507 3rd ST, Sultan, WA 98294
507 3rd ST, Sultan, WA 98294
507 3rd ST, Sultan, WA 98294
507 3rd ST, Sultan, WA 98294
507 3rd ST, Sultan, WA 98294
507 3rd ST, Sultan, WA 98294
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Karen Call

Karen Call

+1(253) 514-6023
Listed by:Realty One Group Orca • Jose Zaragoza
$ 900,000
Est. payment | /mo

7 Beds

4 Baths

3,874 SqFt

Save
$ 900,000
Est. payment | /mo
Save

7 Beds

4 Baths

3,874 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,874 sqft

Price per Sqft $232

Subdivision Sultan

MLS Listing ID 2549035

Style 54 - 4-Plex

Bedrooms 7

Year Built 1952

Annual Tax Amount $5,211

Lot Size 0.290 Acres

Property Sub-Type Multi Family

Property Description

Rare fully-renovated 4-plex offering immediate cash flow and a clear value-add path — plus a $10,000 seller credit toward closing costs or a rate buy-down, accretive to day-one returns. Three of four units are fully remodeled and turnkey — Units 505 & 507 are tenant-occupied, and Unit 503 has been completely renovated to the same standard (new cabinets, quartz counters, tile bath, LVP flooring) and is move-in ready, with multiple rental inquiries already in hand at an estimated $1,900/mo. Units 503 & 507 also feature new water heaters, with Unit 505's water heater installed in 2019 — added peace of mind on mechanicals. Once leased, projected NOI reaches approximately $50,000+ on gross scheduled income of $66,671. Unit 509 is unfinished and represents additional built-in upside: convert to a 1-bed for an estimated $1,200/mo, pushing the cap rate toward 6%+ with minimal capital outlay. Exterior fully updated — new siding, new paint, front half of roof replaced, plumbing & electrical upgrades completed. Separate legal address on Unit 509 adds flexibility for a refinance. Huge .29-acre lot, 8+ off-street parking spaces, strong Sultan rental demand. Also ideal for an owner-occupant buyer: move into vacant, fully-remodeled Unit 503 with low-down-payment FHA or VA financing and let 505 & 507 help cover the mortgage — turnkey house-hacking made easy.

Location

State WA

County Snohomish

Area 750 - East Snohomish County

Interior

Flooring Vinyl, Vinyl Plank, Carpet

Fireplace false

Exterior

Exterior Feature Cement Planked

View Y/N Yes

View Mountains, Territorial

Roof Type Composition

Building

Lot Description Sidewalk

Sewer Sewer Connected

Water Public

New Construction No

Schools

Elementary Schools Sultan Elem

Middle Schools Sultan Mid

High Schools Sultan Snr High

School District Sultan

Others

Senior Community No

Acceptable Financing Cash, Conventional, FHA, USDA Loan, VA Loan

Listing Terms Cash, Conventional, FHA, USDA Loan, VA Loan

Northwest MLS (NWMLS)
"Three Trees" icon indicates a listing provided courtesy of NWMLS.

NEARBY SCHOOLS & PROPERTIES

Karen Call

Helping real estate be simple, fun and stress-free!

+1(253) 514-6023

karcall@gmail.com

Gig Harbor, WA 98335, USA

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507 3rd ST