Pending · Residential Income

16206 2nd Place W, Lynnwood, WA 98087-6620

Lynnwood, WA 98087

$1,050,000

— bedrooms · — bathrooms · 0 sq ft

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Listing provided by Windermere Real Estate/Summit · MLS #2583629 · Pending

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About this property

Investor alert: A durable, cash-flowing duplex in one of Snohomish County’s most rentable pockets — projected at approximately $69,780 in gross annual rent and a 5.23% cap rate, with upside as rents reset to market.Two ways to win: an established investor acquires a fully leased two-home asset with stable, diversified cash flow from day one. For someone stepping into multifamily for the first time, there is the possibility to live in one unit while the second covers much of your mortgage as a unit becomes available. This is a lower-risk entry into income property for a diverse set of investor profiles.The layout and location are a real assets, too: these are two full 3-bedroom, 2-bath homes — the size and layout people search for and stay in — with quick access to the region’s largest employers via the new light rail to Seattle and the Bellevue/Eastside corridor, keeping a broad, credit-worthy tenant pool competing for quality 3-bedroom rentals. Each home is built to lease fast and stay leased: attached two-car garage, in-unit full-size washer and dryer and a comfortable single-family-style layout.

Property details

Property type: Multi Family
Year built: 1990
Lot size: 19,602 sq ft
Association dues: $0 · frequency not provided
Annual property tax: $8,806 (2025)
Parking spaces: 4
School district: Edmonds

Listings courtesy of Northwest MLS as distributed by MLS GRID.

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