The Cove
7234 47th Ave NE Marysville, WA 98270
Property Type Multi-family
Price $4,850,000
Status Active
Property Highlights:
- Currently operating at an attractive 6.91% in-place capitalization rate, providing immediate cash flow from day one.
- Multiple apartment homes have received interior renovations, enhanced resident appeal and supporting future rent growth.
- Every unit has been upgraded with an in-unit washer and dryer, a highly desirable amenity that drives tenant retention and rental demand.
- Ownership has invested in fresh exterior paint and new monument signage, improving curb appeal and reinforcing the property’s market presence.
- The property offers abundant off-street parking, providing convenience for residents and a competitive advantage within the submarket.
- The property is professionally operated and generates meaningful ancillary income, providing new ownership with immediate additional cash flow beyond rental revenue.
- Extensive recent interior and exterior improvements significantly reduce the need for near-term capital expenditures, allowing new ownership to focus on maximizing operations and cash flow from day one.
- Conveniently located near Interstate 5, State Route 529, and State Route 9, offering quick access to major employment centers, retail, and everyday amenities throughout Snohomish County.
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