700 W Maple Street, Monroe, WA 98272
- $7,550,000
Listing courtesy of Northmarq Multifamily, LLC. Selling Office: Windermere Bellevue Commons.
- Sold Price
- $7,550,000
- List Price
- $8,100,000
- Status
- SOLD
- MLS#
- 2434987
- Closing Date
- Feb 24, 2026
- Days on Market
- 49
- Style
- 56 - 10+ Units
- Building Condition
- Very Good
- Annual Tax Ammount
- 55762
- Lot Size (sq ft)
- 89,298
- Sewer
- Sewer Connected
Property Description
We are pleased to present the Parkside Apartments, a 29-unit multifamily community located in Monroe, WA. It offers a balanced mix of 1-, 2-, and 3-BD floorplans, averaging 908SF. Each residence is equipped with in-unit W/D, with many units upgraded to include SS appliances, granite CT, LVP flooring, and other modern finishes. The property is situated on a large 89,298SF parcel, providing residents with a lower-density living environment and ample on-site parking. It has been well maintained and is currently achieving strong operating performance, with average rents of $2,007 and positive T12, T6, and T3 trends. This consistent operational trajectory underscores the property’s strong positioning within the Snohomish County rental market.
Additional Information
- List Date
- 2026-01-06 00:00:00
- Community
- Monroe
- Net Operating Income
- $477,135
- Gross Adjusted Income
- $731,558
- Gross Scheduled Income
- $766,471
- Total Monthly Income
- $60,951
- Insurance Expenses
- $7,740
- Water/Sewer/Garbage Expenses
- $58,532
- Gross Rent Multiplier
- 11.6
- Total Expenses
- $254,423
- Cap Rate
- 5.8
- Vacancy Rate
- 5
- Total Number of Units
- 29
- Unit Name
- 700
- Potential Terms
- Cash, Conventional
- Year Built
- 1982
- Roof
- Composition
- Site Features
- Cable TV, Fenced-Partially, Patio, Shop
- Other Expenses
- 132389
- Energy Source
- Electric
- School District
- Monroe
- Total Monthly Income
- $60,951
- Gross Scheduled Income
- $766,471
- Vacancy Rate
- 5
- Gross Adjusted Income
- $731,558
- Tax Year
- 2025
- Insurance Expense
- $7,740
- W/S/G Expenses
- $58,532
- Total Expenses
- $254,423
- Net Operating Income
- $477,135
- Gross Rent Multiplier
- 11.6
- Cap Rate
- 5.8
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.