19618 -19628 68th Avenue W, Lynnwood, WA 98036
- $4,575,000
- 22,100
- SqFt
Listing courtesy of Paragon Real Estate Advisors. Selling Office: Paragon Real Estate Advisors.
- Sold Price
- $4,575,000
- List Price
- $4,495,000
- Status
- SOLD
- MLS#
- 2396882
- Closing Date
- Dec 09, 2025
- Days on Market
- 28
- Style
- 56 - 10+ Units
- Finished SqFt
- 22,100
- Area Total SqFt
- 22100
- Annual Tax Ammount
- 50566
- Lot Size (sq ft)
- 61,419
- Sewer
- Sewer Connected
Property Description
The Chrimar Apartments is a unique value add multifamily investment opportunity in the thriving Lynnwood market. This 31-unit property offers investors immediate operational upside with the opportunity to increase rents and reposition the asset. The building consists of 31 units made up of 4 one bedroom/one bath units, 25 two bedroom/two bath units, 1 three bedroom/1 bath unit and 1 three bedroom/one and a half bath townhouse unit. 5 of the units have recently been turned over and are in the process of lease up. The property features a large common laundry room for the tenant’s convenience. Additionally, there is a RUBS system currently in place for ownership reimbursement of utility costs.
Additional Information
- List Date
- 2025-11-11 00:00:00
- Community
- Lynnwood
- Net Operating Income
- $351,331
- Gross Adjusted Income
- $597,999
- Gross Scheduled Income
- $629,472
- Total Monthly Income
- $52,456
- Insurance Expenses
- $29,450
- Water/Sewer/Garbage Expenses
- $53,787
- Gross Rent Multiplier
- 7.14
- Total Expenses
- $246,668
- Cap Rate
- 7.82
- Vacancy Rate
- 5
- Unit Name
- 19618 -19628
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1962
- Roof
- Built-Up
- Other Expenses
- 112865
- Energy Source
- Electric
- School District
- Edmonds
- Total Monthly Income
- $52,456
- Gross Scheduled Income
- $629,472
- Vacancy Rate
- 5
- Gross Adjusted Income
- $597,999
- Tax Year
- 2024
- Insurance Expense
- $29,450
- W/S/G Expenses
- $53,787
- Total Expenses
- $246,668
- Net Operating Income
- $351,331
- Gross Rent Multiplier
- 7.14
- Cap Rate
- 7.82
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.