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VILLORBA 222 N 15th St 33 Unit Apartment Building $8,082,365 CAD ($244,920 CAD/Unit) 6.01% Cap Rate Mount Vernon, WA 98273
Investment Highlights
- Nice layout with good storage
- Close to schools, medical, retail and restaurants
- Onthe Mount Vernon Hill out of the flood plain
- Close proximity to I-5, Division, College Way
Executive Summary
Well taken care of 33 unit apartment complex located on the hill in Mount Vernon. Most units have been remolded during tenant change over.
Rents are under market providing a good upside for a buyer. Very low vacancy.
Complex is close to schools, medical, retail and restaurants. Within close proximity to I-5, Division St., College Way and Riverside Drive.
Walk through to be scheduled upon a mutually accepted offer.
Rents are under market providing a good upside for a buyer. Very low vacancy.
Complex is close to schools, medical, retail and restaurants. Within close proximity to I-5, Division St., College Way and Riverside Drive.
Walk through to be scheduled upon a mutually accepted offer.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $8,082,365 CAD | Apartment Style | Garden |
| Price Per Unit | $244,920 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 2.30 AC |
| Cap Rate | 6.01% | Building Size | 15,548 SF |
| Gross Rent Multiplier | 12.6 | Average Occupancy | 95% |
| No. Units | 33 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1977/2020 |
| Property Subtype | Apartment | ||
| Zoning | MF | ||
| Price | $8,082,365 CAD |
| Price Per Unit | $244,920 CAD |
| Sale Type | Investment |
| Cap Rate | 6.01% |
| Gross Rent Multiplier | 12.6 |
| No. Units | 33 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.30 AC |
| Building Size | 15,548 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built/Renovated | 1977/2020 |
| Zoning | MF |
Amenities
Unit Amenities
- Kitchen
Site Amenities
- Courtyard
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 13 | - | - |
| 2+2 | 20 | - | - |
1 1
Moderately walkable
60/100
Very drivable
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $4,683,801 CAD | |
| Land Assessment | $1,818,935 CAD | Total Assessment | $6,502,736 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$1,818,935 CAD
Improvements Assessment
$4,683,801 CAD
Total Assessment
$6,502,736 CAD
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VILLORBA | 222 N 15th St
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