Property Details
8509 244th Street SW
Edmonds, WA 98026
$7,150,000
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Property Overview
The Nyland Apartments, a 19-unit multifamily investment opportunity located in highly desirable Edmonds, Washington. Completed in 2021, this charming residential community offers investors the rare chance to acquire a newly constructed property in one of the Puget Sound's most coveted and supply-constrained submarkets. The property sits on approximately one acre of land (51,000+ square feet) zoned for multifamily use, providing long-term flexibility and redevelopment potential in a rapidly growing suburban environment. The Nyland Apartments feature spacious units averaging 783 square feet with high-end interior finishes including: stainless steel appliances, granite countertops, vinyl flooring, and marble-inspired surfaces throughout. Residents benefit from modern living amenities such as air conditioning, in-unit washer and dryer, walk-in closets, and private patios or balconies compelling opportunity for investment.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Snohomish
Neighborhood
Edmonds
Listed
Jul 13, 2026
Structure Type
Multi Family
Parcel Number
00463303200303
Tax & HOA
Annual Property Tax
$42,747 (2025)
Est. Monthly Tax
$3,562/mo
Financial Summary
Net Operating Income
$387,859
Gross Scheduled Income
$523,800
Gross Rent Multiplier
5.42
Total Expenses
$159,991
Vacancy Rate
5.0%
Building & Use
Building Sq Ft
14,870
Leasable Area
14,870 sqft
Total Units
19
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
29,185 sqft
Year Built
2021
Exterior & Lot
Lot Size
0.67 sqft
Year Built
2021
Garage
3 spaces
Exterior Materials
Cement Plank, Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Paved
Exterior Features
Cement Planked, Wood Products
Community & Access
Directions
Hwy 99 to 244th St SW – West one block behind Arby's and Denny's
Location
City
Edmonds
County
Snohomish
Coordinates
47.77852, -122.34809
Additional Information
Tax Year
2025
Annual Taxes
$42,747
Possession
Array
Based on information submitted to the MLS GRID as of July 29, 2026 2:21 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.
