324 3rd Ave S - Apartments FOR SALE


Edmonds, WA 98020
$1,500,000 USD
206-457-6775
324 3rd Ave S, Edmonds, WA for Sale
$1,500,000 USD
Apartments - FOR SALE
1/16
null | 4.07% Cap Rate

324 3rd Ave S
Edmonds, WA 98020


HIGHLIGHTS

  • Prime Edmonds Bowl location
  • Seller financing available
  • Surface and 2 garage spaces
  • Value-add opportunity
  • Future redevelopment potential
  • Adjacent triplex also for sale

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.

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$349 USD /SF

# OF UNITS

5

PRICE/UNIT

$300,000

CAP RATE

4.07%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Edmonds 5 Unit

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,712 SF

ZONING

RM15

APN/PARCEL ID

005304-000-007-00

ASK ABOUT THIS PROPERTY

Will DouglasParagon Real Estate AdvisorsMore Info
206-457-6775

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Will DouglasParagon Real Estate AdvisorsMore Info
206-457-6775

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