Duplex Depot - Duplex and MultiFamily Properties of Snohomish County » Lynnwood http://www.duplexdepot.com Duplex and Multi-Family Real Estate in Snohomish County Thu, 01 Jul 2010 13:24:50 +0000 en hourly 1 http://wordpress.org/?v=3.0 Duplex and Multi-Family Property Update for Everett & Lynnwood http://www.duplexdepot.com/62/everett-lynnwood-multifamily-statistics/ http://www.duplexdepot.com/62/everett-lynnwood-multifamily-statistics/#comments Sat, 21 Feb 2009 16:00:58 +0000 Jacquie Cliff - Real Estate Broker http://www.duplexdepot.com/62/everett-lynnwood-multifamily-statistics/ Winter is quickly fading and I expect we will see more properties coming onto the market as the grass starts to green up.  Here is a quick update on the state of the duplex and multi-family market in Everett and Lynnwood using the MLS information.

Everett Multi-Family Property Statistics

  Lowest Highest Average Average Sold Price
Duplex Properties $186,000 $565,000 $336,550 $299,000
3-5 unit Properties $174,900 $999,990 $492,915 $268,950
6+ Unit Multi Family $525,000 $1,599,000 $852,100 None in Last 90 Days

The sold figures for 3-5 unit multi-family properties in Everett were skewed slightly by the fact that there have only been 2 sold in the past 90 days, one of which was a tri-plex that closed at $199,900.  I suspect that it needed some work.  Listings that say ‘Needs TLC’ and ‘Buyer to waive form 17′ are usually in pretty rough shape or there are serious worries. 

Lynnwood Multi-Family Property Statistics

  Lowest Highest Average Average Sold Price
Duplex Properties $274,950 $597,500 $398,412 $370,000
3-5 unit Properties $409,000 $899,950 $589,725 $485,000
6+ Unit Multi Family None None None None in Last 90 Days

Prices in Lynnwood for duplex and multi-family properties is higher as you can see, with the age and condition of several of the Everett properties pulling the prices down.  One other thing to note is that there are 42 active duplex properties in Everett, and only 8 currently on the market in Lynnwood.

What I am seeing is that for investors with backing, there are some good deals to be made.  The one duplex sale that did happen in the last 90 days was only on the market 19 days and dropped from an initial price of $425,000 to a final selling price of $370,000.  At that price it most likely won’t break even if it is financed, unless of course there was a sizeable down payment.

If you are shopping in this area for a duplex or small multi-family property, my suggestion is to have your financing ready, and make some offers!  The market isn’t moving very fast, which means sellers need to compete if they want to sell.

When you are ready to get out there and start making some offers, give me a call at 425-773-3149 or send me an email at Jacquie@JacquieCliff.com and I will try not to have too good of a time beating up the sellers (proverbially) for you.  Of course if you are looking in areas other than Lynnwood and Everett for multi-family investments, I can take care of you there as well.  If you need and example, just check out my road trip to Aberdeen to look at a bunch of multi-family properties (which had positive cash flow!)

]]> http://www.duplexdepot.com/62/everett-lynnwood-multifamily-statistics/feed/ 0 Lynnwood Washington Duplex Properties http://www.duplexdepot.com/10/lynnwood-washington-duplex-properties/ http://www.duplexdepot.com/10/lynnwood-washington-duplex-properties/#comments Thu, 31 Jul 2008 04:31:34 +0000 Jacquie Cliff - Real Estate Broker http://www.duplexdepot.com/?p=10 Lynnwood is just North of Seattle, across the Snohomish County line, and offers a variety of duplex style rental properties. As of the time of this posting there are 11 duplex properties available in Lynnwood.  Duplex and rental properties in general in Lynnwood are preferable over properties in King county due to the differences in landlord/tenant law.

Lowest Priced Lynnwood Duplex: $359,900
Average Priced Lynnwood Duplex: $492,327
Highest Priced Lynnwood Duplex: $619,950

Average Time on the Market: 116 days

Since the beginning of 2008, 6 Lynnwood duplexes have sold with an average selling price of $435,667.

If you are interested in investing in duplex properties in Lynnwood Washington, please give me, Jacquie Cliff at 425-773-3149 or send an email with any questions or what you are looking for to Jacquie@jacquiecliff.com


Jacquie Cliff – The Amazon Negotiator
Real Estate Agent, Loan Officer and Real Estate Investor serving:
Lynnwood, Bothell, Mill Creek, Seattle, Bellevue, Marysville, Mountlake Terrace, Edmonds, Everett, Snohomish, Kirkland and the surrounding areas!

Call me with any of your real estate questions at 425-773-3149 or email me at Jacquie@jacquiecliff.com anytime!

Copyright © 2008 By Jacqueline A. Cliff, All Rights Reserved.
Lynnwood Washington Duplex Properties

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