light Rail Station, just an 11-minute drive from Mt View Apartments, opened for ridership on August 30th, 2024.