318 3rd Avenue S, Edmonds, WA 98026
- $1,300,000
- 3,584
- SqFt
Listing courtesy of Paragon Real Estate Advisors.
- List Price
- $1,300,000
- Status
- ACTIVE
- MLS#
- 2521684
- Days on Market
- 75
- Style
- 53 - Tri-plex
- Finished SqFt
- 3,584
- Area Total SqFt
- 3584
- Annual Tax Ammount
- 9311
- Lot Size (sq ft)
- 8,712
- Sewer
- Sewer Connected
Property Description
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.
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Additional Information
- List Date
- 2026-05-12 19:07:14
- Community
- Edmonds Bowl
- Net Operating Income
- $58,132
- Gross Adjusted Income
- $79,664
- Gross Scheduled Income
- $80,469
- Total Monthly Income
- $6,706
- Insurance Expenses
- $1,591
- Water/Sewer/Garbage Expenses
- $6,251
- Gross Rent Multiplier
- 16.2
- Total Expenses
- $21,532
- Cap Rate
- 4.47
- Vacancy Rate
- 1
- Total Number of Units
- 3
- Unit Name
- 318
- Potential Terms
- Cash, Conventional, Owner Will Carry
- Year Built
- 1962
- Roof
- Flat
- Other Expenses
- 4379
- Energy Source
- Electric
- School District
- Edmonds
- Total Monthly Income
- $6,706
- Gross Scheduled Income
- $80,469
- Vacancy Rate
- 1
- Gross Adjusted Income
- $79,664
- Tax Year
- 2025
- Insurance Expense
- $1,591
- W/S/G Expenses
- $6,251
- Total Expenses
- $21,532
- Net Operating Income
- $58,132
- Gross Rent Multiplier
- 16.2
- Cap Rate
- 4.47
Based on information submitted to the MLS GRID as of . 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 noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.