Listed by COMPASS
$5,000,000

2501 Colby Ave Everett, WA 98201

Bayside Neighborhood

Estimated payment $30,181/month

Total Views 3,686
-- Bed
-- Bath
15,081 Sq Ft
$332 Price per Sq Ft

Highlights

  • 0.32 Acre Lot
  • Corner Lot
  • Vinyl Plank Flooring
  • Whittier Elementary School Rated A
  • No HOA
  • 4-minute walk to Clark Park

About This Home

Turnkey 22-unit investment opportunity in downtown Everett! Built in 1908 and fully renovated in 2024, Heritage Manor blends historic charm with modern updates. Renovations include new TPO roof, updated electrical, water heaters, flooring, and stylish interiors with quartz countertops and stainless steel appliances. All units are 1-bed + den layouts, ideal for flexible living. Amenities include controlled access, on-site laundry, and 21 reserved parking spaces. Strong tenant base near Naval Station Everett, Port of Everett, and the future light rail station. Market cap rate up to 6.46%. With limited inventory and over $500K in capital improvements, this asset offers immediate cash flow and long-term upside.

Listing Agent

Rachel Harwood

COMPASS License #23028967 Listed on: 06/18/2025

COMPASS

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2394216

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $33,658

Year Built

  • Built in 1908

Lot Details

  • 0.32 Acre Lot
  • Corner Lot
  • 005171-562-004-00,517156-2-001-00-00,517156-2-004-00-07

Home Design

  • Flat Roof Shape
  • Brick Exterior Construction
  • Poured Concrete

Interior Spaces

  • 15,081 Sq Ft Home
  • 3-Story Property

Flooring

  • Carpet
  • Vinyl Plank

Parking

  • 21 Parking Spaces
  • Open Parking

Utilities

  • Radiator
  • Baseboard Heating
  • High Speed Internet
  • Cable TV Available

Community Details

  • No Home Owners Association
  • Everett Subdivision

Listing and Financial Details

  • Assessor Parcel Number 00517156200100

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$33,658

Year Built

Built in 1908

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • StyleCode: 56 - 10+ Units
  • Year Built: 1908
  • MLS Status: Active
  • Prev Status: Active
  • New Construction: No
  • CalculatedSquareFootage: 15081
  • Special Features: None
  • Cumulative Days on Market: 52

Interior Features

  • Possible Use: Multi-Family
  • Fireplace: No
  • Flooring: Vinyl Plank, Carpet
  • Stories: 3
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • BathsFullUpper: 0
  • BathsHalfUpper: 0
  • BathsThreeQuarterUpper: 0
  • BedroomsUpper: 0
  • Amenities: Coin Op Laundry,Storage

Exterior Features

  • Roof: Flat
  • Lot Features: Alley, Corner Lot, Paved, Sidewalk
  • View: No
  • Waterfront: No
  • Construction Type: Brick
  • Exterior Features: Brick
  • Foundation Details: Poured Concrete
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Open Parking Spaces: 21
  • Open Parking: Yes
  • Total Parking Spaces: 21
  • ParkingUncoveredSpaces: 21

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Cooling: None
  • Cooling Y N: No
  • Heating: Baseboard, Radiator
  • Heating Yn: Yes
  • WaterSewerGarbage: 21921

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: Everett

Lot Info

  • Parcel Number: 00517156200100
  • Lot Size Acres: 0.32
  • Lot Size Sq Ft: 13939
  • Additional Parcels Description: 005171-562-004-00,517156-2-001-00-00,517156-2-004-00-07
  • Zoning Description: Multi-Family
  • Irrigation Water Rights: No
  • ShowMapLink: true
  • SiteFeatures: Cable TV,High Speed Internet
  • MLSLotSizeSource: Public Records

Green Features

  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 11.14
  • LeasedItems: None
  • TotalMonthlyIncome: 35625

Multi Family

  • Gross Scheduled Income: 448709
  • Net Operating Income: 290249
  • Number Of Units Total: 2
  • Insurance Expense: 19000
  • Leasable Area: 15081
  • EnergySource: Electric
  • UnitsInBuildingTotal: 2
  • UnitsBelowGrade: true
  • VacancyRate: 5

Tax Info

  • Year: 2025
  • Tax Annual Amount: 33658.03

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/01/2025 08/01/25 Price Changed $1,750 0.0% $2 / Sq Ft
06/18/2025 06/18/25 For Sale $5,000,000 0.0% $332 / Sq Ft
04/01/2025 04/01/25 Price Changed $1,450 -3.3% $2 / Sq Ft
03/25/2025 03/25/25 Price Changed $1,499 -6.3% $2 / Sq Ft
03/18/2025 03/18/25 Price Changed $1,600 +1.6% $2 / Sq Ft
02/07/2025 02/07/25 Price Changed $1,575 -10.0% $2 / Sq Ft
02/06/2025 02/06/25 For Rent $1,750 -- --
Source: Northwest Multiple Listing Service (NWMLS)

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2394216

Northwest Multiple Listing Service (NWMLS)

APN: 00517156200100

Washington Snohomish County Everett 98201 Bayside

2501 Colby Ave, Everett, WA

This home is located at 2501 Colby Ave, Everett, WA 98201 and is currently priced at $5,000,000, approximately $331 per square foot. This property was built in 1908. 2501 Colby Ave is a home located in Snohomish County with nearby schools including Whittier Elementary School, North Middle School, and Everett High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Northwest Multiple Listing Service (NWMLS) 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. Listing information is provided by the Northwest Multiple Listing Service (NWMLS). Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with the 3 tree icon and provided by NWMLS. All properties are subject to prior sale or withdrawal. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID. ©2025 NWMLS.
Based on information submitted to the MLS GRID

Nearby Homes
Listing Agent
Rachel Harwood
Section Image
COMPASS
(206) 328-7200