3217 Norton Avenue, Everett, WA 98201
- $1,200,000
- 3,632
- SqFt
Listing courtesy of Columbia Partners Real Estate.
- List Price
- $1,200,000
- Status
- ACTIVE
- MLS#
- 2562974
- Days on Market
- 0
- Style
- 54 - 4-Plex
- Finished SqFt
- 3,632
- Area Total SqFt
- 3632
- Annual Tax Ammount
- 8004
- Lot Size (sq ft)
- 6,098
- Sewer
- Sewer Connected
Property Description
Exceptional value-add opportunity in the heart of Everett! This well-maintained 4-plex in Everett's Norton Grand neighborhood offers an outstanding combination of location, recent capital improvements, and future upside. Ideally situated just minutes from Providence Everett Pacific Campus, Naval Station Everett, the Everett waterfront, downtown Everett, shopping, dining, and transit, the property is well-positioned to attract strong rental demand. The building features three 2-bedroom/1-bath units and one 3-bedroom/1-bath unit, presenting an excellent opportunity for investors or owner-occupants to lease at current market rents. Significant recent improvements include a brand-new sewer line installed in October 2025 from beneath the building to the city connection and freshly painted exterior. Throughout ownership, several units have been tastefully updated with refreshed interior paint, renovated kitchens and bathrooms, and luxury vinyl plank flooring. Additional amenities include a shared laundry room with tenant storage, a four-car carport, and convenient alley access. Further upside exists through operational efficiencies and thoughtful amenity enhancements. Financial information is based on pro forma rents and estimated expenses. Buyers should conduct their own due diligence regarding all projected financial information. Conveniently located within walking distance of downtown Everett, this is an exceptional investment opportunity with immediate and long-term potential!
Additional Information
- List Date
- 2026-07-31 22:58:11
- Community
- Everett
- Net Operating Income
- $59,961
- Gross Adjusted Income
- $85,215
- Gross Scheduled Income
- $89,700
- Insurance Expenses
- $5,822
- Water/Sewer/Garbage Expenses
- $5,506
- Gross Rent Multiplier
- 13.38
- Total Expenses
- $25,254
- Cap Rate
- 5
- Vacancy Rate
- 5
- Total Number of Units
- 4
- Unit Name
- 3217
- Potential Terms
- Cash, Conventional, FHA, VA Loan
- Year Built
- 1963
- View
- See Remarks
- Roof
- Flat, See Remarks, Torch Down
- Electric Expenses
- 1722
- Other Expenses
- 4200
- Energy Source
- Electric
- School District
- Everett
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Buyer To Verify
- Gross Scheduled Income
- $89,700
- Vacancy Rate
- 5
- Gross Adjusted Income
- $85,215
- Tax Year
- 2026
- Insurance Expense
- $5,822
- W/S/G Expenses
- $5,506
- Total Expenses
- $25,254
- Net Operating Income
- $59,961
- Gross Rent Multiplier
- 13.38
- Cap Rate
- 5
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.