Heritage Manor Everett

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exclusively offered by berkadia seattle

22-Unit Historic Turnkey Asset in Downtown Everett

2501 Colby Ave Everett, WA 98201

highlights

$5M

List Price

total units

market cap rate

6.39%

year renovated

2024

renovated cap rate

6.46%

investmenthighlights

Due to limited inventory, Heritage Manor offers a rare investment opportunity in Everett’s thinly traded market. 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.

historic turnkey asset near future light rail station

Mitchell Belcher

Managing Director425.891.9594mitchell.belcher@berkadia.com

Steven chattin

Managing Director425.269.3826steven.chattin@berkadia.com

jay timpani

Managing Director206.999.3206jay.timpani@berkadia.com

chad blenz

Senior Director206.491.2008chad.blenz@berkadia.com

brandon lawler

Senior Director206.484.8114brandon.lawler@berkadia.com

offices in bellevue & seattle

bellevue

411 108th Avenue NE Suite 1080 Bellevue, WA 98004 206.521.7220

seattle

601 Union Street Suite 3909 Seattle, WA 98101 206.521.7220

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overview

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avg unit size

576 SF

Market cap rate

6.78%

year built

1925

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada. © 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.

Primary contact

Chad Blenz

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