The Savvy Investor’s Top 3
Here’s what apartment investors in Snohomish need to know this month.
Interest rates fall to their lowest levels since September of last year
With the government getting a handle on inflation we’ve seen rates fluctuate between 5 & 6 percent.
Light Rail news: Mountlake Terrace & Lynnwood Opening mid-2024
If you’ve driven I-5 N you’ve undoubtedly seen the construction crews working every day. Riders will be able to reliably travel from Lynnwood to Downtown Seattle in 28 min.
WA Lawmakers curbing rent hikes?
Washington’s Legislation is debating to limit annual rents increases for apartment rents throughout the state. Seattle has a 9.9% limit before an economic displacement relocation assistance is triggered.
In Q3, Snohomish saw its lowest cap rate within the last 10 years at 4.3% per sale. Moreover, investors were willing to pay a premium for properties with the highest dollar per unit ($280,000). And, after a record-breaking 2021 ($1.3 billion), Snohomish is on track to approach $1 billion in sales. In particular, investors looking outside of Seattle and its jurisdiction tend to focus on expanding cities, such as Lynnwood, Monroe, Lake Stevens, and more.