Property Details
15328 40th Avenue W
Lynnwood, WA 98087
$969,000
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Property Overview
New Price! Attractive 4-plex ideally located near Hwy 99, I-5, & 405. Enjoy a desirable unit mix of 3 – 2 bed, 1 bath units and 1 – 1 bed, 1 bath unit. Recent upgrades to units 2-4 include newer flooring, newer interior paint, and partial cabinet (newer in unit 4, refreshed in units 2 & 3 with newer paint and hardware), countertop, trim, & light fixture upgrades, as well as many updated appliances. Upper units have a small deck and the lower units are adjacent to a small yard. 8 parking spaces (2 per unit!). Common laundry provides additional income. A flexible asset with the ability to immediately owner-occupy, or use as a long-term hold with good cashflow + additional upside potential through operational improvements.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Snohomish
Neighborhood
Lynnwood
Listed
Jun 15, 2026
Structure Type
Quadruplex
Parcel Number
00372901102104
Tax & HOA
Annual Property Tax
$7,822 (2025)
Est. Monthly Tax
$652/mo
Financial Summary
Cap Rate
5.11%
Net Operating Income
$49,524
Gross Scheduled Income
$78,444
Gross Rent Multiplier
12.35
Total Expenses
$24,998
Vacancy Rate
5.0%
Building & Use
Building Sq Ft
3,248
Leasable Area
3,080 sqft
Total Units
4
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
9,583 sqft
Year Built
1966
Exterior & Lot
Lot Size
0.22 sqft
Year Built
1966
Exterior Materials
Metal/Vinyl
Sewer
Sewer Connected
Water Source
Public
Lot Features
Dead End Street, Paved
Exterior Features
Metal/Vinyl
Community & Access
Directions
GPS works!
Location
City
Lynnwood
County
Snohomish
Coordinates
47.85953, -122.28767
Additional Information
Tax Year
2025
Annual Taxes
$7,822
Possession
Array
Based on information submitted to the MLS GRID as of June 17, 2026 2:00 AM. 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.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
