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4113 156th St SW
Lynnwood, WA 98087 Picnic Point-North Lynnwood

$9,550,000 USD

Apartments For Sale • 33,212 SF

Property Details

Property Type Apartments
Total Building Size 33,212 SF
Lot Size 1.66 AC
Building Class C
Year Built 1985
Zoning MR, Lynnwood

0 Transit Score

63 Walk Score

                
                    Highlights
                
                                Favorable Operating Environment - Location in Snohomish County accesses favorable landlord-tenant legislation
                            
                                Operational Value-Add Opportunity - Current Operations leave a tremendous amount of meat on the bone in reducing economic vacancy
                            
                                Attractive Return Metrics - 7.16% adjusted cap rate and 8.34% average cash yield
                            
                                Strong Unit Mix - Nearly all two-bedroom units with a dedicated laundry room in each unit
                            
                                Recent Capital Improvement - Roofs were replaced in 2020 and many windows replaced with vinyl
                            
                                Excellent Proximity to Major Employers and Attractions • 9 minutes to Alderwood Mall • 11 minutes to Lynnwood Light Rail Station – Just opened to tran

Amenities

Balcony
Dishwasher
Fenced Lot
Fireplace
Property Manager on Site
Washer/Dryer Hookup
Recycling
Kitchen
Refrigerator
Oven
Range
Tub/Shower
Porch

Public Transportation

Commuter Rail	Drive	Walk	Distance
Edmonds Station (Sounder South Line - Central Puget Sound Regional Transit Authority Rail (Link Light Rail/Sounder))	15 min	-	6.8 mi
Mukilteo Station (Sounder South Line - Central Puget Sound Regional Transit Authority Rail (Link Light Rail/Sounder))	15 min	-	7.7 mi
Airport	Drive	Walk	Distance
Seattle Paine Field International	9 min	-	4.7 mi
Seattle-Tacoma International	49 min	-	32.6 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	60
Type:	Surface
Included in Rent:	Yes

Zac Mazzuca 206-826-5731 Marcus & Millichap

4113 156th St SW Lynnwood, WA 98087 Picnic Point-North Lynnwood