318 3rd Ave S - Apartments FOR SALE


Edmonds, WA 98020
$1,300,000 USD
206-948-3670
318 3rd Ave S, Edmonds, WA for Sale
$1,300,000 USD
Apartments - FOR SALE
1/20
null | 4.47% Cap Rate

318 3rd Ave S
Edmonds, WA 98020


HIGHLIGHTS

  • Excellent Edmonds Bowl location
  • Seller Financing available
  • Value add opportunity
  • Future development potential
  • Views from upper units
  • Adjacent 5 unit also for sale

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.

FOR SALE DETAILS

PRICE

$1,300,000 USD

PRICE/SF

$363 USD /SF

# OF UNITS

3

PRICE/UNIT

$433,333

CAP RATE

4.47%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Edmonds Triplex

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1962

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,712 SF

ZONING

RM1.5

APN/PARCEL ID

005304-000-006-00

ASK ABOUT THIS PROPERTY

Ryan IlesParagon Real Estate AdvisorsMore Info
206-948-3670

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Ryan IlesParagon Real Estate AdvisorsMore Info
206-948-3670

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.