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Listed by: Tanner Fogle (206) 623-8880 , Michael Urquhart (206) 812-9123 | Paragon Real Estate Advisors (206) 623-8880
$4,850,000
Monthly Est:$24,140
28 Beds
20 Baths
16,240sqft
7234 47th Avenue NE, Marysville, WA 98270
$4,850,000
$24,140/moEst:
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Multi Family
Built in 1967
$-- HOA
41,382 sqft lot
$299/sq.ft
Description
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.
- Houzeo last checked: 12 hours ago
- Listing updated: September 22, 2026 at 6:38 am
- Source: Northwest Multiple Listing Service | MLS#: NWM2555393
Property Details
Status
Active
Type
Multi Family
No. of Stories
2
County
City
Neighborhood
Year Built
1967
HOA Fees
-
Finished Area
16,240 sqft
Lot Size
41,382 sqft lot
Basement Area
- sqft
MLS Name
Northwest Multiple Listing Service
MLS Number
NWM2555393
MLS Status
Active
Days on Market
79
Cumulative Days on Market
78
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Location
Facts & Features
Rooms
Bedrooms & bathrooms
Bedrooms: 28
Bathrooms: 20
Interior
Flooring
Laminate, Carpet
Exterior Features
Wood Products
Sewer
Available
Heating
Baseboard
Cooling
None
Construction
Year Built
Year Built: 1967
Home type
Multi Family
Roof
Composition
Foundation Details
Poured Concrete
Construction Materials
Wood
Utilities & Energy
Water Source
Public
Other Features
Subdivision Name
North Marysville
Price History
| Date | Event | Price |
|---|---|---|
07/16/2026 Source: | Listed for Sale | $4,850,000 $299/sqft |
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Based on information submitted to the MLS GRID by Northwest Multiple Listing Service as of Oct 02, 2026, 09:01AM. 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.
IDX information is provided exclusively for consumers’ personal, noncommercial use; it may not be used for any purpose other than to identify prospective properties that consumers may be interested in purchasing, that the data is deemed reliable, but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS, if any and as amended from time to time. © 2025 Northwest Multiple Listing Service. All Rights Reserved.
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