49 Willow Lane, Mount Vernon, WA 98273
- $377,000
- 1,600
- SqFt
Listing Broker: Keller Williams Realty Bothell; Corey Crain; 425-422-7931; multifamilyspecialist@gmail.com Selling Office: Skyline Properties, Inc..
- Sold Price
- $377,000
- List Price
- $375,000
- Status
- SOLD
- MLS#
- 2577601
- Closing Date
- Sep 18, 2026
- Days on Market
- 1
- Style
- 53 - Tri-plex
- Building Condition
- Good
- Finished SqFt
- 1,600
- Area Total SqFt
- 1600
- Annual Tax Ammount
- 6314
- Lot Size (sq ft)
- 7,405
- Sewer
- Sewer Connected
Property Description
Three units at $125,000 per door. Two 1BR/1BA and one 2BR/1BA, all single-level with private entries on a 7,405 SF lot, minutes from I-5 and downtown Mount Vernon. 100% occupied. The opportunity is the rent gap. In-place rents total $2,575/month. Comparable Mount Vernon one-bedrooms are currently leasing between $1,380 and $1,600. At conservative market rents this property produces $44,400 annually, roughly $13,500 above today, with no change to the building. Self-managed by the same ownership since 2017. Owner pays water, sewer, garbage and common electric; tenants pay in-unit power. Off-street parking, fenced rear yard, single-story construction with no shared stairwells or common corridors. Seller-operated NOI $14,464. Pro forma NOI $26,464.
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Additional Information
- List Date
- 2026-09-17 00:00:00
- Community
- Mount Vernon
- Net Operating Income
- $13,717
- Gross Adjusted Income
- $29,355
- Gross Scheduled Income
- $30,900
- Total Monthly Income
- $2,575
- Insurance Expenses
- $4,127
- Water/Sewer/Garbage Expenses
- $5,022
- Gross Rent Multiplier
- 8
- Total Expenses
- $15,638
- Cap Rate
- 3.8
- Vacancy Rate
- 5
- Total Number of Units
- 3
- Unit Name
- 49
- Potential Terms
- Cash, Conventional, Farm Home Loan
- Year Built
- 1950
- Roof
- Composition
- Electric Expenses
- 175
- Energy Source
- Electric, Natural Gas
- School District
- Mount Vernon
- Total Monthly Income
- $2,575
- Gross Scheduled Income
- $30,900
- Vacancy Rate
- 5
- Gross Adjusted Income
- $29,355
- Tax Year
- 2026
- Insurance Expense
- $4,127
- W/S/G Expenses
- $5,022
- Total Expenses
- $15,638
- Net Operating Income
- $13,717
- Gross Rent Multiplier
- 8
- Cap Rate
- 3.8
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.