The Cove 7234 47th Ave NE 20 Unit Apartment Building $6,808,576 CAD ($340,429 CAD/Unit) 6.91% Cap Rate Marysville, WA 98270

Paragon Real Estate Advisors is pleased to present the exclusive offering of The Cove, a well positioned turnkey multifamily investment opportunity located in the growing city of Marysville, Washington. The property offers investors an attractive combination of strong in-place cash flow, recent capital improvements, and continued upside in one of Snohomish County’s most resilient apartment markets.
The Cove Apartments has undergone significant interior and exterior improvements, creating an attractive, low-maintenance investment with modern amenities that continue to drive tenant demand. Several apartment homes have received complete interior renovations featuring updated finishes, while every unit benefits from the addition of an in-unit washer and dryer, a highly sought after amenity that supports premium rental rates. The property also features ample on-site parking, fresh exterior paint, and updated monument signage, further strengthening curb appeal and the overall resident experience. Currently operating at an impressive 6.91% in-place cap rate, The Cove provides investors with exceptional day-one cash flow while still offering opportunities to capture future rental growth. The property’s functional unit mix, proven operational performance, and recent capital improvements position it as a compelling acquisition for investors seeking both stability and long-term appreciation.
Strategically located in the heart of Marysville, The Cove offers residents convenient access to Interstate 5, State Route 529, and State Route 9, providing seamless connectivity throughout Snohomish County and the greater Seattle metropolitan area. Marysville continues to benefit from strong population growth, expanding infrastructure, and increasing demand for quality rental housing. With a diversified employment base, limited multifamily supply, and continued economic investment throughout the North Puget Sound region,
The Cove Apartments represents an outstanding opportunity to acquire a high-performing asset with immediate cash flow, meaningful recent improvements, and long-term investment potential