101 Alder Ave, Snohomish, WA
Foundation Group is pleased to exclusively bring to market 101 Alder St Apartments, situated in the heart of downtown Snohomish. This is the first time the 10 unit has been available for purchase, being built and held by the original developer since 1988. Current ownership has meticulously maintained the building exterior and grounds but has left most of the interior finishes original; making this a desirable value-add opportunity. These large units are a perfect canvas for significant value-add improvements.
Notably, eight out of the ten units could be reconfigured to add a second three quarter bath within the current floor-plan. Seasoned investors will see upside in the storage spaces and the opportunity to bill-back tenants with the RUBS system as a significant value-add component. Located in the coveted Seattle suburb, the City of Snohomish is located on the Snohomish River, southeast of Everett and northwest of Monroe. Snohomish sits at the intersection of US Route 2 & State Route 9. The historic downtown district is renowned for its collection of antique shops.