Properties Sold

Monroe 4-Unit
$900,000

Monroe 4
600 W Elizabeth St, Monroe, WA
4-Unit

 

The Monroe 4-unit consists of four 2Bed/1Bath units at 935 SqFt.  Two of the units have been renovated and are fetching $1,500/month.  The remaining two units have tired interiors, but are poised for slight upgrades to the kitchens, bathrooms, and flooring throughout.  An investor could achieve a true 7.0%+ cap rate on the market side if units are updated.  We have sold three buildings in Monroe and the rent growth is staggering.  Hard rental data supports rents at or above $1,650 with a utility billback.  

 

Current Cap Rate5.23%
Market Cap Rate7.49%
Built1967
Price per SqFt$241

 

 

Listing Agents

Aaron Locke
P: 206.774.5436
E: Email Aaron

Ethan Szmania
P: 206.774.5419
E: Email Ethan

Seattle Commercial Real Estate Brokerage With a Difference!