MLS #2498475 / Listing provided by NWMLS & Realty One Group Enterprise.
$1,850,000
17820 Smokey Point Boulevard
Arlington,
WA
98223
Sq Ft
Per Sq Ft
Year Built
Great opportunity to own this renovated 6-unit multi-family investment in Arlington that offers 6,084 SF on 22,651 SF of land partially fenced with private patios for each unit with 15 parking spaces. Located in a Residential area making this the perfect community living. Strong tenants & income in place, still room to grow income and NOI with ZERO Vacancy! Tenants pay own Electricty, Trash & Recycle. All units are 2 bedrooms & 1 Bathroom and VERY LARGE units at 1,014 SQFT each. Recent renovations include eletrical, plumbing, venting, insulation, gutters, downspouts, landscaping, exterior & interior paint and many other items. Current Proforma Revenue: $137896 (current 2026) Expenses: 25,000/year, NOI: $112,896, Cap Rate: 6.1%. Market rate in 12-18 months $2,300+. Proforma Income $165k CAP at 8.02%! Units 4 is completed renovated with new kitchen, countertops, bathroom, appliance etc... Now rent Unit 4 $2,200 and $2300+ Market Rate in the future! Units have updated paint, flooring, carpet upgrades of Appliances, Hot Water tanks & items from 2023. Newer fencing and lots of backyard space for all tenants. Located in a growing Arlington area with strong rental demand and Businesses. The new 2.8 million SF Amazon Fulfillment Center, Coca Cola Plant, Airport are just a couple minutes away. Smokey Point Community Park is walking distance across the street with playground and athletic areas. Huge retail Mall Plaza with Target, Costco, Retail and Restaurants just minutes away!
Disclaimer: The information contained in this listing has not been verified by Hawkins-Poe Real Estate Services and should be verified by the buyer.
Bedrooms
- Upper Level Bedrooms: 0
Fireplaces
- Total Fireplaces: 0
Heating & Cooling
- Heating: Yes
- Cooling: No
Parking
- Garage Spaces: 0
- Parking Total: 15
- Total Uncovered Parking Spaces: 15
Structure
- Roof: Composition
- Exterior Features: Brick, Cement/Concrete, Wood, Wood Products
- Foundation: Poured Concrete
Lot Details
- Lot Features: Corner Lot, Cul-De-Sac, Curbs, Dead End Street, Open Space, Paved, Sidewalk
- Acres: 0.52
- Foundation: Poured Concrete
Schools
- High School District: Lakewood
Lot Details
- Lot Features: Corner Lot, Cul-De-Sac, Curbs, Dead End Street, Open Space, Paved, Sidewalk
- Acres: 0.52
- Foundation: Poured Concrete
Power
- Energy Source: Electric
- Power Company: Tenants Pay
Water, Sewer, and Garbage
- Sewer: Sewer Connected
- Water Source: Public
- Water, Sewer, and Garbage: 8115
Packy and Kari Rieder
Broker | REALTOR®
Send Packy and Kari Rieder an email