exclusively offered by berkadia seattle
22-Unit Historic Turnkey Asset in Downtown Everett
2501 Colby Ave
Everett, WA 98201
Highlights$4.715M
List Price
22
Total Units
1908
Built
15,081
NRSF
2024
Renovated
investment highlights
Fully occupied with zero delinquency, Heritage Manor offers a rare investment opportunity in Everett’s thinly traded market, due to limited inventory.
Heritage Manor has preserved its historic charm as a 1908 build, while residents enjoy fully renovated units with stainless steel appliances, quartz countertops, and new flooring throughout 20 of the 22 units.
The current ownership has invested over $500,000 in renovations, including; a new TPO roof, new water tanks, electrical upgrades to light fixtures, outlets, heaters & fans, as well as partial plumbing updates.
Heritage Manor consists entirely of one-bedroom units with a den, offering a potential second primary bedroom or living space, across varying square-footage.
Building amenities include community laundry, onsite storage, controlled building access, and 21 reserved tenant surface parking spots in addition to ample street parking.
Located near Naval Station Everett, Heritage Manor benefits from steady rental demand from military personnel in addition to the 40,000 jobs supported by the Port of Everett.
Heritage Manor benefits from strong renter demographics, with 47% of housing units renter occupied, compared to 38% in Seattle MSA, as well as 67% of workers are in white-collar positions.
value-add opportunity near light rail
Unit Mix
Unit SF
Rent
Rent
Small
Renovated Medium
Renovated Large
Property Overview
Heritage Manor
- ADDRESS
- CITY, STATE ZIP
- PRICE
- YEAR BUILT
- YEAR RENOVATED
- UNITS
- T-12 CAP RATE
- 2026 Budget Cap
- MARKET CAP RATE
- PARCEL
- LOT SIZE
- ZONING
- COUNTY
location

photo gallery
PRIMARY CONTACT
INVESTMENT SALES
mortgage banking
offices in bellevue & seattle
bellevue
411 108th Avenue NE
Suite 1080
Bellevue, WA 98004
206.521.7220
seattle
601 Union Street
Suite 3720
Seattle, WA 98101
206.521.7220
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