1625 Chestnut St

—
Beds
—
Baths
3,424 Sq. Ft.
$283 / Sq. Ft.
3,424
Sq. Ft.
$283
per Sq. Ft.

Description

Instant cash flow opportunity! This 4-plex tucked away on a quiet street next to Jackson Park is a turnkey revenue machine. Built as a condo with double walls between units. Brand new roof completed in January 2021! Washer/Dryer in each unit. Lower units have enclosed yards (tenant maintained) while top units have large decks. Operating costs stay low as the owner pays garbage while the tenants pay all other utilities. 3 of 4 units have tenants in place thru end of 2021, while unit 4 is recently...Instant cash flow opportunity! This 4-plex tucked away on a quiet street next to Jackson Park is a turnkey revenue machine. Built as a condo with double walls between units. Brand new roof completed in January 2021! Washer/Dryer in each unit. Lower units have enclosed yards (tenant maintained) while top units have large decks. Operating costs stay low as the owner pays garbage while the tenants pay all other utilities. 3 of 4 units have tenants in place thru end of 2021, while unit 4 is recently vacant with proforma rent at $1300+. Potential for rent increases with COVID restrictions to be lifted at end of March. The tenants love living here, and are unaware of sale.

Listing Agent

  1. Sterling Roe

    Sterling Roe

    Listing Agent

    Compass

    sterling.roe@compass.com

    P: (425)-785-7107

Property Details for 1625 Chestnut Street

Community Name
Riverside
School District
Everett
Number of Assigned Spaces
8
Total Covered Parking
0
Entry Date
03-19-2021
Energy Source
Electric
Sewer
Sewer Connected
LISTING UPDATED: 09/05/2024 05:42 AM

Property Details for 1625 Chestnut Street

StatusSold
MLS #1744967
Days on Market26
Cumulative Days on Market26
Taxes$6,152 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1985
Lot Size0.14 AC / 6,098 SF
CountySnohomish County
Buyer's Agent Compensation3%

Location

Listing Courtesy of COMPASS

Sold By Real Property Associates

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Building Information for 1625 Chestnut Street

Stories2Residences4Year Built1985Building Size-Lot Size0.14 AC / 6,098 SF

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$5,240 per month

30 year fixed, 6.15% Interest

Principal and Interest

$4,728

Property Taxes

$513

HOA Dues

$0

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Property Information for 1625 Chestnut Street

Summary
Location and General Information
  • Style: 54 - 4-Plex
  • Area: 740 - Everett/Mukilteo
  • Elementary School: Garfield Elem
  • Middle Or Junior School: North Mid
  • High School: Everett High
  • Effective Year Built Source: Public Records
  • Directions: I-5 North; Marine View Dr. exit - curve left. Left at 1st light. Left onto Chestnut. 4-Plex on left next to park: Grey and white. Park on the street.
  • Leased Items: None
  • Property Sub Type: MULT
  • View: No
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2020
Parking
  • Number of Carport Spaces: 0.0
  • Carport: No
  • Open Parking Spaces: 8.0
  • Open Parking: Yes
Interior and Exterior Features
Interior Features
  • Furnished: Unfurnished
  • Floor Covering: Ceramic Tile, Laminate, Vinyl
  • Features: Ceramic Tile, Laminate Hardwood
  • Amenities: Thermal Windows
  • Fireplace: No
  • Heating: Yes
  • FIRPTA: No
Exterior Features
  • Exterior: Wood
  • Roof: See Remarks
Property
Utilities
  • Water Source: Public
  • Water/Sewer/Garbage: 678
  • Power Company: SnoPUD
  • Sewer Company: Everett
  • Water Company: Everett
  • Power Production Type: Electric
  • Utilities: Sewer Connected, Electric
Property and Assessments
  • New Construction YN: No
  • Foundation: Block
  • Zoning Class: Multi-Family
  • First Right Of Refusal: false
  • Possible Use: Multi-Family
  • Preliminary Title Ordered: Yes
  • Senior Community: No
  • Special Listing Conditions: None
  • Year Built Effective: 1986
  • Photos Count: 27
Lot Information
  • Lot Size Source: Public Records
  • Parcel Number Free Text: 00619732501201
  • Building Condition: Good
  • Calculated Square Footage: 3424
  • Structure Type: Quadruplex
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 3424.0
  • Building Area Units: Square Feet
  • Property Type: Residential Income
  • Elevation Units: Feet
  • Irrigation Water Rights: No
  • Green Energy Efficient: Thermal Windows
Multi Family
Building Details
  • Number of Uncovered Spaces: 8
  • Number of Stories in Building: 2
  • Vacancy Rate: 25
  • Number Of Units Total: 4
  • Units Below Grade: false
  • Units In Building Total: 4
Financing / Income and Expenses
  • Electric Expense: $480
  • Total Expenses: 9797
  • Gross Adjusted Income: 58625
  • Gross Rent Multiplier: 18
  • Gross Scheduled Income: $58,625
  • Insurance Expense: $1,638
  • Net Operating Income: $48,827
  • Other Expenses: $848
  • Total Monthly Income: 4975
  • Fuel Expense: $0
Rental
Rent Information
  • Occupant Type: Tenant
  • Leasable Area: 3424.0
  • Leasable Area Units: Square Feet

Property History for 1625 Chestnut Street

DateEvent & SourcePriceAppreciation
Nov 14, 2024

Sold (Public Record)

Public Record #1546441980

$1,280,000

+8.3% / yr

May 20, 2021

Sold

NWMLS #1744967

$970,000—
May 18, 2021

Sold (Public Record)

Public Record #1461459613

$970,000—
May 18, 2021

Sold (Public Record)

Public Record #1461663248

$970,000

+3.9% / yr

Apr 14, 2021

Pending

NWMLS #1744967

—
Mar 19, 2021

Listed (Active)

NWMLS #1744967

$1,100,000—
Jul 16, 2018

Sold

NWMLS #1305133

$870,000—
Jul 12, 2018

Sold (Public Record)

Public Record #626440301

$870,000

+33.2% / yr

Jun 26, 2018

Pending

NWMLS #1305133

—
Jun 4, 2018

Listed (Active)

NWMLS #1305133

$912,300—
Aug 25, 2014

Sold

NWMLS #411606

$285,000—
Aug 22, 2014

Sold (Public Record)

Public Record #433567192

$285,000

-5.9% / yr

Sep 28, 2013

Pending

NWMLS #411606

—
Oct 4, 2012

Listed (Active)

NWMLS #411606

$335,000—
Mar 31, 2008

Sold

NWMLS #27155583

$425,000—
Mar 25, 2008

Sold (Public Record)

Public Record #234734301

$420,000—
Feb 22, 2008

Pending

NWMLS #27155583

—
Aug 24, 2007

Listed (Active)

NWMLS #27155583

$475,000—
DateEvent & SourcePrice
11/14/2024

Sold (Public Record)

Public Record #1546441980

$1,280,000

+8.3% / yr

05/20/2021

Sold

NWMLS #1744967

$970,000
05/18/2021

Sold (Public Record)

Public Record #1461459613

$970,000
05/18/2021

Sold (Public Record)

Public Record #1461663248

$970,000

+3.9% / yr

04/14/2021

Pending

NWMLS #1744967

—
03/19/2021

Listed (Active)

NWMLS #1744967

$1,100,000
07/16/2018

Sold

NWMLS #1305133

$870,000
07/12/2018

Sold (Public Record)

Public Record #626440301

$870,000

+33.2% / yr

06/26/2018

Pending

NWMLS #1305133

—
06/04/2018

Listed (Active)

NWMLS #1305133

$912,300
08/25/2014

Sold

NWMLS #411606

$285,000
08/22/2014

Sold (Public Record)

Public Record #433567192

$285,000

-5.9% / yr

09/28/2013

Pending

NWMLS #411606

—
10/04/2012

Listed (Active)

NWMLS #411606

$335,000
03/31/2008

Sold

NWMLS #27155583

$425,000
03/25/2008

Sold (Public Record)

Public Record #234734301

$420,000
02/22/2008

Pending

NWMLS #27155583

—
08/24/2007

Listed (Active)

NWMLS #27155583

$475,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1625 Chestnut Street

Taxable ValueLand$283,200Additions$607,040Total$890,240
Tax Record2025$7,837 ($653 / month)
Home Facts
Baths4Total Finished SqFt3,424 SqFtAbove Ground SqFt3,424 SqFtStories1Lot Size6,098 SqFtStyleQuadraplexYear Built1985ZoningR-3CountySNOHOMISHAPN00619732501201

Schools near 1625 Chestnut Street

This home is within Everett School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Garfield Elementary School
PublicPK to 5

North Middle School
Public6 to 8

Everett High School
Public9 to 12

Sequoia High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of COMPASS

Based on information submitted to the MLS GRID as of 09/05/2024 05:42 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.