$1,225,000

6 Beds 4 Baths 3,584 SQFT 0.20 Acres
Type: Multi-Family

318 3rd Avenue S
Edmonds, WA 98026

MLS#: 2570382
Presented by: Paragon Real Estate Advisors; Will Douglas; 206-812-9108; Will@ParagonREA.com

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.


 

Interior Features

Bedrooms

Bedrooms Upper0

Bathrooms

Baths Full Upper0
Baths Half Upper0
Baths Three Quarter Upper0

Other Interior Features

Air Conditioning Y/NNo
Fireplace Y/NNo
FlooringLaminate, Vinyl, Carpet
Heating Y/NYes
Power Production TypeElectric
Total Fireplaces0
Total Stories2

General

AmenitiesCoin Op Laundry
Building Area Units0 sqft
Cap Rate4.75
Carport Spaces0
Carport Y/NNo
CityEdmonds
CoolingNone
CountySnohomish
DirectionsFrom I5 N take exit 177 for WA 104 W - Merge onto WA 104 W - Keep right to continue on Edmonds Way. Right on Edmonds Way. Right on Pine St. Left on 3rd Ave S. Property is on the left.
Electric Expense0
Fuel Expense0
Garage Spaces3
HOANo
HOA Fee$0
HeatingBaseboard
High School DistrictEdmonds
Insurance Expense1591
Leasable Area3,584 sqft
Listing TermsCash, Conventional, Owner Will Carry
Living Area0 sqft
Lot Size Square Feet8,712 sqft
Lot Size UnitsSquare Feet
MLS Area730 - Southwest Snohomish
NWM_ShowMapLinkY
Net Operating Income58132
New ConstructionNo
Number Of Units Total3
PossessionClosing, Subject To Tenant Rights
Possible UseMulti-Family
Property Style53 - Tri-plex
Property SubtypeMulti Family
Property TypeResidential Income
Public RemarksEdmonds 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 financin
RoofFlat
Senior Community Y/NNo
SewerSewer Connected
Special Listing ConditionsNone
Standard StatusActive
StatusActive
Structure TypeTriplex
Subdivision NameEdmonds Bowl
Tax Annual Amount$9,311
Tax Year2025
Units Below Gradefalse
Units In Building Total3
Water Sewer Garbage6251
Year Built1962
Zoning DescriptionMulti-Family

Exterior

Building Area Total3,584 sqft
Covered Spaces3
Exterior AmenitiesWood, Wood Products
Foundation DetailsPoured Concrete
Irrigation Water Rights Y/NNo
Lot Size Acres0.2
Parking Uncovered Total4
Total Parking7
Waterfront Y/NNo

Additional Details

Price History

Schools 

High School N/A
Elementary School N/A
Middle School N/A

  

Similar Properties

$1,225,000

6 Beds 4 Baths 3,584 SQFT 0.20 Acres
Type: Multi-Family

318 3rd Avenue S
Edmonds, WA 98026

MLS#: 2570382