Properties Recently Sold
Admiralty Townhomes
$2.8 million
Admiralty Townhomes
5623 186th Pl SW, Lynnwood, WA
11-Unit
The Admiralty Townhomes sold off-market to an all-cash buyer in under a month. The new owner was looking for a value-add deal with oversized units in the competitive Lynnwood market and we delivered. The property consists of eleven 2Bed/1.5Bath townhome style units each with a fireplace, wooden deck off the kitchen and W/D in-unit.
This area of Lynnwood is not far from Highway 99 for convenient shopping and transportation, however it is separated by a thick grove of trees making it considerably more quiet. The new owner plans to gradually renovate the building and push rents to $1,800/month plus a utility billback. Once stabilized, the deal will be operating at a 6.08% cap rate.
Current Cap Rate | 4.74% |
Market Cap Rate | 6.08% |
Built | 1979 |
Price per SqFt | $229 |
Price per Unit | $252,000 |
Listing Agents
Aaron Locke
P: 206.774.5436
E: Email Aaron
Ethan Szmania
P: 206.774.5419
E: Email Ethan