Property Details
324 3rd Avenue S
Edmonds, WA 98020
$1,500,000
Active
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Property Overview
Edmonds Bowl 5 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. Sellers are open to Seller Financing terms from qualified buyers. Please reach out for terms. Upper-level units offer attractive water, mountain, and territorial views, enhancing overall tenant appeal. The building 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.
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
4.07%
Net Operating Income
$61,006
Gross Scheduled Income
$94,065
Gross Rent Multiplier
15.90
Total Expenses
$28,356
Vacancy Rate
5.0%
Building & Use
Building Sq Ft
3,750
Leasable Area
3,750 sqft
Total Units
5
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
8,712 sqft
Year Built
1959
Exterior & Lot
Lot Size
0.20 sqft
Year Built
1959
Garage
2 spaces
Exterior Materials
Brick, Wood
Sewer
Sewer Connected
Exterior Features
Brick, Wood, Wood Products
Location
City
Edmonds
County
Snohomish
Coordinates
47.80798, -122.38069
Additional Information
Tax Year
2025
Annual Taxes
$11,443
Possession
Array
