Whidbey Multiplex-$2.6m-Seller Financing Available! Clinton, WA

[Kelsy Soderlund]

Just a half mile away from the Mukilteo-Clinton ferry, this established Whidbey Island multiplex has 19 residential units and 107 self-storage units as well as the opportunity for additional developments.

The residential buildings include three 3,200+ sq. ft. fourplexes and one 5,828 sq. ft. sevenplex. All units are two bed, one bath. Each building has one or two dedicated coin-op laundry rooms. Multiple units feature peek-a-boo views of Puget Sound and Everett. Many of the units are currently rented below market value which gives room for improvement.

The storage facilities include two separate buildings, an 11,500 sq. ft. heated facility with 67 units and a 2,864 sq. ft. unheated facility with 40 units. There is development potential for another 3,850 sq. ft. storage facility. Plans were completed and approved but will need to be reapproved by the county before construction.

Purchase Price	$2,600,000	Down Payment	$1,425,000
Gross Scheduled Income	$284,000	Seller Carryback	$1,175,000
Expenses	$73,454	Interest Rate	3.5%
NOI	$210,646	Balloon Date	7 years
CAP	8.1%	1st Year Cash on Cash Return	14.4%