16206 2nd Place W, Lynnwood, WA 98087
- $1,050,000
- 3,008
- SqFt
Listing courtesy of Windermere Real Estate/Summit.
- List Price
- $1,050,000
- Status
- ACTIVE
- MLS#
- 2583629
- Days on Market
- 0
- Style
- 52 - Duplex
- Building Condition
- Good
- Finished SqFt
- 3,008
- Area Total SqFt
- 3008
- Annual Tax Ammount
- 8805.58
- Lot Size (sq ft)
- 19,602
- Sewer
- Sewer Connected
Property Description
Investor alert: A durable, cash-flowing duplex in one of Snohomish County’s most rentable pockets — projected at approximately $69,780 in gross annual rent and a 5.23% cap rate, with upside as rents reset to market.Two ways to win: an established investor acquires a fully leased two-home asset with stable, diversified cash flow from day one. For someone stepping into multifamily for the first time, there is the possibility to live in one unit while the second covers much of your mortgage as a unit becomes available. This is a lower-risk entry into income property for a diverse set of investor profiles.The layout and location are a real assets, too: these are two full 3-bedroom, 2-bath homes — the size and layout people search for and stay in — with quick access to the region’s largest employers via the new light rail to Seattle and the Bellevue/Eastside corridor, keeping a broad, credit-worthy tenant pool competing for quality 3-bedroom rentals.Each home is built to lease fast and stay leased: attached two-car garage, in-unit full-size washer and dryer, private fenced yard, and a comfortable single-family-style layout.
Additional Information
- List Date
- 2026-09-17 17:32:18
- Community
- Lynnwood
- Net Operating Income
- $54,887
- Gross Adjusted Income
- $69,780
- Gross Scheduled Income
- $69,780
- Total Monthly Income
- $5,815
- Insurance Expenses
- $1,741
- Gross Rent Multiplier
- 15.05
- Total Expenses
- $14,893
- Cap Rate
- 5.23
- Total Number of Units
- 2
- Unit Name
- 16206
- Potential Terms
- Cash, Conventional
- Year Built
- 1990
- Roof
- Composition
- Site Features
- Cable TV, Gas Available, High Speed Internet, Patio
- Other Expenses
- 4346
- Energy Source
- Electric, Natural Gas
- School District
- Edmonds
- Total Monthly Income
- $5,815
- Gross Scheduled Income
- $69,780
- Gross Adjusted Income
- $69,780
- Tax Year
- 2025
- Insurance Expense
- $1,741
- Total Expenses
- $14,893
- Net Operating Income
- $54,887
- Gross Rent Multiplier
- 15.05
- Cap Rate
- 5.23
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.