Everett Cove

JLL, as exclusive advisor, is pleased to present the outstanding opportunity to acquire Everett Cove (the “Property”), a 67-unit value-add garden-style apartment community in Everett, Washington, less than two miles from one of the state’s largest employers. Built in 1980, with condo-quality renovations completed in 2008, and 48 units renovated since 2022, Everett Cove comprises 67 apartment homes with a generous average unit size of 1,104 square feet, representing true “home-substitute” product. The Property features predominantly spacious two-bedroom, two-bathroom and two bedroom, two-and-a-half-bathroom floor plans, along with select one-bedroom units, and offers residents desirable amenities including a fitness center, clubhouse, BBQ area, courtyard with firepit, and covered parking.

While the Property includes a fractured condominium ownership component, the seller maintains control over all HOA voting decisions, ensuring operational continuity and streamlined decision-making for future ownership. Strategically positioned in one of the Seattle MSA’s most accessible submarkets, Everett Cove delivers exceptional connectivity to regional employment centers and premier retail destinations in a supply-constrained environment, where only one 50+ unit project has delivered within a four-mile radius since 2020 and none are under construction.