Riverside Homes with 55 - 5-9 Units Style

Riverside Homes with 55 - 5-9 Units Style

Welcome to Riverside, a vibrant neighborhood nestled in the heart of Everett, Washington, within the picturesque Snohomish County. Known for its stunning natural beauty and welcoming community spirit, Riverside is an ideal place for those seeking a blend of suburban tranquility and urban convenience.

Riverside is characterized by its charming residential streets, where you'll find an array of homes that beautifully reflect the area's unique architectural style. Among these, homes featuring 5-9 units stand out, offering a perfect opportunity for both families and investors. These multi-family dwellings provide spacious living arrangements, fostering a sense of community while ensuring privacy and comfort. With well-maintained properties and lush green surroundings, residents enjoy a serene environment that feels like a retreat from the hustle and bustle of city life.

The neighborhood boasts a rich selection of parks, recreational facilities, and scenic waterfront views along the Snohomish River, making it an outdoor enthusiast's paradise. Families appreciate the nearby schools, which are known for their commitment to excellence, while local shops and eateries add to the neighborhood's charm, providing a delightful array of options for dining and entertainment.

Riverside is conveniently located with easy access to major highways, making commutes to Seattle and other nearby cities a breeze. Whether you're looking for a cozy home to raise a family or an investment opportunity in a thriving community, Riverside offers a unique blend of comfort, accessibility, and natural beauty. Discover your new home in Riverside today and experience the warmth of this exceptional neighborhood!

Newest Riverside Homes with 55 - 5-9 Units Style

$1,150,000
2547331 MLS ⋅ ACTIVE Status
Opportunity to acquire a professionally managed, turnkey, two-building, five-unit multifamily investment on a single tax parcel in the Riverside neighborhood of North Everett. The offering consists of a two-story triplex fronting Baker Avenue and a duplex accessed via Fulton Avenue. Both buildings are well maintained and feature upgraded double pane vinyl windows, new roofs as well as lots of plumbing upgrades. 3 of the 5 units are renovated with new kitchens, bathrooms, flooring and paint. Tenants are professionally screened and have an exceptional history of on-time payments with virtually zero delinquency. Current cap rate of 6.18% with pro forma upside to 6.88% or beyond as below-market units are brought to current rents — providing a turnkey property with some value add potential. Strong Everett rental fundamentals backed by Boeing, Naval Station Everett, Amazon, and a robust health care economy. Gross rental income of $91,884 annually with pro forma income of $100,200 or more depending on what extent of upgrades are performed on the two unrenovated units.

2519 Baker Avenue, Everett

Listing courtesy of Opal Blue Real Estate, LLC.

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