Property Details

MU15 development site in Downtown Everett with dual-stream holding income.1915 & 1917 Broadway is a rare covered land play in Everett, WA — a compact urban infill site carrying one of Downtown Everett's highest density allowances, with in-place rental income to offset the hold.Development Potential. Zoned MU15 under the Everett Unified Development Code, permitting development up to 15 floors / 160 feet (EMC 19.22.020, Table 22-1) — exceeded only by the MU25 core. Everett is projected to add roughly 60,000 residents over the next two decades, and the Metro Everett subarea plan targets Downtown Everett for the bulk of that growth. This is a mixed-use development site positioned for multifamily, hotel, office, or ground-floor retail on the Broadway corridor.Income in Place. Two buildings approx . 2850 sf building, sits on ±6098 square feet lot, generate dual-stream rental income — a street-front retail tenant plus a residential apartment at the rear — producing $68,700 in total annual income against $11,953 in expenses, for an NOI of $56,747 (4.73% cap rate) at the $1,200,000 asking price. Real estate taxes are $6,648 (2025). That income allows an incoming investor or developer to offset carrying costs and maintain consistent cash flow while finalizing architectural plans, engineering, and municipal approvals — rather than paying to sit on vacant dirt.Location. Broadway is one of Everett's principal north-south commercial corridors, minutes from Everett Station — Snohomish County's hub for Sounder commuter rail and Amtrak — with direct I-5 access and Downtown Everett's civic and employment core close at hand. Building signage on Broadway. Possession at close of escrow.Asking Price: $1,200,000