Property Details
3217 Norton Avenue
Everett, WA 98201
$1,200,000
Pending Inspection
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Property Overview
Exceptional value-add opportunity in the heart of Everett! This well-maintained 4-plex in Everett's Norton Grand neighborhood offers an outstanding combination of location, recent capital improvements, and future upside. Ideally situated just minutes from Providence Everett Pacific Campus, Naval Station Everett, the Everett waterfront, downtown Everett, shopping, dining, and transit, the property is well-positioned to attract strong rental demand. The building features three 2-bedroom/1-bath units and one 3-bedroom/1-bath unit, presenting an excellent opportunity for investors or owner-occupants to lease at current market rents. Significant recent improvements include a brand-new sewer line installed in October 2025 from beneath the building to the city connection and freshly painted exterior. Throughout ownership, several units have been tastefully updated with refreshed interior paint, renovated kitchens and bathrooms, and luxury vinyl plank flooring. Additional amenities include a shared laundry room with tenant storage, a four-car carport, and convenient alley access. Further upside exists through operational efficiencies and thoughtful amenity enhancements. Financial information is based on pro forma rents and estimated expenses. Buyers should conduct their own due diligence regarding all projected financial information. Conveniently located within walking distance of downtown Everett, this is an exceptional investment opportunity with immediate and long-term potential!
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Pending Inspection
County
Snohomish
Neighborhood
Everett
Listed
Jul 31, 2026
Structure Type
Quadruplex
Parcel Number
00437577100900
Tax & HOA
Annual Property Tax
$8,004 (2026)
Est. Monthly Tax
$667/mo
Financial Summary
Cap Rate
5.00%
Net Operating Income
$59,961
Gross Scheduled Income
$89,700
Gross Rent Multiplier
13.38
Total Expenses
$25,254
Vacancy Rate
5.0%
Building & Use
Building Sq Ft
3,632
Leasable Area
3,440 sqft
Total Units
4
Lot Size
6,098 sqft
Year Built
1963
Exterior & Lot
Lot Size
0.14 sqft
Year Built
1963
Exterior Materials
Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Alley, Curbs, Paved, Sidewalk
Exterior Features
Wood, Wood Products
Community & Access
Directions
I-5, take the 41st St Exit. Head West. Right on Rucker. Left on 35th. Right on Norton.
Location
City
Everett
County
Snohomish
Coordinates
47.97438, -122.21373
Additional Information
Tax Year
2026
Annual Taxes
$8,004
Possession
Array
Based on information submitted to the MLS GRID as of August 7, 2026 11:00 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
