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March 8, 2012

TeamBuilder John L. Scott

TeamBuilder JLS is marketing a bulk sale of 20 bank-owned condos in Lake Stevens for Union Bank. The list price is $3.5 million. The detached condos were built in 2008 in Chapel Ridge at 9949 Third St. N.E. Joey Ferrick of TeamBuilder JLS said his company has several offers. Units range in size from about 1,550 square feet to nearly 1,870 square feet, and each has a two-car garage. Two are occupied. The pre-tax cash-on-cash return is estimated at about 10.25 percent with pro forma based on rents of $1 a square foot.




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