701 S 1st Street, Mount Vernon, WA 98273
- $2,300,000
Listing courtesy of Pettruzzelli Inc.
- List Price
- $2,300,000
- Status
- ACTIVE
- MLS#
- 2549983
- Days on Market
- 20
- Annual Tax Ammount
- 12015
Property Description
Fantastic investment opportunity in prime downtown Mount Vernon location. Fully rented, this 13,000 square foot property features a beloved, long-term retail tenant on the main floor with ample living space above. On the second floor you'll find a mix of 18 rental units which include full apartments and individual rooms along with communal kitchen, restrooms, and coin operated laundry. These units offer a great opportunity for low income housing and are in great demand. Located in the heart of downtown, this historic building is within easy walking distance of the Skagit Riverwalk, grocery stores, restaurants, the Lincoln Theatre, summer concerts, farmers markets, shops, and everything downtown Mount Vernon offers.
Additional Information
- Community
- Downtown
- Style
- 61 - Comm Bldg Ovr 10K
- Year Built
- 1908
- Roof
- Flat, Torch Down
- Tax Year
- 2026
- Potential Terms
- Cash, Conventional
- Driving Directions
- Take Exit 226 from I-5, then west on Kincaid to 1st Street, then right on 1st to building on left.
- Other Expenses
- 12046
- Energy Source
- Electric, Natural Gas
- Net Operating Income
- $167,498
- Gross Scheduled Income
- $235,800
- Water/Sewer/Garbage Expenses
- $33,216
- Cap Rate
- 7.28
- Total Expenses
- $68,302
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.