$4,850,000
Est. $26,864/mo16,240 sq ft
7234 47th Avenue NE, Marysville, WA 98270
• Listed Jul 16, 2026•26 days active · 26 cumulative
Listing Broker: Paragon Real Estate Advisors; Tanner Fogle; 206-623-8880; Tanner@paragonrea.com
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Listing Broker: Paragon Real Estate Advisors; Tanner Fogle; 206-623-8880; Tanner@paragonrea.com
About this home
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.
Listed by Tanner Fogle • Paragon Real Estate Advisors
Listing updated: September 21, 2026 at 11:38pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2555393
Around this home
How much should you offer?
7234 47th Avenue NE, Marysville, WA 98270
Source:RexMont analysis of Northwest MLS sales data for this ZIP code plus third-party market data (RentCast). The estimates are RexMont's, not Northwest MLS listing data.
Estimates only and not guaranteed. Consult a RexMont agent for accurate, personalized guidance before making an offer. RexMont OfferEdge™ · © 2026 RexMont Real Estate. Proprietary tool.
Property details
Layout
- 10+ Units
Flooring
- Laminate
- Carpet
Heating & cooling
- Baseboard heating
- None cooling
Schools
Ratings via SchoolDigger- Liberty ElementaryPublic · Grades PK-6 · 0.3 mi · State rank 726 of 1,1384/10
- Totem Middle SchoolPublic · Grades 7-8 · 0.6 mi · State rank 478 of 5141/10
- Marysville NWESD 189 Youth EngagementPublic · Grades 10-12 · 0.6 mi—
Schools shown are the nearest public Elementary, Middle, and High school for this property and may not be the assigned schools. Verify attendance boundaries with the district before purchasing.
Multi-family facts
As entered by the listing broker on Northwest MLS
Units
- Total units
- 20
- Units below grade
- false
- Building square feet
- 16,240 sq ft
Income & expenses
- Gross scheduled income
- $483,801
- Total monthly income
- $40,317
- Additional monthly income
- $3,957
- Gross adjusted income
- $461,985
- Net operating income
- $332,777
- Cap rate
- 6.9%
- Gross rent multiplier
- 10.02
- Vacancy rate
- 5%
- Total expenses
- $126,834
- Insurance
- $8,692
- Other expenses
- $65,793
- Water / sewer / garbage paid by
- 28080
Taxes & assessment
- Annual taxes
- $24,269
- Tax year
- 2026
- Financing
- Cash, Conventional
Neighborhood mobility
Doorstep, Pedal & Station Scores
Three RexMont scores for this exact address: what is on foot, what is by bike, and what rides past the door.
Ground Truth™
The ground, the slope, the flood zone and the noise at this address
Read from public hazard, flood, terrain and noise maps for this exact home.
Address Insider™
The members' report
Commute, transit, zoning and ADU potential, internet providers and the lifestyle around the home: the nearest grocery, coffee, park, services and transit stop. One free registration opens every home on rexmont.com.
Opens with the report above.
Sales & Tax Records for 7234 47th Avenue NE
NWMLS via MLS Grid · Snohomish County AssessorEvery listing, pending, price change and closing filed on this home with the NWMLS, the county’s recorded sales, and its assessed values by tax year.
- Jul 16, 2026ListedNWMLS via MLS Grid · #2555393$4,850,000$299/sq ft
Mortgage payment forecast
$30,099 per month
Great rateTakes about 5 minutes & won't affect your credit
Get pre-approvedSource: RexMont estimate, not Northwest MLS listing data. Interest rates from Freddie Mac's Primary Mortgage Market Survey via FRED (Federal Reserve Bank of St. Louis). Property tax and HOA dues from the NWMLS listing where provided, otherwise estimated; insurance estimated at 0.3% of price per year.
Estimate only. Actual payment depends on credit, lender, and program. PMI not included for down payments below 20%.
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Listing Broker: Paragon Real Estate Advisors; Tanner Fogle; 206-623-8880; Tanner@paragonrea.com
Market pulse
Marysville is a balanced market.
Supply and demand are roughly in balance. Neither side has a clear edge.
Offer insight: Homes typically sell with one offer near asking price.
List to sale price: The average home sells very close to list price.
Time on market: The average home goes pending in around 65 days.
Recent sales nearby
Within 1 mile · last 6 months$825,000 Sold
1 week ago
•Single Family
938 Quinn Avenue, Marysville, WA 98270
3%
Under list
48
Days on market
0.3 mi
Distance
$530,000 Sold
2 weeks ago
3 bd•1.75 ba•~1,320 sq ft•Single Family
1709 2nd St, Marysville, WA 98270
1%
Under list
98
Days on market
0.8 mi
Distance
$539,000 Sold
3 weeks ago
3 bd•1.75 ba•~1,234 sq ft•Single Family
4307 80th Street NE, Marysville, WA 98270
0%
Over list
36
Days on market
0.5 mi
Distance
$498,000 Sold
6 weeks ago
3 bd•1.5 ba•~1,008 sq ft•Single Family
5613 Grove Street, Marysville, WA 98270
0%
Over list
42
Days on market
0.6 mi
Distance
$100,000 Sold
6 weeks ago
2 bd•1.75 ba•Single Family
7508 47th Avenue NE #12, Marysville, WA 98270
9%
Under list
125
Days on market
0.1 mi
Distance
Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
Want a deeper read on this market?
Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Oct 2026
Information and statistics derived from Northwest Multiple Listing Service. Source: Northwest Multiple Listing Service, as distributed by MLS GRID.
MLS GRID Disclaimer
Based on information submitted to the MLS GRID as of October 17, 2026 at 9:58 AM PT (date and time MLS GRID Data was obtained). 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.
Listing information courtesy of Northwest Multiple Listing Service (NWMLS). The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than RexMont Real Estate are marked with the “Listing courtesy of NWMLS” designation. Information provided is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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