Property Details
520 O Avenue
Anacortes, WA 98221
$699,000
Active
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Property Overview
Located in the core of Anacortes, this updated multi-unit property puts you just steps from downtown shops, dining, and the waterfront. Recent improvements include granite countertops, fresh flooring, and new exterior siding, creating a clean, modern feel throughout. The flexible Central Business District zoning opens the door to multiple paths—hold as an income property, enhance the existing layout, or explore future redevelopment options under current zoning guidelines. The street-level unit offers two bedrooms, one bathroom, washer and dryer hookups, and ADA access. Upstairs, a private entrance leads to a one-bedroom, one-bath unit with a full kitchen. No setbacks or driveway parking required (buyer to verify).
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Skagit
Neighborhood
Old Town
Listed
Dec 12, 2025
Original Price
$725,000
Structure Type
Duplex
Parcel Number
P55325
Tax & HOA
Annual Property Tax
$4,335 (2025)
Est. Monthly Tax
$361/mo
Financial Summary
Cap Rate
5.07%
Net Operating Income
$37,965
Gross Scheduled Income
$43,800
Gross Rent Multiplier
16.55
Total Expenses
$6,183
Building & Use
Building Sq Ft
1,508
Leasable Area
1,508 sqft
Total Units
2
Lot Size
3,049 sqft
Year Built
1999
Exterior & Lot
Lot Size
0.07 sqft
Year Built
1999
Exterior Materials
Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Corner Lot, Paved, Sidewalk
Exterior Features
Wood Products
Community & Access
Directions
Drive west on State Route 20, continue on WA-20 Spur, right on R Ave, continue on Q Ave, left on 6th St, right on 0 Ave and home will be on the left.
Location
City
Anacortes
County
Skagit
Coordinates
48.51763, -122.61430
Additional Information
Tax Year
2025
Annual Taxes
$4,335
Possession
Array
Based on information submitted to the MLS GRID as of June 15, 2026 8:30 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.
