Property Details

318 3rd Ave S

Edmonds, WA 98020

$2,800,000

Available

CBA# 712684 courtesy of CBA Listing firm: Paragon Real Estate Advisors

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Commercial

Property Type

7,334

Bldg Sq Ft

Units

3.00%

Cap Rate

1959

Year Built

Property Overview

Edmonds Bowl 8 Unit, offered for the first time in over 45 years and Ideally situated in the heart of Downtown Edmonds, just blocks from Main Street and the waterfront. Consisting of a 5 unit building plus a triplex the properties can be purchased together or individually. Upper-level units offer attractive water, mountain, and territorial views, enhancing overall tenant appeal. The buildings showcases a classic mid-century design centered around a private courtyard, creating a unique and inviting living environment. Residents benefit from a common laundry and storage area, while ample off-street parking is provided via five surface stalls and a spacious two-car garage. This asset presents a compelling value-add opportunity with clear pathways to increasing rental income through interior upgrades and operational improvements. With its irreplaceable location, strong in-place fundamentals, and multiple avenues for value creation, this offering is well-suited for investors seeking a stable, well-located asset with significant long-term growth potential. Sellers are open to Seller Financing terms from qualified buyers. Please reach out for terms.