2302 East College Way
2302 East College Way
Mount Vernon, WA 98273
$1,450,000
Price
6
Beds
3
Baths
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.
Listing provided courtesy of Brown McMillen Real Estate
Description
This is a unique opportunity to develop multi-unit housing right across from Skagit Valley College. The property currently has three houses that generate rental income, while you can plan the property's highest and best use. The city of Mt. Vernon encourages the development of multi-story units, retail spaces, and mixed-use buildings such as apartments. There is a sewer line located across the back third of the property.This is a unique opportunity to develop multi-unit housing right across from Skagit Valley College. The property currently has three houses that generate rental income, while you can plan the property's highest and best use. The city of Mt. Vernon encourages the development of multi-story units, retail spaces, and mixed-use buildings such as apartments. There is a sewer line located across the back third of the property.
- Listed by Ron L Wortham • Brown McMillen Real Estate
Property Details for 2302 East College Way
Community Name
Mount Vernon
School DistrictMount Vernon
ViewTerritorial
Number of Assigned Spaces0
Total Covered Parking0
Entry Date04-24-2024
Energy SourceElectric,Natural Gas
SewerSewer Connected
Location
Listing Courtesy of Brown McMillen Real Estate![]()
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LISTING UPDATED: 04/30/2024 01:39 PM
Property Details for 2302 East College Way
| Status | Active |
|---|---|
| MLS # | 2227916 |
| Days on Market | 10 |
| Cumulative Days on Market | 9 |
| Taxes | $12,903 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1956 |
| Lot Size | 1.45 AC / 63,162 SF |
| County | Skagit County |
Location
Listing Courtesy of Brown McMillen Real Estate![]()
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Building Information for 2302 East College Way
Stories1Residences3Year Built1956Building Size-Lot Size1.45 AC / 63,162 SF
Payment Calculator
$8,988 per month
30 year fixed, 7.25% Interest
Principal and Interest
$7,913
Property Taxes
$1,075
HOA Dues
$0
The Payment Calculator is for illustrative purposes only.
Property Information for 2302 East College Way
Summary
Location and General Information
- Style: 55 - 5-9 Units
- Site Features: Gas Available
- Area: 835 - Mount Vernon
- Elementary School: Buyer To Verify
- Middle Or Junior School: Buyer To Verify
- High School: Buyer To Verify
- Directions: East on College Way, Right past McDonalds. On the Right. 3 houses in a row.
- Leased Items: None
- Property Sub Type: MULT
- View: Yes
- Waterfront: No
Taxes and HOA Information
- Tax Year: 2024
Parking
- Number of Carport Spaces: 0.0
- Carport: No
- Open Parking Spaces: 0.0
- Open Parking: No
Interior and Exterior Features
Interior Features
- Floor Covering: Laminate, Vinyl
- Features: Laminate
- Amenities: Thermal Windows
- Cooling: No
- Cooling: None
- Fireplace: No
- Heating: Yes
- Heating: Baseboard, Forced Air
- FIRPTA: No
Exterior Features
- Exterior: Wood
- Roof: Composition
Property
Utilities
- Water Source: Public
- Water/Sewer/Garbage: 5748
- Power Company: PSE
- Sewer Company: City of Mount Vernon
- Water Company: PUD
- Power Production Type: Electric, Natural Gas
Property and Assessments
- New Construction YN: No
- Zoning Jurisdiction: City
- Foundation: Poured Concrete
- Zoning Class: Business,Multi-Family,Residential,See Remarks
- First Right Of Refusal: false
- Possible Use: Business, Multi-Family, Residential, See Remarks
- Preliminary Title Ordered: Yes
- Senior Community: No
- Special Listing Conditions: None
- Photos Count: 3
Lot Information
- Lot Details: Paved
- Lot Number: 1,2,3
- Lot Size Source: County
- Parcel Number Free Text: P24953
- Building Condition: Average
- Calculated Square Footage: 0
- Structure Type: Multi Family
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 0.0
- 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: 0
- Number of Stories in Building: 1
- Vacancy Rate: 0
- Number Of Units Total: 3
- Units Below Grade: false
Financing / Income and Expenses
- Electric Expense: $0
- Total Expenses: 25475
- Gross Adjusted Income: 0
- Gross Rent Multiplier: 0
- Gross Scheduled Income: $44,100
- Insurance Expense: $2,414
- Net Operating Income: $18,625
- Other Expenses: $4,410
- Total Monthly Income: 44100
- Fuel Expense: $0
Unit 1
- Name Unit 1: 2302
- Washer/Dryer Unit 1: true
- Range/Oven Unit 1: true
- Refrigerator Unit 1: true
- Dishwasher Unit 1: false
- Square Feet Unit 1: 1479
- Rent Unit 1: $1,200.00
- Bedrooms Unit 1: 2
- Fireplaces Unit 1: 0
- Bathrooms Unit 1: 1
Unit 2
- Name Unit 2: 2308
- Washer/Dryer Unit 2: true
- Range/Oven Unit 2: true
- Refrigerator Unit 2: true
- Dishwasher Unit 2: true
- Square Feet Unit 2: 942
- Rent Unit 2: $1,300.00
- Bedrooms Unit 2: 2
- Fireplaces Unit 2: 0
- Bathrooms Unit 2: 1
Unit 3
- Name Unit 3: 2312
- Washer/Dryer Unit 3: true
- Range/Oven Unit 3: true
- Refrigerator Unit 3: true
- Dishwasher Unit 3: false
- Square Feet Unit 3: 894
- Rent Unit 3: $1,175.00
- Bedrooms Unit 3: 2
- Fireplaces Unit 3: 0
- Bathrooms Unit 3: 1
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 0.0
- Leasable Area Units: Square Feet
Property History for 2302 East College Way
| 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 2302 East College Way
Taxable ValueLand$123,600Additions$192,800Total$316,400
Tax Record2022$3,713 ($309 / month)
Home Facts
Beds2Baths1Total Finished SqFt1,479 SqFtAbove Ground SqFt1,479 SqFtStories1Lot Size9,583 SqFtStyleSingle Family ResidenceYear Built1956Year Renovated1993CountySKAGITAPN340416-3-037-0005Fireplace TypeHas Fireplace
Schools near 2302 East College Way
This home is within Mount Vernon School District.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 10 to 12 |
Rating | School | Distance |
|---|---|---|
Madison Elementary School PublicK to 5 | ||
Mount Baker Middle School Public6 to 8 | ||
Mount Vernon High School Public9 to 12 | ||
Mount Vernon Open Doors Public10 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 Brown McMillen Real Estate
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.