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Listing Provided Courtesy Of:
Keller Williams Eastside and NWMLS
Address
7221 196th Street SW Lynnwood, WA
Price
$ 13,500,000
Property Attributes
  • ID#1759818
  • TypeMulti-Family
  • CountySNOHOMISH
  • CityLynnwood
  • AreaSouthwest Snohom
  • NeighborhoodLynnwood
  • Zip98036
  • Style10+ Units
  • Year Built1991
  • Taxes110851
  • Price$ 13,500,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage51311
  • Lot Size2.77 Acres
Listing Provided Courtesy Of:
Keller Williams Eastside and NWMLS
Data Source:
NWMLS
Property Description

The Edgewood North apartments are a rare opportunity to acquire a solid real estate investment with significant upside potential. All 46 units are presently rented. Convenient location for north, south, and east commutes and very close to Edmonds CC. Buildings A - D were built in 1991 and are predominantly 2 bed/2 bath flats. Buildings E - G were built in 1998 and are slightly larger townhome-style units. In 2020, several units were upgraded with paint, LVP, carpet, white cabinets, stainless appliances, and trim for an instant 15-20% increase in rent. This creates a PROVEN opportunity for upgrades, to substantially increase the value of the investment. 2011 roofs, 2012 decks, 2020 exterior staircases/railings - hard parts are already done!

Price History
4/19/2021 Listed $13,500,000

General Features

Buildingareaunits Square Feet
Carport Spaces 37
Carport Y/N No
Exterior Features Metal/Vinyl, See Remarks
Flooring Ceramic Tile, Vinyl, Vinyl Plank, Carpet
High School District Edmonds
New Construction No
Open Parking Spaces 40
Possible Use Multi-Family
Property SubType Multi-Family
Property Type Residential Income
Roof Composition
Sewer Sewer Connected
Standard Status Active
Structure Type Multi Family
Subdivision Name Lynnwood
Tax Annual Amount 110851
Terms Cash Out, Conventional
Total Units 46
Units Below Grade false
Units In Building Total 46
View Territorial

Interior Features

Electric On Property Y/N No
Fireplace Y/N No
Furnished Y/N Unfurnished
Heating Y/N Yes
Power Production Type Electric, Natural Gas

Exterior Features

Building Area Total 51311
Covered Spaces 16
Foundation Details Poured Concrete
Lot Features Paved, Sidewalk
Lot Size Acres 2.77
Lot Size Square Feet 120661
Lot Size Units Square Feet
Open Parking Y/N Yes
Parking Uncovered Spaces 40
Site Features Athletic Court, Deck, Fenced-Partially
Total Parking 93
View Y/N Yes
Water Source Public
Waterfront Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 98036

Price
AVG $7.1M
$13.5M
Taxes
AVG $58,044
$110,851
Visits
AVG 15
27
Year Built
AVG 1974
1991
Walkscore
AVG 76
76
Data Provided by Walkscore ® not using MLS data

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