701 S 1st Street, Mount Vernon, WA 98273
- $2,300,000
- 13,100
- SqFt
Listing courtesy of Pettruzzelli Inc.
- List Price
- $2,300,000
- Status
- ACTIVE
- MLS#
- 2550902
- Days on Market
- 20
- Style
- 56 - 10+ Units
- Finished SqFt
- 13,100
- Area Total SqFt
- 13100
- Annual Tax Ammount
- 12015
- Lot Size (sq ft)
- 7,227
- Sewer
- Sewer Connected
Property Description
Fantastic investment opportunity in prime downtown Mount Vernon location. Fully rented, this 13,000 square foot property features a beloved, long-term retail tenant on the main floor with ample living space above. On the second floor you'll find a mix of 18 rental units which include full apartments and individual rooms along with communal kitchen, restrooms, and coin operated laundry. These units offer a great opportunity for low income housing and are in great demand. Located in the heart of downtown, this historic building is within easy walking distance of the Skagit Riverwalk, grocery stores, restaurants, the Lincoln Theatre, summer concerts, farmers markets, shops, and everything downtown Mount Vernon offers.
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Additional Information
- List Date
- 2026-07-06 21:29:14
- Community
- Downtown
- Net Operating Income
- $167,498
- Gross Adjusted Income
- $167,498
- Gross Scheduled Income
- $235,800
- Total Monthly Income
- $19,650
- Insurance Expenses
- $11,025
- Water/Sewer/Garbage Expenses
- $33,216
- Gross Rent Multiplier
- 9.75
- Total Expenses
- $68,302
- Cap Rate
- 7.28
- Total Number of Units
- 3
- Unit Name
- 701
- Potential Terms
- Cash, Conventional
- Year Built
- 1908
- Roof
- Flat, Torch Down
- Site Features
- High Speed Internet
- Other Expenses
- 12046
- Energy Source
- Electric, Natural Gas
- School District
- Mount Vernon
- Total Monthly Income
- $19,650
- Gross Scheduled Income
- $235,800
- Gross Adjusted Income
- $167,498
- Tax Year
- 2026
- Insurance Expense
- $11,025
- W/S/G Expenses
- $33,216
- Total Expenses
- $68,302
- Net Operating Income
- $167,498
- Gross Rent Multiplier
- 9.75
- Cap Rate
- 7.28
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.