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About the Listing 7433 - 133918
PRICE ADJUSTMENT - EVERETT 2044 REDEVELOPMENT | MU-7 (7-STORY) | 6.00% CAP RATE A rare 2-parcel assemblage in Everett's highest-velocity growth corridor — offered at $2,30,000 ($2,090,000 main building + $210,000 development parcel). This combined footprint is a textbook Covered Land Play: bankable cash flow today, transformational upside tomorrow. CASH FLOW + VALUE-ADD: 16 existing units — retail storefronts and apartments — deliver a proven 6.00% in-place cap rate at $2,090,000 against the main parcel. Rents sit materially below market, creating an immediate path to compress that gap and drive NOI higher from day one. Underutilized basement and storage areas represent untapped income with minimal capital outlay. THE ASSEMBLAGE ADVANTAGE: Two parcels deliver the depth and scale single-lot sites simply cannot replicate. The development parcel alone represents significant value at $310,000 for a 3,000 SF lot in this corridor. Unlock maximum Floor Area Ratio, optimized parking configurations, and institutional-grade mid-rise construction potential under Everett's new TOD mandates. This footprint is purpose-built for what's coming. EVERETT 2044 VISION: Zoned MU-7 (Mixed Urban, 7-Story) in Everett's designated high-density growth corridor. Positioned on a high-visibility arterial with 30,000+ VPD, steps from the future Sound Transit Light Rail station. The city's blueprint for density is written — this parcel is inside it.
Listing Highlights
Status
Active
Days on Site
91
Property Type
Commercial Sale
MLS ®
2475831
Year Built
1968
Total Square Footage
0
Lot/Acreage
0.27
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces: 0
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: City of Everett
Exterior Details
- Lot Description: Zoning: Commercial
- Garage Capacity: N/A
- Parking Spaces: 14
- Zoning: Commercial
- Roof: Built-Up
- Others:
- Sewer: City of Everett
Financial Details
- Tax Amount: $11,541
- Taxes w/Assessments: N/A
- Tax/Property ID: 00392900401200
- Tax Year: 2025
Payment Calculator
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Questions About..
6325 Evergreen Way Everett, WA 98203
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