533 4th Ave S - Apartments FOR SALE


Edmonds, WA 98020
$1,850,000 USD
425-444-6501
533 4th Ave S, Edmonds, WA for Sale
$1,850,000 USD
Apartments - FOR SALE
1/12
null | 2.74% Cap Rate

533 4th Ave S
Edmonds, WA 98020


HIGHLIGHTS

  • Premier Edmonds Bowl location - Blocks to Downtown Edmonds and the Puget Sound
  • 6 off-street parking spaces, on-site storage and laundry room
  • Attractive mid-century design with courtyard with Downtown and Puget Sound views from the top floor
  • Attractive low-maintenance brick veneer with recently painted cedar siding, new PVC roof, and updated electrical panels and dual-pane windows
  • Attractive mid-century design with courtyard on quiet charming street with a mix of single-family rentals, condos, and multifamily
  • Spacious floor plans with multiple closets and dining areas; 3 units with dishwashers and 2 with in-unit laundry

OVERVIEW

Located in the heart of the Edmonds Bowl neighborhood, this apartment community offers investors a rare opportunity to acquire a well-positioned asset just blocks from Downtown Edmonds and the Puget Sound. The property’s walkable location provides tenants with convenient access to restaurants, shops, waterfront parks, and transit. Originally built in 1960, the property features classic mid-century design centered around a charming courtyard setting. Its durable brick veneer exterior, complemented by a new roof, recently painted cedar siding, and updated dual-pane windows, provides both curb appeal and low-maintenance ownership. All 6 units have updated electrical panels. The property is comprised of 6 units, including four 1-bed and two 2-bed homes. Top-floor units enjoy sweeping views of Downtown Edmonds and the Puget Sound. Residents benefit from 6 off-street parking spaces, on-site storage, and a shared laundry facility. Two units received recent remodels including in-unit laundry, and three units have dishwashers, refinished oak floors, quartz counters, and updates to kitchens and baths. This asset presents the likely opportunity for significant upside, simply by increasing rents to market levels and implementing a utility bill-back system. With its premier location, strong fundamentals, and clear path to upside, this property represents an exceptional opportunity for investors seeking both stability and growth in one of Snohomish County’s most desirable rental markets.

FOR SALE DETAILS

PRICE

$1,850,000 USD

PRICE/SF

$430 USD /SF

# OF UNITS

6

PRICE/UNIT

$308,333

CAP RATE

2.74%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

RM-2.4

APN/PARCEL ID

004096-002-002-00

ASK ABOUT THIS PROPERTY

Dan SwansonKidder MathewsMore Info
425-444-6501

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Dan SwansonKidder MathewsMore Info
425-444-6501

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