NOT LISTED FOR SALE

2515 Melvin Ave Unit A-D Everett, WA 98203

Pinehurst Neighborhood

Estimated Value: $1,079,000 - $1,172,000

8 Beds
4 Baths
3,192 Sq Ft
$358/Sq Ft Est. Value

Last Sold July 02, 2020

Last sale price $750,000 $235 Per Sq Ft

Est. 52% increase in value since last sale

Current estimated payment $6,981/month

23 Days on Market

Highlights

  • Territorial View
  • High Speed Internet
  • Wall to Wall Carpet

About This Home

As of July 2020

Rare opportunity to own a turn key investment property or live in one unit and let the other units make your payment. This 4-plex is ready to go. Units are 2 bed/1 bath with wood burning fire places, in-unit washer/dryer, and covered carport parking. Excellent cap rate, good rents, and very low maintenance, all the hard work has been done. Great location close to Boeing Everett and I-5. this is the perfect property for the seasoned investor or someone looking for their first investment property.

Last Agent to Sell the Property

Scott Schrecengost

NextGen Real Estate Advisors License #26484 Listed on: 04/10/2020

Last Buyer's Agent

Avery Leverett

Preferred Property Mgmt NW License #126977

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 1588746

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,677

Year Built

  • Built in 1989

Lot Details

  • 6,534 Sq Ft Lot
  • Street terminates at a dead end
  • Property is in good condition

Home Design

  • Quadruplex
  • Slab Foundation
  • Poured Concrete
  • Composition Roof
  • Wood Composite

Interior Spaces

  • 3,192 Sq Ft Home
  • 2-Story Property
  • Territorial Views

Flooring

  • Wall to Wall Carpet
  • Vinyl

Parking

  • 6 Parking Spaces
  • Open Parking

Utilities

  • High Speed Internet

Community Details

  • Pinehurst Subdivision

Listing and Financial Details

  • Tax Lot 7
  • Assessor Parcel Number 00544701500701

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,677

Year Built

Built in 1989

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 54 - 4-Plex
  • Year Built: 1989
  • Buyer Agency Compensation: **2.5**
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 3192
  • EffectiveYearBuiltSource: Public Records
  • Special Features: None
  • Cumulative Days on Market: 308

Interior Features

  • Possible Use: Multi-Family
  • Fireplace: No
  • Flooring: Vinyl, Carpet
  • Interior Amenities: Wall to Wall Carpet
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0

Exterior Features

  • Roof: Composition
  • View: Territorial
  • Lot Features: Dead End Street
  • View: Yes
  • Waterfront: No
  • Exterior Features: Wood Products
  • Foundation Details: Poured Concrete, Slab
  • Property Condition: Good
  • Structure Type: Quadruplex

Garage/Parking

  • Carport Spaces: 4
  • Carport Y N: No
  • Open Parking Spaces: 2
  • Open Parking: Yes
  • Total Parking Spaces: 6
  • ParkingUncoveredSpaces: 2

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Heating Yn: Yes
  • Utilities: High Speed Internet, Sewer Connected, Electric
  • PowerCompany: Snohomish County PUD
  • SewerCompany: Everett Public Works
  • WaterCompany: Everett Public Works
  • WaterSewerGarbage: 4093

Condo/Co-op/Association

  • Senior Community: No

Schools

  • Junior High Dist: Everett

Lot Info

  • Parcel Number: 00544701500701
  • Lot Size Acres: 0.15
  • Lot Size Sq Ft: 6534
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: High Speed Internet
  • MLSLotSizeSource: SCR
  • ZoningJurisdiction: City
  • ZoningClass: Multi-Family
  • LotNumber: 7

Green Features

  • Power Production Type: Electric

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 7
  • LeasedItems: None
  • TotalMonthlyIncome: 3420

Multi Family

  • Gross Scheduled Income: 56040
  • Net Operating Income: 41529
  • Number Of Units Total: 4
  • Insurance Expense: 1353
  • Leasable Area: 3192
  • EnergySource: Electric
  • UnitsInBuildingTotal: 4
  • UnitsBelowGrade: false
  • VacancyRate: 5

Tax Info

  • Year: 2019
  • Tax Annual Amount: 6677

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 10, 2020
Closed on
Jun 23, 2020
Sold by
Laurance Steven J
Bought by
Blue Randal Wane
Seller's Agent
Scott Schrecengost
NextGen Real Estate Advisors
Buyer's Agent
Avery Leverett
Preferred Property Mgmt NW
List Price
$775,000
Sold Price
$750,000
Premium/Discount to List
-$25,000
-3.23%
Current Estimated Value
$1,141,284

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$391,284
Avg. Annual Appreciation
8.27%
Original Mortgage
$600,000
Outstanding Balance
$541,154
Interest Rate
3.2%
Mortgage Type
New Conventional
Estimated Equity
$573,686

Purchase Details

Closed on
Sep 25, 2012
Sold by
Burr Kenneth A and Burr Shelly G
Bought by
Laurance Steven J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$324,240
Interest Rate
3.25%
Mortgage Type
FHA

Purchase Details

Closed on
Mar 26, 2002
Sold by
Burr Shelley G
Bought by
Burr Kenneth A and Burr Shelley G

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$168,900
Interest Rate
6.84%

Purchase Details

Closed on
Mar 6, 1997
Sold by
Burr Kenneth A
Bought by
Burr Shelley G

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$169,600
Interest Rate
7.81%
Mortgage Type
Balloon
Source: Public Records

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Blue Randal Wane $750,000 Cw Title Bh
Laurance Steven J $336,280 First American
Burr Kenneth A -- --
Burr Shelley G -- --
Burr Shelley G $212,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Blue Randal Wane $100,000
Open Blue Randal Wane $600,000
Previous Owner Laurance Steven S $478,000
Previous Owner Laurance Kristin Joy $125,000
Previous Owner Laurance Steven J $324,240
Previous Owner Burr Kenneth A $232,000
Previous Owner Burr Kenneth A $232,950
Previous Owner Burr Kenneth A $168,900
Previous Owner Burr Shelley G $169,600
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/02/2020 07/02/20 Sold $750,000 -3.2% $235 / Sq Ft
05/03/2020 05/03/20 Pending -- -- --
04/27/2020 04/27/20 For Sale $775,000 0.0% $243 / Sq Ft
04/15/2020 04/15/20 Pending -- -- --
04/10/2020 04/10/20 For Sale $775,000 -- $243 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $7,772 $889,500 $300,200 $589,300
2024 $7,772 $903,800 $288,400 $615,400
2023 $6,891 $838,000 $268,400 $569,600
2022 $6,857 $748,000 $218,600 $529,400
2020 $7,933 $706,000 $184,300 $521,700
2019 $6,677 $598,000 $147,200 $450,800
2018 $6,334 $520,000 $85,500 $434,500
2017 $5,014 $410,000 $85,500 $324,500
2016 $4,317 $371,000 $85,500 $285,500
2015 $4,324 $350,000 $83,900 $266,100
2013 $4,689 $335,000 $76,200 $258,800
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 1588746

Northwest Multiple Listing Service (NWMLS)

APN: 005447-015-007-01