6325 Evergreen Way, Everett, WA 98203

Everett
Local realty services provided by:Better Homes and Gardens Real Estate Pacific Commons
Listed by: aaron byrne
Office: kw everett
MLS#:2479732
Source:NWMLS
6325 Evergreen Way,Everett, WA 98203
$2,300,000
  • - Beds
  • - Baths
  • 11,895 sq. ft.
  • Multi-family
  • Active

Price summary

  • Price:$2,300,000
  • Price per sq. ft.:$193.36

About this home

PRICE ADJUSTMENT -EVERETT 2044 REDEVELOPMENT | MU-7 (7-STORY) | 6.00% CAP RATE A rare 2-parcel assemblage in Everett's highest-velocity growth corridor — offered at $2,300,000 ($2,090,000 main building + $210,000 development parcel). This combined footprint is a textbook Covered Land Play: bankable cash flow today, transformational upside tomorrow. CASH FLOW + VALUE-ADD: 16 existing units — retail storefronts and apartments — deliver a proven 6.00% in-place cap rate at $2,090,000 against the main parcel. Rents sit materially below market, creating an immediate path to compress that gap and drive NOI higher from day one. Underutilized basement and storage areas represent untapped income with minimal capital outlay. THE ASSEMBLAGE ADVANTAGE: Two parcels deliver the depth and scale single-lot sites simply cannot replicate. The development parcel alone represents significant value at $310,000 for a 3,000 SF lot in this corridor. Unlock maximum Floor Area Ratio, optimized parking...

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Home facts

  • Year built:1968
  • Listing ID #:2479732
  • Updated:June 10, 2026 at 11:01 AM

Rooms and interior

  • Living area:11,895 sq. ft.

Structure and exterior

  • Roof:Built Up
  • Year built:1968
  • Building area:11,895 sq. ft.
  • Lot area:0.27 Acres
  • Lot Features:Paved, Sidewalk
  • Construction Materials:Cement/Concrete Exterior Finish

Utilities

  • Water:Public
  • Sewer:Sewer Connected

Finances and disclosures

  • Price:$2,300,000
  • Price per sq. ft.:$193.36
  • Tax amount:$11,541 (2025)

Parking

  • Total parking spaces:14
  • Garage:Yes
  • Garage spaces:6
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