$2,300,000
ActiveListing provided by Aaron Byrne, KW Everett
92
DOM
About this property.
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 $2,30,000 ($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 configurations, and institutional-grade mid-rise construction potential under Everett's new TOD mandates. This footprint is purpose-built for what's coming. EVERETT 2044 VISION: Zoned MU-7 (Mixed Urban, 7-Story) in Everett's designated high-density growth corridor. Positioned on a high-visibility arterial with 30,000+ VPD, steps from the future Sound Transit Light Rail station. The city's blueprint for density is written — this parcel is inside it.
Property details.
Agent information.
Schedule a Showing
Pick a day and time, and Austin will follow up to confirm.
By continuing, you consent to be contacted by Welcome to Whatcom and John L. Scott - Bellingham about this showing via call, text, or email.
Listed by: Aaron Byrne, KW Everett
Courtesy of KW Everett
Source: NWMLS, MLS#: 2475831
Listing data deemed reliable but not guaranteed. Based on information submitted to the MLS GRID as of 05/14/2026, 02:00:26 PST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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. Provided by NWMLS as distributed by MLS Grid.
IDX information is provided exclusively for consumers' personal, noncommercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID.
Any use or search of data on this website, other than by a consumer looking to purchase real estate, is prohibited.
Listed by Aaron Byrne, KW Everett
$2,300,000
Active6325 Evergreen Way , Everett, WA 98203
0.27
Lot Acres
1968
Year Built
92
Days on Market
About This Property
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 $2,30,000 ($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 configurations, and institutional-grade mid-rise construction potential under Everett's new TOD mandates. This footprint is purpose-built for what's coming. EVERETT 2044 VISION: Zoned MU-7 (Mixed Urban, 7-Story) in Everett's designated high-density growth corridor. Positioned on a high-visibility arterial with 30,000+ VPD, steps from the future Sound Transit Light Rail station. The city's blueprint for density is written — this parcel is inside it.
Property Details
Agent Information
Schedule a Showing
Pick a day and time, and Austin will follow up to confirm.
By continuing, you consent to be contacted by Welcome to Whatcom and John L. Scott - Bellingham about this showing via call, text, or email.
Listed by: Aaron Byrne, KW Everett
Courtesy of KW Everett
Source: NWMLS, MLS#: 2475831
Listing data deemed reliable but not guaranteed. Based on information submitted to the MLS GRID as of 05/14/2026, 02:00:26 PST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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. Provided by NWMLS as distributed by MLS Grid.
IDX information is provided exclusively for consumers' personal, noncommercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID.
Any use or search of data on this website, other than by a consumer looking to purchase real estate, is prohibited.