285 18th Street, Lynden, WA 98264

$1,600,000

Listing courtesy of HomeSmart One Realty. Selling Office: Rockwood Realty.

Sold Price
$1,600,000
List Price
$1,650,000
Status
SOLD
MLS#
1077638
Closing Date
Sep 22, 2017
Days on Market
156
Style
55 - 5-9 Units
Building Condition
Under Construction
Annual Tax Ammount
9880
Lot Size (sq ft)
40,511
Sewer
Sewer Connected

Property Description

Great Investment Opportunity! 8 unit (2 four-plexes)new apartment construction right across the street from the Fairway Center. Walk to bus stop, coffee shops, and many other stores and restaurants. Three 3 bedroom units, five 2 bedroom units and one 1 bedroom unit. Beautifully finished with granite counter-tops and and washer and dryers in units. Backs up to Fish Trap Creek in a beautiful a park like setting. Currently under construction with an estimated completion date of July 2017.

Additional Information

List Date
2017-04-19 00:00:00
Community
Lynden
Net Operating Income
$100,320
Gross Adjusted Income
$100,320
Gross Scheduled Income
$122,400
Total Monthly Income
$10,200
Insurance Expenses
$1,800
Water/Sewer/Garbage Expenses
$9,400
Gross Rent Multiplier
14
Total Expenses
$22,080
Cap Rate
6
Total Number of Units
8
Unit Name
285
Potential Terms
Cash Out, Conventional
Year Built
2017
Waterfront
Yes
View
See Remarks, Territorial
Roof
Composition
Site Features
Cable TV, High Speed Internet, Sprinkler System
Other Expenses
1000
School District
Lynden
Total Monthly Income
$10,200
Gross Scheduled Income
$122,400
Gross Adjusted Income
$100,320
Tax Year
2018
Insurance Expense
$1,800
W/S/G Expenses
$9,400
Total Expenses
$22,080
Net Operating Income
$100,320
Gross Rent Multiplier
14
Cap Rate
6
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