2011 Madison Street
2011 Madison Street
Everett, WA 98203
$1,150,000
Price
3
Beds
4
Baths
7,629 Sq. Ft.
$151 / Sq. Ft.
7,629
Sq. Ft.
$151
per Sq. Ft.
Listing provided courtesy of Windermere Real Estate Midtown
Description
Instant equity awaits savvy investor at this multiple strategy value-add site. 5% cap with significant upside. Two-story mixed-use building with three 1-bedroom apartments, three street-front commercial spaces, and three flexible-use spaces on the main level. 26,752 sf neighborhood business (NB) zoned corner site - a blank slate for townhomes, apartments, owner-user, and other uses. Site maintains a neighborhood character with excellent commutes and access to amenities. A great opportunity to invest...Instant equity awaits savvy investor at this multiple strategy value-add site. 5% cap with significant upside. Two-story mixed-use building with three 1-bedroom apartments, three street-front commercial spaces, and three flexible-use spaces on the main level. 26,752 sf neighborhood business (NB) zoned corner site - a blank slate for townhomes, apartments, owner-user, and other uses. Site maintains a neighborhood character with excellent commutes and access to amenities. A great opportunity to invest in the City of Everett, anticipated to be Washington's fastest-growing large city over the next 10 years. First time available in 45 years. Sold As-Is.
- Listed by Leslie Ota • Windermere Real Estate Midtown
Property Details for 2011 Madison Street
Community Name
Pinehurst
School DistrictEverett
ViewTerritorial
Number of Assigned Spaces20
Total Covered Parking0
Entry Date09-05-2023
Energy SourceElectric
SewerSewer Connected
Location
Listing Courtesy of Windermere Real Estate Midtown![]()
Add your commute
LISTING UPDATED: 02/26/2024 07:44 AM
Property Details for 2011 Madison Street
| Status | Active |
|---|---|
| MLS # | 2156193 |
| Days on Market | 237 |
| Cumulative Days on Market | 196 |
| Taxes | $8,332 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1947 |
| Lot Size | 0.61 AC / 26,572 SF |
| County | Snohomish County |
Location
Listing Courtesy of Windermere Real Estate Midtown![]()
Add your commute
Building Information for 2011 Madison Street
Stories2Residences9Year Built1947Building Size-Lot Size0.61 AC / 26,572 SF
Payment Calculator
$6,970 per month
30 year fixed, 7.25% Interest
Principal and Interest
$6,276
Property Taxes
$694
HOA Dues
$0
The Payment Calculator is for illustrative purposes only.
Property Information for 2011 Madison Street
Summary
Location and General Information
- Style: 55 - 5-9 Units
- Site Features: High Speed Internet
- Area: 740 - Everett/Mukilteo
- Directions: Corner of Madison Street and Commercial Avenue
- Leased Items: None
- Property Sub Type: MULT
- View: Yes
- Waterfront: No
Taxes and HOA Information
- Tax Year: 2023
Parking
- Number of Carport Spaces: 0.0
- Carport: No
- Open Parking Spaces: 20.0
- Open Parking: Yes
Interior and Exterior Features
Interior Features
- Floor Covering: Concrete, Laminate, Vinyl, Carpet
- Features: Concrete, Laminate Hardwood, Wall to Wall Carpet
- Amenities: See Remarks,Storage
- Cooling: Yes
- Cooling: Wall Unit(s)
- Fireplace: No
- Heating: Yes
- Heating: Wall Unit(s)
- FIRPTA: No
Exterior Features
- Exterior: Brick, Wood
- Roof: Flat
Property
Utilities
- Water Source: Public
- Water/Sewer/Garbage: 3099
- Power Company: PUD
- Sewer Company: Everett Public Works
- Water Company: Everett Public Works
- Power Production Type: Electric
Property and Assessments
- New Construction YN: No
- Zoning Jurisdiction: City
- Foundation: Poured Concrete
- Zoning Class: Multi-Family,Residential,Retail,See Remarks
- First Right Of Refusal: false
- Possible Use: Multi-Family, Residential, Retail, See Remarks
- Letter On File: Duplicate Prop Type
- Preliminary Title Ordered: Yes
- Senior Community: No
- Special Listing Conditions: None
- Photos Count: 8
Lot Information
- Lot Details: Alley, Corner Lot, Curbs, Open Space, Paved, Sidewalk, Value In Land
- Lot Size Source: Snohomish County
- Parcel Number Free Text: 00544700501300
- Building Condition: Fixer
- Calculated Square Footage: 7629
- Structure Type: Multi Family
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 7629.0
- Building Area Units: Square Feet
- Property Type: Residential Income
- Elevation Units: Feet
- Irrigation Water Rights: No
Multi Family
Building Details
- Number of Uncovered Spaces: 20
- Number of Stories in Building: 2
- Vacancy Rate: 22
- Number Of Units Total: 9
- Units Below Grade: false
- Units In Building Total: 9
Financing / Income and Expenses
- Electric Expense: $1,026
- Total Expenses: 17868
- Gross Adjusted Income: 0
- Gross Rent Multiplier: 0
- Gross Scheduled Income: $76,417
- Insurance Expense: $5,411
- Net Operating Income: $58,549
- Other Expenses: $0
- Total Monthly Income: 6368
- Fuel Expense: $0
Unit 1
- Name Unit 1: Apt 1
- Washer/Dryer Unit 1: true
- Range/Oven Unit 1: true
- Refrigerator Unit 1: true
- Square Feet Unit 1: 804
- Rent Unit 1: $650.00
- Bedrooms Unit 1: 1
- Bathrooms Unit 1: 1
Unit 2
- Name Unit 2: Apt 2
- Range/Oven Unit 2: true
- Refrigerator Unit 2: true
- Square Feet Unit 2: 804
- Rent Unit 2: $650.00
- Bedrooms Unit 2: 1
- Bathrooms Unit 2: 1
Unit 3
- Name Unit 3: Apt 3
- Washer/Dryer Unit 3: true
- Range/Oven Unit 3: true
- Refrigerator Unit 3: true
- Square Feet Unit 3: 804
- Rent Unit 3: $650.00
- Bedrooms Unit 3: 1
- Bathrooms Unit 3: 1
Unit 4
- Name Unit 4: Commercial
- Washer/Dryer Unit 4: true
- Square Feet Unit 4: 814
- Rent Unit 4: $1,050.00
Unit 5
- Name Unit 5: Commercial
- Square Feet Unit 5: 814
- Rent Unit 5: $1,300.00
Unit 6
- Name Unit 6: Commercial
- Square Feet Unit 6: 814
- Rent Unit 6: $1,050.00
Unit 7
- Name Unit 7: Flex 1
- Square Feet Unit 7: 1200
- Bathrooms Unit 7: 1
Unit 8
- Name Unit 8: Flex 2
- Square Feet Unit 8: 700
Unit 9
- Name Unit 9: Flex 3
- Square Feet Unit 9: 874
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 7638.0
- Leasable Area Units: Square Feet
Property History for 2011 Madison Street
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 2011 Madison Street
Taxable ValueLand$540,200Additions$443,800Total$984,000
Tax Record2022$9,017 ($751 / month)
Home Facts
Total Finished SqFt4,855 SqFtAbove Ground SqFt4,855 SqFtStories2Lot Size26,572 SqFtStyleService StationYear Built1947ZoningF1CountySNOHOMISHAPN00544700501300
Schools near 2011 Madison 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 - | K to 12 |
Rating | School | Distance |
|---|---|---|
Lowell Elementary School PublicPK to 5 | ||
Evergreen Middle School Public6 to 8 | ||
Everett High School Public9 to 12 | ||
Other Schools PublicK 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 expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of Windermere Real Estate Midtown
Listing provided courtesy of NWMLS, RMLS or Yakima MLS. The information contained in this listing has not been verified by Compass or the MLS and should be verified by the buyer. The DOM value represents the number of days this listing has been Active on this website.