Monroe, WA 98272 520 S Kelsey Street
$5,200,000
0 more
Presented By: Northmarq Multifamily, LLC and NWMLS
- MLS# 2435034
- 09/17/2025
Disclaimer: The information contained in this listing has not been verified by kvCORE WordPress Staging and should be verified by the buyer.
Home Details
We are pleased to present the Cherry Creek Apartments, a highly desirable 18-unit multifamily community located in Monroe, WA. It offers a diverse unit mix consisting of 1BD flats, 2BD flats, and spacious 2 & 3BD townhomes, with an average unit size of 1,134SF. The property has undergone extensive renovations, with most residences featuring SS appliances, granite CT, LVP flooring, modern lighting, refaced cabinetry, and in-unit W/D. It provides a superior parking ratio of 2.67 spaces/unit, including 20 garage spaces and 28 surface stalls. Select townhome units feature attached 2-car garages and floorplans up to 1,450SF, positioning Cherry Creek as a competitive alternative to single-family housing.
Presented By: Northmarq Multifamily, LLC and NWMLS
Interior Features for 520 S Kelsey Street
Bedrooms
Bedrooms Upper
Bathrooms
Baths Full Upper0
Baths Half Upper
Baths Three Quarter Upper
Other Interior Features
Air Conditioning Y/NNo
Fireplace Y/NNo
FlooringVinyl Plank, Carpet
Heating Y/NYes
Power Production TypeElectric
Total Fireplaces
Total Stories2
General for 520 S Kelsey Street
Building Area UnitsSquare Feet
Cap Rate5.88
Carport Spaces
Carport Y/NNo
CityMonroe
CoolingNone
CountySnohomish
DirectionsI5 N., Take WA-520 E via EXIT 168B toward Bellevue/Kirkland, Merge onto I-405 N, Take EXIT 23 WA-522 E, Take the W Main St exit toward Monroe, Turn right onto S Kelsey St., building is on the right
Electric Expense
Fuel Expense
HOANo
HOA Fee$
HeatingBaseboard
High School DistrictMonroe
Insurance Expense9660
Leasable Area20556
Listing TermsCash Out, Conventional
Lot Size Square Feet40946
Lot Size UnitsSquare Feet
MLS Area610 – Southeast Snohomish
ModificationTimestamp2025-09-17T23:08:11.335Z
NWM_ShowMapLinkY
Net Operating Income430339
New ConstructionNo
Number Of Units Total18
Open Parking Spaces28
PossessionClosing
Possible UseMulti-Family
Property ConditionVery Good
Property Style56 – 10+ Units
Property SubtypeMulti Family
Property TypeResidential Income
Public RemarksWe 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 spacio
RoofComposition
Senior Community Y/NNo
SewerSewer Connected
Special Listing ConditionsNone
Standard StatusActive
StatusActive
Structure TypeMulti Family
Subdivision NameMonroe
Tax Annual Amount35277
Tax Year2025
Units Below Gradefalse
Units In Building Total18
ViewTerritorial
Water CompanyCity
Water Sewer Garbage43526
Year Built1989
Zoning DescriptionMulti-Family
Exterior for 520 S Kelsey Street
Building Area Total
Covered Spaces20
Exterior AmenitiesWood
Foundation DetailsPoured Concrete
Irrigation Water Rights Y/NNo
Lot FeaturesDead End Street, Paved, Sidewalk
Lot Size Acres0.94
Parking Uncovered Spaces28
Site FeaturesPatio
Total Parking48
Water SourcePublic
Waterfront Y/NNo
Additional Details
Price History
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