New ListingThree units at $125,000 per door. Two 1BR/1BA and one 2BR/1BA, all single-level with private entries on a 7,405 SF lot, minutes from I-5 and downtown Mount Vernon. 100% occupied. The opportunity is the rent gap. In-place rents total $2,575/month. Comparable Mount Vernon one-bedrooms are currently leasing between $1,380 and $1,600. At conservative market rents this property produces $44,400 annually, roughly $13,500 above today, with no change to the building. Self-managed by the same ownership since 2017. Owner pays water, sewer, garbage and common electric; tenants pay in-unit power. Off-street parking, fenced rear yard, single-story construction with no shared stairwells or common corridors. Seller-operated NOI $14,464. Pro forma NOI $26,464.
| MLS # | 2577601 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1950 |
| Days On Site | 5 |
| Listing Provided By | Keller Williams Realty Bothell | Corey Crain |
| SQ Feet | 1,600 |
|---|---|
| Story(s) | 1 |
| Units | 3 |
| Zoning | Multi-Family |
| Acreage | 0.17 |
| Property | 6314 |
|---|
| State | WA |
|---|---|
| County | Skagit |
| City | Mount Vernon |
| Zip Code | 98273 |
| Area | 825 Burlington |
| Community Name | Mount Vernon |
| Listing VS Median (in Mount Vernon) | |
Price: $375,000 low | high Med: $599,925 sqft: 1,600 low | high Med: 1,646 $ / sqft: $234 low | high Med: $365 On site: 5 low | high Med: 57.5 | |
| State | WA |
|---|---|
| County | Skagit |
| City | Mount Vernon |
| Zip Code | 98273 |
| Area | 825 Burlington |
| Community Name | Mount Vernon |
| Listing VS Median (in Mount Vernon) | |
Price: $375,000 low | high Med: $599,925 sqft: 1,600 low | high Med: 1,646 $ / sqft: $234 low | high Med: $365 On site: 5 low | high Med: 57.5 | |