Woodhaven4632 Fowler Ave Everett, WA 98203
Acquired in 2016, this 107 unit property located in Everett was purchased through a receivership sale. Meter saw a unique value add play with significant upside. The buildings are in the middle of a major renovation which includes updating all units, exteriors and common spaces.
Meter in late 2017 completed a refinance of the property which allowed investors to recapture 90 percent of their original investment. We will do some additional renovation work to the property in 2018, we expect to see strong cash flow and plan to hold long term.