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Listed by:Keller Williams Realty Bothell • Corey Crain
$ 375,000
Est. payment /mo
Pending
49 Willow LN Mount Vernon, WA 98273
4 Beds
3 Baths
1,600 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Pending
Purchase Type For Sale
Square Footage 1,600 sqft
Price per Sqft $234
Subdivision Mount Vernon
MLS Listing ID 2577601
Style 53 - Tri-plex
Bedrooms 4
Year Built 1950
Annual Tax Amount $6,314
Lot Size 7,405 Sqft
Property Sub-Type Multi Family
Property Description
Three units at $125,000 per door. Two 1BR/1BA and one 2BR/1BA, all single-level with private entries on a 7,405 SF lot, minutes from I-5 and downtown Mount Vernon. 100% occupied. The opportunity is the rent gap. In-place rents total $2,575/month. Comparable Mount Vernon one-bedrooms are currently leasing between $1,380 and $1,600. At conservative market rents this property produces $44,400 annually, roughly $13,500 above today, with no change to the building. Self-managed by the same ownership since 2017. Owner pays water, sewer, garbage and common electric; tenants pay in-unit power. Off-street parking, fenced rear yard, single-story construction with no shared stairwells or common corridors. Seller-operated NOI $14,464. Pro forma NOI $26,464.
Location
State WA
County Skagit
Area 825 - Burlington
Interior
Flooring Vinyl, Carpet
Fireplace false
Exterior
Exterior Feature Wood
View Y/N No
Roof Type Composition
Building
Sewer Sewer Connected
Water Public
New Construction No
Schools
School District Mount Vernon
Others
Senior Community No
Acceptable Financing Cash, Conventional, Farm Home Loan
Listing Terms Cash, Conventional, Farm Home Loan
"Three Trees" icon indicates a listing provided courtesy of NWMLS.