6511 Armar Rd - Apartments FOR SALE


Marysville, WA 98270
$3,100,000 USD
206-333-4116
6511 Armar Rd, Marysville, WA for Sale
$3,100,000 USD
Apartments - FOR SALE
1/23
null | 6.06% Cap Rate

6511 Armar Rd
Marysville, WA 98270


HIGHLIGHTS

  • 11 townhome units with value add potential in a suburban neighborhood.
  • Potential to increase NOI through management or partial renovation.
  • Large townhomes style units averaging 1134 SF.
  • 1 mile from I5 corridor and 4 miles from downtown Everett.
  • Median household income of $88,000 and 40,000 jobs within a 5-mile radius.

OVERVIEW

We are pleased to present The Armar in Marysville, WA. This 1968 vintage asset features 11 large, partially renovated townhome units averaging 1134 SF. There are 10, 2-bedroom 1.5-bathroom units and 1, 2-bedroom 1-bathroom unit. Unit interiors feature value add potential with laminated vinyl plank flooring, new lighting fixtures, and refaced cabinets. There is potential to increase the in-place NOI by capturing a 13% delta between current and market rents. Residents of The Armar are able to enjoy the calm suburban location while being within 1 mile of Marysville’s downtown and a short 4 mile commute away from Everett. The property also provides easy access to many outdoor activities in the Cascade Mountain Range to the east and the Puget Sound to the west. The Armar provides an excellent opportunity for an investor to acquire a stabilized asset with large units in a landlord friendly submarket.

FOR SALE DETAILS

PRICE

$3,100,000 USD

PRICE/SF

$291 USD /SF

# OF UNITS

11

PRICE/UNIT

$281,818

CAP RATE

6.06%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Armar

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1968

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.68 AC

LAND SF

29,621 SF

ZONING

R6.5 SFH, Marysville

APN/PARCEL ID

300528-004-021-00

ASK ABOUT THIS PROPERTY

Brendan GreenheckNorthmarqMore Info
206-333-4116

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Brendan GreenheckNorthmarqMore Info
206-333-4116

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.