6325 Evergreen Way, Everett, WA 98203 (MLS # 2479732)

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Listing provided courtesy of Northwest MLS; KW Everett

PRICE $2,400,000 dsIDX morgage calculator
BEDS 0
BATHS 0
HOME SIZE 11,895 sqft
LOT SIZE 11,762 sqft
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FLAGSHIP EVERETT 2044 REDEVELOPMENT | MU-7 (2-STORY) | 5.44% CAP. Unparalleled investment opportunity featuring a strategic 2-parcel assemblage in Everett's premier high-growth corridor. This combined footprint represents a premier "Covered Land Play," delivering immediate cash flow with a stable 5.44% In-Place Cap Rate. VALUE-ADD & STABILITY: With 16 existing units (Retail Storefronts + Apartments), the asset provides strong, steady income to offset carrying costs during the entitlement phase. Rents are currently significantly below market, providing a clear value-add opportunity to immediately increase NOI and yield while pursuing future development.Under utilized basement and storage rooms. THE ASSEMBLAGE ADVANTAGE: This 2-parcel footprint provides the critical depth and scale necessary for institutional-grade mid-rise construction. Unlock maximum unit yield and optimized parking configurations under new TOD mandates. Single-lot sites in this corridor cannot achieve this level of Floor Area Ratio (FAR) potential. EVERETT 2044 VISION: Positioned in the newly adopted MU-7 (Mixed Urban, 7-story) growth corridor. Located on a high-visibility arterial (30k+ VPD) steps from future Sound Transit Light Rail. Capitalize on Everett's blueprint for density in a submarket primed for transformation. Sold as-is. Buyer to verify all development yield.

LAST UPDATED 2/12/2026 TRACT Evergreen
YEAR BUILT 1968 COMMUNITY Evergreen
GARAGE SPACES 6.0 COUNTY Snohomish
STATUS Active PROPERTY TYPE(S) Multi Family


ADDITIONAL DETAILS
AIR None
AREA 740 - Everett/Mukilteo
GARAGE Yes
HEAT Electric
LOT 0.27 acre(s)
LOT DESCRIPTION Paved, Sidewalk
MLS STATUS Active
STORIES 2
STYLE 56 - 10+ Units
SUBDIVISION Evergreen
TAXES 11541
UTILITIES Sewer Connected
VIEW Yes
VIEW DESCRIPTION Territorial
WATER Public
ZONING Commercial
MORTGAGE CALCULATOR
   

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Properties with the Logo icon are courtesy of Northwest MLS.

Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 4/15/26 6:54 AM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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. 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.

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