Property Details

321 N 4th Street #A-D
Mount Vernon, WA 98273
$1,199,000
MLS# 2562279 courtesy of NWMLS Listing firm: Windermere RE Whatcom, Inc.

Schedule a Showing

Select your date preference

Request More Info

I’d like more information about 321 N 4th Street #A-D, Mount Vernon, WA 98273, Mount Vernon, MLS# 2562279

Schedule a Showing

321 N 4th Street #A-D, Mount Vernon, WA 98273, Mount Vernon

Request Information

321 N 4th Street #A-D, Mount Vernon, WA 98273, Mount Vernon

1 / 19
Multi-Family
Property Type
2,891
Bldg Sq Ft
5
Units
5.50%
Cap Rate
1917
Year Built

Property Overview

Investor Alert – Exceptional Cash-Flow Opportunity with Future Value-Add Potential! Now generating $6,395 per month in gross rental income, this turnkey 4-plex offers immediate cash flow with future flexibility. The property consists of a newly renovated triplex plus a detached 2-bedroom, 1-bath home on one lot, with the potential to adjust the lot line and create two separate properties—a standalone home and a triplex (buyer to verify feasibility). Extensively updated, the units feature new appliances, mini-split heating and cooling systems, flooring, windows, kitchens, and bathrooms. Each unit is separately metered for simplified utility management. The triplex includes a one-car garage and additional basement storage. Whether you're looking to maximize your investment or occupy one residence, this property offers outstanding flexibility. Choose to adjust the lot line and sell one property while keeping the other, live in the detached home and rent the triplex, or maintain all four units as income-producing rentals. The detached home features a spacious yard, off-street parking, and scenic river views, making it an attractive rental or owner-occupied residence. Conveniently located near shopping, downtown amenities, and freeway access, this property combines strong in-place income, recent renovations, and future upside. Don't miss this exceptional investment opportunity!

Property Details

Property Information

Property Type Residential Income
Subtype Multi Family
Status Active
County Skagit
Neighborhood Mount Vernon
Listed Aug 3, 2026
Structure Type Quadruplex
Parcel Number P52226

Tax & HOA

Annual Property Tax $6,635 (2026)
Est. Monthly Tax $553/mo

Financial Summary

Cap Rate 5.50%
Net Operating Income $66,000
Gross Scheduled Income $74,400
Gross Rent Multiplier 17.47
Total Expenses $11,309
Vacancy Rate 2.0%

Building & Use

Building Sq Ft 2,891
Leasable Area 2,891 sqft
Total Units 5
Zoning Multi-Family
Possible Use Multi-Family
Lot Size 9,579 sqft
Year Built 1917

Exterior & Lot

Lot Size 0.22 sqft
Year Built 1917
Garage 1 spaces
Exterior Materials Wood
Sewer Sewer Connected
Water Source Public
Lot Features Paved
Exterior Features Wood

Community & Access

Directions Take the WA-538 E/College Way exit, EXIT 227. Turn left onto W College Way/WA-538 Turn right onto Riverside Dr. Riverside Dr becomes N 4th St. Home is on the RIGHT.

Location

City Mount Vernon
County Skagit
Coordinates 48.42386, -122.33573

Additional Information

Tax Year 2026
Annual Taxes $6,635
Possession Array
Listed By
Wynden Holman
Windermere RE Whatcom, Inc.

Schedule a Showing

Have a Question?

Schedule a Showing

Select your date preference

Request More Info

I’d like more information about 321 N 4th Street #A-D, Mount Vernon, WA 98273, Mount Vernon, MLS# 2562279