Inspector · Worcester, MA · Member since 2013 · 85 posts · 39 votes
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.
Thanks so much for sending this across. At this time, this doesn't fit our investment Criteria. We would be interested in the storage if the seller, or eventual buyer decides to carve out those parcels.