Village Manor Apartments 19207 60th Ave W 8 Unit Apartment Building $2,602,449 CAD ($325,306 CAD/Unit) 5.64% Cap Rate Lynnwood, WA 98036

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.