Active · Residential Income

7234 47th Avenue NE, Marysville, WA 98270

Marysville, WA 98270

$4,850,000

— bedrooms · — bathrooms · 0 sq ft

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Listing provided by Paragon Real Estate Advisors · MLS #2555393 · Active

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About this property

The Cove Apartments offers investors a compelling combination of strong in-place cash flow, recent capital improvements, and long-term upside in the growing Marysville market. The property has benefited from significant interior and exterior upgrades, including renovated apartment homes, in-unit washers and dryers in every unit, fresh exterior paint, updated signage, and ample on-site parking, creating a low-maintenance investment that continues to attract tenant demand. Currently operating at a strong 6.91% in-place cap rate, The Cove delivers exceptional day-one returns while offering future rental growth potential. Its functional unit mix, proven operational performance, and recent improvements provide stability and long-term value appreciation. Conveniently located near Interstate 5, State Route 529, and State Route 9, residents enjoy easy access to major employment centers throughout Snohomish County and the greater Seattle area. Supported by strong population growth, expanding infrastructure, limited multifamily supply, and sustained economic investment across the North Puget Sound region, The Cove Apartments represents an outstanding opportunity to acquire a well-positioned, income-producing asset with both immediate cash flow and long-term investment potential.

Property details

Property type: Multi Family
Year built: 1967
Lot size: 41,382 sq ft
Association dues: $0 · frequency not provided
Annual property tax: $24,269 (2026)
Parking spaces: 0
School district: Marysville

Listings courtesy of Northwest MLS as distributed by MLS GRID.

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