Everett, WA 98201 2501 Colby Avenue
$5,000,000
25 more
Presented By: COMPASS and NWMLS
- MLS# 2394216
- 06/18/2025
Disclaimer: The information contained in this listing has not been verified by kvCORE WordPress Staging and should be verified by the buyer.
SQFT • 15,081
Home Details
Turnkey 22-unit investment opportunity in downtown Everett! Built in 1908 and fully renovated in 2024, Heritage Manor blends historic charm with modern updates. Renovations include new TPO roof, updated electrical, water heaters, flooring, and stylish interiors with quartz countertops and stainless steel appliances. All units are 1-bed + den layouts, ideal for flexible living. Amenities include controlled access, on-site laundry, and 21 reserved parking spaces. Strong tenant base near Naval Station Everett, Port of Everett, and the future light rail station. Market cap rate up to 6.46%. With limited inventory and over $500K in capital improvements, this asset offers immediate cash flow and long-term upside.
Presented By: COMPASS and NWMLS
Interior Features for 2501 Colby Avenue
Bedrooms
Bedrooms Possible0
Bedrooms Upper
Bathrooms
Baths Full Upper0
Baths Half Upper
Baths Three Quarter Upper
Other Interior Features
Air Conditioning Y/NNo
Fireplace Y/NNo
FlooringVinyl Plank, Carpet
Heating Y/NYes
Power Production TypeElectric
Total Fireplaces
Total Stories3
General for 2501 Colby Avenue
AmenitiesCoin Op Laundry, Storage
Building Area UnitsSquare Feet
Cap Rate5.8
Carport Spaces
Carport Y/NNo
CityEverett
CoolingNone
CountySnohomish
DirectionsI-5 N: Exit 192 Broadway/41st St, merge on Broadway, (L) on Everett Ave, (R) on Colby, property on (R). I-5 S: Exit 174 Everett Ave/US 2 East, keep (R), (R) on Everett, (R) on Colby, building on (R)
Electric Expense
Fuel Expense
HOANo
HOA Fee$
HeatingBaseboard, Radiator
High School DistrictEverett
Insurance Expense19000
Leasable Area15081
Listing TermsCash Out, Conventional
Living Area UnitsSquare Feet
Lot Size Square Feet13939
Lot Size UnitsSquare Feet
MLS Area740 – Everett/Mukilteo
ModificationTimestamp2025-07-28T18:29:11.029Z
NWM_ShowMapLinkY
Net Operating Income290249
New ConstructionNo
Number Of Units Total2
Open Parking Spaces21
PossessionClosing
Possible UseMulti-Family
Property Style56 – 10+ Units
Property SubtypeMulti Family
Property TypeResidential Income
Public RemarksTurnkey 22-unit investment opportunity in downtown Everett! Built in 1908 and fully renovated in 2024, Heritage Manor blends historic charm with modern updates. Renovations include new TPO roof, update
RoofFlat
Senior Community Y/NNo
SewerSewer Connected
Special Listing ConditionsNone
Standard StatusActive
StatusActive
Structure TypeMulti Family
Subdivision NameEverett
Tax Annual Amount33658.03
Tax Year2025
Units Below Gradetrue
Units In Building Total2
Water Sewer Garbage21921
Year Built1908
Zoning DescriptionMulti-Family
Exterior for 2501 Colby Avenue
Building Area Total15081
Covered Spaces
Exterior AmenitiesBrick
Foundation DetailsPoured Concrete
Irrigation Water Rights Y/NNo
Lot FeaturesAlley, Corner Lot, Paved, Sidewalk
Lot Size Acres0.32
Parking Uncovered Spaces21
Site FeaturesCable TV, High Speed Internet
Total Parking21
Water SourcePublic
Waterfront Y/NNo
Additional Details
Price History
Josh QA1
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