520 S Kelsey Street, Monroe, WA 98272
- $5,200,000
Listing courtesy of Northmarq Multifamily, LLC.
- List Price
- $5,200,000
- Status
- ACTIVE
- MLS#
- 2493947
- Days on Market
- 283
- Style
- 56 - 10+ Units
- Building Condition
- Very Good
- Annual Tax Ammount
- 33065
- Lot Size (sq ft)
- 40,946
- Sewer
- Sewer Connected
Property Description
We are pleased to present the Cherry Creek Apartments, a highly desirable 18-unit multifamily community located in Monroe, WA. It offers a diverse unit mix consisting of 1BD flats, 2BD flats, and spacious 2 & 3BD townhomes, with an average unit size of 1,134SF. The property has undergone extensive renovations, with most residences featuring SS appliances, granite CT, LVP flooring, modern lighting, refaced cabinetry, and in-unit W/D. It provides a superior parking ratio of 2.67 spaces/unit, including 20 garage spaces and 28 surface stalls. Select townhome units feature attached 2-car garages and floorplans up to 1,450SF, positioning Cherry Creek as a competitive alternative to single-family housing.
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Additional Information
- List Date
- 2025-10-16 15:28:13
- Community
- Monroe
- Net Operating Income
- $295,368
- Gross Adjusted Income
- $429,803
- Gross Scheduled Income
- $452,424
- Total Monthly Income
- $42,139
- Insurance Expenses
- $20,972
- Water/Sewer/Garbage Expenses
- $46,682
- Gross Rent Multiplier
- 11.49
- Total Expenses
- $187,680
- Cap Rate
- 5.68
- Vacancy Rate
- 5
- Total Number of Units
- 18
- Unit Name
- 520
- Potential Terms
- Cash, Conventional
- Year Built
- 1989
- View
- Territorial
- Roof
- Composition
- Site Features
- Patio
- Other Expenses
- 86961
- Energy Source
- Electric
- School District
- Monroe
- Total Monthly Income
- $42,139
- Gross Scheduled Income
- $452,424
- Vacancy Rate
- 5
- Gross Adjusted Income
- $429,803
- Tax Year
- 2025
- Insurance Expense
- $20,972
- W/S/G Expenses
- $46,682
- Total Expenses
- $187,680
- Net Operating Income
- $295,368
- Gross Rent Multiplier
- 11.49
- Cap Rate
- 5.68
Based on information submitted to the MLS GRID as of . 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 noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.