For more information on this listing, please contact...
Vince Decker
425-422-1290
Email
  • Listing #:
    • 1688685
  • Price:
    • $10,500,000
  • Status:
    • Active
  • Property Type:
    • Multi-Family
  • Type:
    • 10+ Units
  • # of Units:
    • 5
  • # of Acres:
    • 3.22
  • Year Built:
    • 1968
  • Address:
    • 1805 Filbert Road
  • Comm/Assn:
    • Alderwood Manor
  • City:
    • Lynnwood
  • County:
    • Snohomish
  • State:
    • WA
  • Zip:
    • 98036
  • Right of 1st Refusal:
    • No
QR Code

Description
The Foundation Group Presents The Timber Grove Apartments, A 48-unit Apartment Community Built In 1968 And Situated On 3.2 Acres Of Lush, Wooded Area. The Apartments Were Rebranded With New Signage And Exterior Updates In 2019. Significant Interior Renovations Started In 2019/2020 With A Focus On Tenant Comfort Which Accentuate The Large And Livable Units With Oversized Closets, Spacious Bedrooms, And Naturally, Well-lit Living Rooms. Tenants Are Greeted Daily By Towering Trees That Make For An Enchanting Park-like Setting For This Apartment Community. Construction Is In Full Swing At The Lynnwood/alderwood Mall Light Rail Station Which Is Only About 2.3 Miles Away And Will Be Ready For Passenger Travel In 2024.
Property Features
  • Cap Rate:
    • - 5.1
  • Carport Spaces:
    • - 40
  • Exterior Features:
    • - Wood
  • Flooring:
    • - Laminate
    • - Laminate
    • - Carpet
  • Foundation Details:
    • - Slab
  • Furnished:
    • - Unfurnished
  • Gross Scheduled Income:
    • - $781,007.00
  • Heating Y/N:
    • - Yes
  • Insurance Expense:
    • - $11,682.00
  • Interior Features:
    • - Laminate
  • Leasable Area:
    • - 31,800.00 Square Feet
  • Net Operating Income:
    • - $541,639.00
  • Amenities:
    • - Coin Op Laundry
  • Gross Adjusted Income:
    • - 757577
  • Gross Rent Multiplier:
    • - 14
  • Heating Cooling Type:
    • - Baseboard
  • Leased Items:
    • - Washer/Dryer
  • Parking Uncovered Spaces:
    • - 40
  • Style Code:
    • - 56 - 10+ Units
  • Total Expenses:
    • - 213537
  • Total Monthly Income:
    • - 65084
  • Units Below Grade:
    • - false
  • Vacancy Rate:
    • - 3
  • Water Sewer Garbage:
    • - 26479
  • Zoning Class:
    • - Multi-Family
  • Zoning Jurisdiction:
    • - City
  • Open Parking Spaces:
    • - 40
  • Open Parking Y/N:
    • - Yes
  • Other Expense:
    • - 97681
  • Parcel Number:
    • - 00372800802502
  • Possible Use:
    • - Multi-Family
  • Property Condition:
    • - Good
  • Roof:
    • - Flat
  • Sewer:
    • - Septic Tank
  • Stories Total:
    • - 2
  • Structure Type:
    • - Multi Family
  • Annual Tax Amount:
    • - $77,695.00
  • Tax Year:
    • - 2020
  • Utilities:
    • - Septic
    • - Electricity Available
  • Water Source:
    • - Public
Nearby Listings
2.95 Mi.

2615 180th Street SE

  • 0 Bedrooms
  • 0.00 Bathrooms
  • 3,763 ft²
3.88 Mi.

21125 78th Street SW

  • 0 Bedrooms
  • 0.00 Bathrooms
  • 3,600 ft²
4.31 Mi.

19671 15th Avenue NE

  • 0 Bedrooms
  • 0.00 Bathrooms
  • 3,014 ft²
For more information on this listing, please contact...
Vince Decker
425-422-1290
Email

All information deemed reliable but not guaranteed and should be verified by consumer. All properties are subject to prior sale, change or withdrawal. Listing information is provided for consumer's personal, non-commercial use and may not be used for any other purpose. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange (IDX) programs of the Northwest Multiple Listing Service and/or the Olympic Multiple Listing Service.

Copyright Notice

Listings courtesy of the NWMLS (Northwest Multiple Listing Service).

MLS IDX by Cevado Technologies