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Everett Duplex Property

I found this property for a Real Estate Client that's looking for rental properties, and trying to find those with the most potential. This is a revenue producing Duplex listed for $525,000, that has tenants currently paying $1,700/month per unit.

I noticed that the property has alley access and there's a lot of room behind the duplex. Although the size of the lot is under the minimum for building a new Duplex and DADU, I emailed the City of Everett Planning Department and asked if I could build a 3 car garage facing the alley with a 3 bedroom 2 bath 768 sf ADU above it. They replied and said yes, just so I could meet the other development standards.

I have this DADU designed already and have built it twice in Everett already (that's why I said 768 sf). This is a perfect opportunity to purchase an income property and continue collecting rent on the existing Duplex during the plan review and permit process.

Upon completion of the DADU, each of the 3 rental units would then have a covered parking stall as well as a surface parking spot. The rent for the existing units could then be increased by 10-15%, especially if you give them a quick cosmetic facelift! After all is complete the gross income on this property would be about $6,000/month.


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