For sale by owner: two houses on one parcel, both with stable, long term tenants. Great turnkey investment, cashflow starting Day 1. Solid brick larger house, 2560 SF, 2012 complete basement remodel, 2018 cosmetic upstairs remodel. Cascade mountain views. In an area of rapid redevelopment, and close to amenities / public transportation. Upper and lower floors could easily be split into two legal units (per city--confirm.) Second house is 1BR with carport and utility area. Could be torn down and replaced with 2-unit structure (per city--confirm.) Plenty of off street parking. R3 zoning supports several redevelopment opportunities, including: convert basement to third unit (re-confirm with city, but they said it would work); replace small cottage with 2-unit mountain view townhomes next to brick house; or divide into two tax parcels with a condominium declaration and sell individually (we have a preliminary survey obtained for this a few years ago); etc. This has been a fantastic rental property for our family for many years, but we moved out of state and plan to reinvest closer to home. Hoping to sell to an investor who will consider retaining current tenants. Both are >4 years and prefer to stay on. Larger unit $3236/mo, smaller $1050/mo. Rent subsidized by Snohomish County Housing Authority, paid like clockwork. $51432 gross income, $1371 insurance, $4128 taxes, $3479 water/sewer/garbage (schedule E actuals!) $42454 net operating income, 6.75% cap rate based on today's actual income/expenses. Additional info on request; our fantastic local managers/maintenance team may consider working with new owner. PLEASE DO NOT DISTURB TENANTS OR WALK PROPERTY. SERIOUS INQUIRIES ONLY. Owner voice mail 541-728-6812.
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