2023 Colby Avenue
2023 Colby Avenue
Everett, WA 98201
$900,000
Price
3
Beds
8
Baths
2,667 Sq. Ft.
$337 / Sq. Ft.
2,667
Sq. Ft.
$337
per Sq. Ft.
Virtual Tour
Virtual Tour
Listing provided courtesy of Westlake Associates, Inc.
Description
9%+ Cap Rate! Located in the heart of Everett’s residential Bayside neighborhood, this non-conforming 8 unit offers an active investor a strong cash flow return. The proximity to major employers makes the location very attractive. Four (4) of the five (5) studio units are fully furnished. Common laundry is on site and coin-operated and the garage could be rented out for additional income. Freshly painted in 2023 and roof is roughly 3-4 years old.9%+ Cap Rate! Located in the heart of Everett’s residential Bayside neighborhood, this non-conforming 8 unit offers an active investor a strong cash flow return. The proximity to major employers makes the location very attractive. Four (4) of the five (5) studio units are fully furnished. Common laundry is on site and coin-operated and the garage could be rented out for additional income. Freshly painted in 2023 and roof is roughly 3-4 years old.
- Listed by Travis Kannier • Westlake Associates, Inc.
- Listed by Matthew Weber • Westlake Associates, Inc.
Property Details for 2023 Colby Avenue
Community Name
Rucker Hill
School DistrictEverett
Number of Assigned Spaces1
Total Covered Parking1
Entry Date12-15-2023
Energy SourceElectric
SewerAvailable
Location
Listing Courtesy of Westlake Associates, Inc.![]()
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LISTING UPDATED: 04/08/2024 12:02 PM
Property Details for 2023 Colby Avenue
| Status | Active |
|---|---|
| MLS # | 2186150 |
| Days on Market | 134 |
| Cumulative Days on Market | 134 |
| Taxes | $6,703 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1910 |
| Lot Size | 0.13 AC / 5,663 SF |
| County | Snohomish County |
Location
Listing Courtesy of Westlake Associates, Inc.![]()
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Building Information for 2023 Colby Avenue
Stories2Residences8Year Built1910Building Size-Lot Size0.13 AC / 5,663 SF
Payment Calculator
$5,470 per month
30 year fixed, 7.25% Interest
Principal and Interest
$4,912
Property Taxes
$559
HOA Dues
$0
The Payment Calculator is for illustrative purposes only.
Property Information for 2023 Colby Avenue
Summary
Location and General Information
- Style: 55 - 5-9 Units
- Area: 740 - Everett/Mukilteo
- Directions: On I-5 N, take exit 192 to Broadway. Turn left onto 23rd St. Turn right onto Colby Ave heading north. Site is on the right.
- Leased Items: None
- Property Sub Type: MULT
- View: No
- Waterfront: No
Taxes and HOA Information
- Tax Year: 2023
Parking
- Number of Carport Spaces: 0.0
- Carport: No
- Open Parking Spaces: 0.0
- Open Parking: No
Virtual Tour
- Virtual Tour URL Unbranded: https://my.matterport.com/show/?m=7ikiQZ2gsyK
- Virtual Tour URL Description: Matterport Tour - APT 2 & APT 6
Interior and Exterior Features
Interior Features
- Floor Covering: Laminate, Vinyl Plank, Carpet
- Features: Wall to Wall Carpet, Laminate Tile, Laminate Hardwood
- Cooling: No
- Cooling: None
- Fireplace: No
- Heating: Yes
- Heating: Baseboard
Exterior Features
- Exterior: Wood
- Roof: Composition
Property
Utilities
- Water/Sewer/Garbage: 6660
- Power Production Type: Electric
Property and Assessments
- New Construction YN: No
- Zoning Jurisdiction: City
- Zoning Class: Multi-Family,Residential
- First Right Of Refusal: false
- Possible Use: Multi-Family, Residential
- MLS Square Footage Source: Snohomish County
- Preliminary Title Ordered: Yes
- Senior Community: No
- Special Listing Conditions: None
- Photos Count: 32
Lot Information
- Lot Size Source: Snohomish County
- Parcel Number Free Text: 00437042401100
- Calculated Square Footage: 2667
- Structure Type: Multi Family
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 2667.0
- Building Area Units: Square Feet
- Property Type: Residential Income
- Elevation Units: Feet
- Irrigation Water Rights: No
Multi Family
Building Details
- Number of Uncovered Spaces: 0
- Number of Stories in Building: 2
- Vacancy Rate: 5
- Number Of Units Total: 8
- Units Below Grade: false
- Units In Building Total: 8
Financing / Income and Expenses
- Electric Expense: $0
- Total Expenses: 25658
- Gross Adjusted Income: 104766
- Gross Rent Multiplier: 8.16
- Gross Scheduled Income: $110,280
- Insurance Expense: $4,495
- Net Operating Income: $79,108
- Other Expenses: $7,800
- Total Monthly Income: 9190
- Fuel Expense: $0
Unit 1
- Name Unit 1: 8
- Square Feet Unit 1: 281
- Rent Unit 1: $1,125.00
- Bedrooms Unit 1: 0
- Bathrooms Unit 1: 1
Unit 2
- Name Unit 2: 7
- Square Feet Unit 2: 482
- Rent Unit 2: $1,400.00
- Bedrooms Unit 2: 1
- Bathrooms Unit 2: 1
Unit 3
- Name Unit 3: 6
- Square Feet Unit 3: 100
- Rent Unit 3: $750.00
- Bedrooms Unit 3: 0
- Bathrooms Unit 3: 1
Unit 4
- Name Unit 4: 5
- Square Feet Unit 4: 456
- Rent Unit 4: $900.00
- Bedrooms Unit 4: 1
- Bathrooms Unit 4: 1
Unit 5
- Name Unit 5: 4
- Square Feet Unit 5: 654
- Rent Unit 5: $1,450.00
- Bedrooms Unit 5: 1
- Bathrooms Unit 5: 1
Unit 6
- Name Unit 6: 3
- Square Feet Unit 6: 110
- Rent Unit 6: $1,180.00
- Bedrooms Unit 6: 0
- Bathrooms Unit 6: 1
Unit 7
- Name Unit 7: 2
- Square Feet Unit 7: 270
- Rent Unit 7: $1,200.00
- Bedrooms Unit 7: 0
- Bathrooms Unit 7: 1
Unit 8
- Name Unit 8: 1
- Square Feet Unit 8: 314
- Rent Unit 8: $1,185.00
- Bedrooms Unit 8: 0
- Bathrooms Unit 8: 1
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 2667.0
- Leasable Area Units: Square Feet
Property History for 2023 Colby Avenue
| 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 2023 Colby Avenue
Taxable ValueLand$205,000Additions$389,000Total$594,000
Tax Record2022$5,439 ($453 / month)
Home Facts
Baths4Total Finished SqFt2,741 SqFtAbove Ground SqFt2,167 SqFtFinished Basement SqFt574 SqFtUnfinished Basement Area1,179 SqFtStories2Lot Size5,663 SqFtStyleMulti-Family Dwelling (2-4)Year Built1910ZoningFPCountySNOHOMISHAPN00437042401100Fireplace TypeHas Fireplace
Schools near 2023 Colby Avenue
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 - | 7 to 12 |
Rating | School | Distance |
|---|---|---|
Hawthorne Elementary School PublicPK to 5 | ||
North Middle School Public6 to 8 | ||
Everett High School Public9 to 12 | ||
Sno Co Jail Public7 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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Listing Courtesy of Westlake Associates, Inc.
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.