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Provided by NWMLS, Listed by Tanner Fogle, 206-623-8880 at Paragon Real Estate Advisors
16,240 sqft

$4,850,000

7234 47th Avenue NE, Marysville WA, 98270

Price per sqft$298.65
Built in1967
Property size16,240 sqft
Property typeMulti-family

Overview

Active

Listed Jul 16, 2026

Updated 5 days ago

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.

$32,267/mo

Est. mortgage payment based on a $4,850,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
2555393

Interior Features

Heating
Yes
Basement
No

Exterior Features

Lot Size
0.95 Acres

Other Property Details

Taxes
$24,269
Tax Frequency
Annually
55+/Senior Community
No
MLS provider logo

Provided by NWMLS, Listed by Tanner Fogle, 206-623-8880 at Paragon Real Estate Advisors

The IDX display presents information sourced from the Northwest Multiple Listing Service as of 9/28/2026. The data is intended for personal, non-commercial use and should not be used for any other purpose except to identify potential properties for purchase. While the MLS data displayed is generally deemed reliable, it is NOT guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. The property locations displayed on any map are merely best approximations and exact locations should be independently verified. Based on information submitted to the MLS GRID as of 9/28/2026 at 9:02 PM UTC . 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.

©2026 Northwest Multiple Listing Service all rights reserved.

Data last updated on 9/28/2026 at 9:02 PM UTC 

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