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19207 60th Ave W
Lynnwood, WA 98036
Village Manor Apartments · Multifamily Property For Sale
·
8 Units
Investment Highlights
- Excellent West Lynnwood location
- 1.5 miles from the Lynnwood light rail station
- 4 units fully renovated
- Rare walkable location boasting a walk score of 83 with ample amenities within half a mile
- Well maintained attractive property with many updates
- All units feature hardwood floors
Executive Summary
Paragon Real Estate Advisors is pleased to present the Village Manor Apartments, a rare multifamily investment opportunity in the thriving Lynnwood market. This well-maintained 8-unit property offers investors a strong in-place tenant base with clear upside through a proven value-add strategy, already implemented in 50% of the units.
The unit mix consists of three 1-bedroom + den units, four 2-bedroom units, and one spacious 2-bedroom + den unit. The renovated 2-bedroom units feature quartz kitchen countertops, refinished cabinetry with new hardware, modern bathroom vanities and tub surrounds, and new LVP flooring in kitchens and bathrooms. Each unit features hardwood flooring throughout the living rooms and bedrooms along with access to a shared central courtyard and an updated common laundry room, enhancing the resident experience.
Village Manor Apartments is a low-maintenance asset, with many major building systems already updated. The roof was replaced in 2016, and the property benefits from double-pane vinyl windows, Square D electrical panels, electric baseboard heating, and predominantly PEX plumbing. The brick exterior, combined with recently painted doors and eaves, contributes to strong curb appeal and long-term durability.
Situated on an expansive 21,344-square-foot lot, the property offers 10 on-site open parking stalls, an attractive amenity in this submarket. The location is highly desirable, positioned just 2.7 miles from Alderwood Mall, 1.5 miles from the new Lynnwood Light Rail Station, and one block from Safeway.
With strong rental demand, a solid physical condition, and both immediate cash flow and future upside, Village Manor Apartments represents an exceptional investment opportunity in one of Snohomish County’s fastest-growing rental markets.
The unit mix consists of three 1-bedroom + den units, four 2-bedroom units, and one spacious 2-bedroom + den unit. The renovated 2-bedroom units feature quartz kitchen countertops, refinished cabinetry with new hardware, modern bathroom vanities and tub surrounds, and new LVP flooring in kitchens and bathrooms. Each unit features hardwood flooring throughout the living rooms and bedrooms along with access to a shared central courtyard and an updated common laundry room, enhancing the resident experience.
Village Manor Apartments is a low-maintenance asset, with many major building systems already updated. The roof was replaced in 2016, and the property benefits from double-pane vinyl windows, Square D electrical panels, electric baseboard heating, and predominantly PEX plumbing. The brick exterior, combined with recently painted doors and eaves, contributes to strong curb appeal and long-term durability.
Situated on an expansive 21,344-square-foot lot, the property offers 10 on-site open parking stalls, an attractive amenity in this submarket. The location is highly desirable, positioned just 2.7 miles from Alderwood Mall, 1.5 miles from the new Lynnwood Light Rail Station, and one block from Safeway.
With strong rental demand, a solid physical condition, and both immediate cash flow and future upside, Village Manor Apartments represents an exceptional investment opportunity in one of Snohomish County’s fastest-growing rental markets.
Property Facts Under Contract
| Price Per Unit | $322,762 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.64% | Lot Size | 0.49 AC |
| Gross Rent Multiplier | 11.9 | Building Size | 5,220 SF |
| No. Units | 8 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1957 |
| Property Subtype | Apartment | Parking Ratio | 1.53/1,000 SF |
| Zoning | CG, Lynnwood | ||
| Price Per Unit | $322,762 CAD |
| Sale Type | Investment |
| Cap Rate | 5.64% |
| Gross Rent Multiplier | 11.9 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.49 AC |
| Building Size | 5,220 SF |
| No. Stories | 1 |
| Year Built | 1957 |
| Parking Ratio | 1.53/1,000 SF |
| Zoning | CG, Lynnwood |
Amenities
Unit Amenities
- Kitchen
- Hardwood Floors
- Refrigerator
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Courtyard
- Laundry Facilities
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | $2,069 CAD | 650 |
| 2+1 | 5 | $2,239 CAD | 800 |
Property Taxes
| Parcel Number | 005853-000-008-00 | Improvements Assessment | $973,210 CAD |
| Land Assessment | $1,115,975 CAD | Total Assessment | $2,089,184 CAD |
Property Taxes
Parcel Number
005853-000-008-00
Land Assessment
$1,115,975 CAD
Improvements Assessment
$973,210 CAD
Total Assessment
$2,089,184 CAD
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