Property Details

2414 Hoyt Ave

Everett, WA 98201

$2,695,000

Available

CBA# 702574 courtesy of CBA Listing firm: Capstone Commercial Real Estate Advisors

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Commercial

Property Type

5,604

Bldg Sq Ft

Units

5.00%

Cap Rate

1910

Year Built

Property Overview

This 16-unit studio apartment complex has been extensively modernized while retaining its original character. The unit mix includes three studios with full kitchens and thirteen studios with mini-kitchens, each outfitted with a refrigerator, Breville microwave, and granite-accented sink. Comprehensive renovations include new plumbing throughout, fully updated kitchens and baths, a recirculating hot water system, building-wide electrical replacement, a new roof and windows, renovated common areas, and state-of-the-art laundry equipment. Security and convenience upgrades, such as locking mailboxes and cameras, further enhance the property. Together, these improvements significantly reduce future capital expenditure requirements, positioning the building for stable long-term performance.One