2232 Hoyt Avenue, Everett, WA 98201
- $1,195,000
- 3,070
- SqFt
Listing courtesy of Opal Blue Real Estate, LLC.
- List Price
- $1,195,000
- Status
- ACTIVE
- MLS#
- 2547568
- Days on Market
- 29
- Style
- 55 - 5-9 Units
- Building Condition
- Good
- Finished SqFt
- 3,070
- Area Total SqFt
- 3070
- Annual Tax Ammount
- 6003
- Lot Size (sq ft)
- 6,098
- Sewer
- Sewer Connected
Property Description
Opportunity to acquire a well-maintained, professionally managed, five-unit multifamily investment in the desirable Bayside neighborhood of North Everett — just blocks from the Everett Waterfront, and walking distance to Grand Ave Park and Downtown. The building sits on a corner lot, includes a stand-alone two-car garage and boasts amazing views from the top 2 floors. Tenants are professionally screened and have an exceptional history of on-time payments with virtually zero delinquency. The current ownership group has invested nearly $250,000 in capital improvements in the building including all-new double-pane windows, new roof, full exterior paint, extensive PEX plumbing upgrades and complete remodels of Units 1, 2, 3, and 4. The result is a largely turnkey asset in a high-demand rental corridor supported by Boeing, Naval Station Everett, Amazon, and a growing healthcare economy. Current cap rate of 6.26% with pro forma upside to 6.83% as the one remaining unrenovated unit is brought to market. Gross rental income of $96,360 annually with pro forma income of $103,260 or more. Great opportunity to capitalize on one of the highest demand housing markets in Everett.
Additional Information
- List Date
- 2026-06-29 19:07:13
- Community
- Downtown
- Net Operating Income
- $74,815
- Gross Adjusted Income
- $94,433
- Gross Scheduled Income
- $96,360
- Total Monthly Income
- $8,605
- Insurance Expenses
- $2,449
- Water/Sewer/Garbage Expenses
- $6,166
- Gross Rent Multiplier
- 12.65
- Total Expenses
- $19,618
- Cap Rate
- 6.26
- Vacancy Rate
- 2
- Total Number of Units
- 5
- Unit Name
- 2232
- Potential Terms
- Cash, Farm Home Loan
- Year Built
- 1905
- View
- Bay, City, Islands, Jetty, Mountains, Ocean, Sea, Territorial
- Roof
- Composition, Flat
- Site Features
- Fenced-Partially, Outbuildings
- Other Expenses
- 5000
- Energy Source
- Electric, Natural Gas
- School District
- Everett
- Total Monthly Income
- $8,605
- Gross Scheduled Income
- $96,360
- Vacancy Rate
- 2
- Gross Adjusted Income
- $94,433
- Tax Year
- 2026
- Insurance Expense
- $2,449
- W/S/G Expenses
- $6,166
- Total Expenses
- $19,618
- Net Operating Income
- $74,815
- Gross Rent Multiplier
- 12.65
- Cap Rate
- 6.26
Based on information submitted to the MLS GRID as of . 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.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.