Property Details
5208 188th Street SW
Lynnwood, WA 98037
$1,197,500
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Property Overview
Fantastically located triplex on a corner lot in Lynnwood short distance to light rail and all conveniences. Units are 2 bedroom and one and a half bath townhome style with washer and dryer. Pride of ownership with extensive improvements that include new electrical wiring, panels and plumbing throughout. The exterior was recently painted this spring. Roof was upgraded and replaced 9 years ago. This building has historically attracted long term tenancy.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Snohomish
Neighborhood
Lynnwood
Listed
May 19, 2026
Structure Type
Triplex
Parcel Number
00377900000900
Tax & HOA
Annual Property Tax
$8,386 (2026)
Est. Monthly Tax
$699/mo
Financial Summary
Cap Rate
4.99%
Net Operating Income
$59,850
Gross Scheduled Income
$80,964
Gross Rent Multiplier
14.80
Total Expenses
$17,065
Vacancy Rate
5.0%
Building & Use
Building Sq Ft
2,976
Leasable Area
2,976 sqft
Total Units
3
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
11,326 sqft
Year Built
1968
Exterior & Lot
Lot Size
0.26 sqft
Year Built
1968
Exterior Materials
Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Corner Lot
Exterior Features
Wood
Community & Access
Directions
From I-5: Take 196th St exit and head west. Take right on to 52nd Ave W to 188th St SW; building is on the SW corner.
Location
City
Lynnwood
County
Snohomish
Coordinates
47.82806, -122.30361
Additional Information
Tax Year
2026
Annual Taxes
$8,386
Possession
Array
Based on information submitted to the MLS GRID as of June 1, 2026 11:14 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.
