2519 Baker Avenue, Everett, WA 98201

Property Description

Opportunity to acquire a professionally managed, turnkey, two-building, five-unit multifamily investment on a single tax parcel in the Riverside neighborhood of North Everett. The offering consists of a two-story triplex fronting Baker Avenue and a duplex accessed via Fulton Avenue. Both buildings are well maintained and feature upgraded double pane vinyl windows, new roofs as well as lots of plumbing upgrades. 3 of the 5 units are renovated with new kitchens, bathrooms, flooring and paint. Tenants are professionally screened and have an exceptional history of on-time payments with virtually zero delinquency. Current cap rate of 6.18% with pro forma upside to 6.88% or beyond as below-market units are brought to current rents — providing a turnkey property with some value add potential. Strong Everett rental fundamentals backed by Boeing, Naval Station Everett, Amazon, and a robust health care economy. Gross rental income of $91,884 annually with pro forma income of $100,200 or more depending on what extent of upgrades are performed on the two unrenovated units.

Listing Status:

Active

Data Last Updated:

July 5, 2026 at 7:20AM

Listing Office:

Opal Blue Real Estate, LLC : 425-510-6162

Listing Agent:

Grant Fosheim : 425-510-6162

MLS ID:

2547331

Interior

• Flooring: Vinyl PlankCarpet
• A/C: None
• Heating: Baseboard
• Fireplace: Fireplaces: 0

Exterior

• General: WoodWood Products
• Parking: Parking spaces: 2

Construction

• Roofing: Composition
• General: 55 - 5-9 UnitsPillar/Post/PierPoured Concrete

Location

• HOA Amenities: 0.0
• Originating MLS: nwmls
• School District: Everett
• County: Snohomish

Lot

• Zoning: 00437857100900
• View: MountainsTerritorialView

Utilities

• Water: Public
• Sewer: Sewer Connected

Financial

• Source: nwmls