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Listed by:Paragon Real Estate Advisors • Tanner Fogle
$4,850,000
Est. payment /mo
28 Beds
20 Baths
16,240 SqFt
New
7234 47th AVE NE Marysville, WA 98270
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Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 16,240 sqft
Price per Sqft $298
Subdivision North Marysville
MLS Listing ID 2555393
Style 56 - 10+ Units
Bedrooms 28
Year Built 1967
Annual Tax Amount $24,269
Lot Size 0.950 Acres
Property Sub-Type Multi Family
Property Description
The Cove Apartments offers investors a compelling combination of strong in-place cash flow, recent capital improvements, and long-term upside in the growing Marysville market. The property has benefited from significant interior and exterior upgrades, including renovated apartment homes, in-unit washers and dryers in every unit, fresh exterior paint, updated signage, and ample on-site parking, creating a low-maintenance investment that continues to attract tenant demand. Currently operating at a strong 6.91% in-place cap rate, The Cove delivers exceptional day-one returns while offering future rental growth potential. Its functional unit mix, proven operational performance, and recent improvements provide stability and long-term value appreciation. Conveniently located near Interstate 5, State Route 529, and State Route 9, residents enjoy easy access to major employment centers throughout Snohomish County and the greater Seattle area. Supported by strong population growth, expanding infrastructure, limited multifamily supply, and sustained economic investment across the North Puget Sound region, The Cove Apartments represents an outstanding opportunity to acquire a well-positioned, income-producing asset with both immediate cash flow and long-term investment potential.
Location
State WA
County Snohomish
Area 770 - Northwest Snohomish
Interior
Flooring Laminate, Carpet
Fireplace false
Exterior
Exterior Feature Wood Products
View Y/N No
Roof Type Composition
Building
Sewer Available
Water Public
New Construction No
Schools
School District Marysville
Others
Senior Community No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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