Property Details
318 3rd Avenue S
Edmonds, WA 98026
$1,300,000
Active
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Property Overview
Edmonds Bowl Triplex is being offered for the first time in over 45 years, presenting a rare opportunity to acquire a well-located asset in one of Edmonds’ most desirable neighborhoods. Seller financing is available for qualified buyers with flexible terms—please reach out for details. Ideally positioned in the heart of Downtown Edmonds, just blocks from Main Street and the waterfront, this property offers exceptional walkability and long-term tenant appeal. Upper-level units feature attractive water, mountain, and territorial views, further enhancing desirability. The property showcases classic mid-century architecture centered around a private courtyard, creating a unique and inviting atmosphere for residents. Additional amenities include common laundry, storage, five off-street parking stalls, and a spacious two-car garage. This is a compelling value-add opportunity with clear upside through interior upgrades and operational improvements. With an irreplaceable location, strong existing fundamentals, and multiple paths to increased income, this offering is ideal for investors seeking stability, upside, and long-term appreciation.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Snohomish
Neighborhood
Edmonds Bowl
Listed
May 12, 2026
Financial Summary
Cap Rate
4.47%
Net Operating Income
$58,132
Gross Scheduled Income
$80,469
Gross Rent Multiplier
16.20
Total Expenses
$21,532
Vacancy Rate
1.0%
Building & Use
Building Sq Ft
3,584
Leasable Area
3,584 sqft
Total Units
3
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
8,712 sqft
Year Built
1962
Exterior & Lot
Lot Size
0.20 sqft
Year Built
1962
Garage
3 spaces
Exterior Materials
Wood
Sewer
Sewer Connected
Exterior Features
Wood, Wood Products
Location
City
Edmonds
County
Snohomish
Coordinates
47.80815, -122.38069
Additional Information
Tax Year
2025
Annual Taxes
$9,311
Possession
Array
Based on information submitted to the MLS GRID as of May 12, 2026 7:15 PM. 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.
