7234 47th Avenue NE, Marysville, WA 98270
- $4,850,000
- 16,240
- SqFt
Listing courtesy of Paragon Real Estate Advisors.
- List Price
- $4,850,000
- Status
- ACTIVE
- MLS#
- 2555393
- Days on Market
- 10
- Style
- 56 - 10+ Units
- Finished SqFt
- 16,240
- Area Total SqFt
- 16240
- Annual Tax Ammount
- 24269
- Lot Size (sq ft)
- 41,382
- Sewer
- Available
Property Description
The Cove Apartments offers investors a compelling combination of strong in-place cash flow, recent capital improvements, and long-term upside in the growing Marysville market. The property has benefited from significant interior and exterior upgrades, including renovated apartment homes, in-unit washers and dryers in every unit, fresh exterior paint, updated signage, and ample on-site parking, creating a low-maintenance investment that continues to attract tenant demand. Currently operating at a strong 6.91% in-place cap rate, The Cove delivers exceptional day-one returns while offering future rental growth potential. Its functional unit mix, proven operational performance, and recent improvements provide stability and long-term value appreciation. Conveniently located near Interstate 5, State Route 529, and State Route 9, residents enjoy easy access to major employment centers throughout Snohomish County and the greater Seattle area. Supported by strong population growth, expanding infrastructure, limited multifamily supply, and sustained economic investment across the North Puget Sound region, The Cove Apartments represents an outstanding opportunity to acquire a well-positioned, income-producing asset with both immediate cash flow and long-term investment potential.
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Additional Information
- List Date
- 2026-07-16 17:13:11
- Community
- North Marysville
- Net Operating Income
- $332,777
- Gross Adjusted Income
- $461,985
- Gross Scheduled Income
- $483,801
- Total Monthly Income
- $40,317
- Insurance Expenses
- $8,692
- Water/Sewer/Garbage Expenses
- $28,080
- Gross Rent Multiplier
- 10.02
- Total Expenses
- $126,834
- Cap Rate
- 6.9
- Vacancy Rate
- 5
- Total Number of Units
- 20
- Unit Name
- 7234
- Potential Terms
- Cash, Conventional
- Year Built
- 1967
- Roof
- Composition
- Other Expenses
- 65793
- Energy Source
- Electric
- School District
- Marysville
- Total Monthly Income
- $40,317
- Gross Scheduled Income
- $483,801
- Vacancy Rate
- 5
- Gross Adjusted Income
- $461,985
- Tax Year
- 2026
- Insurance Expense
- $8,692
- W/S/G Expenses
- $28,080
- Total Expenses
- $126,834
- Net Operating Income
- $332,777
- Gross Rent Multiplier
- 10.02
- Cap Rate
- 6.9
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.