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    1050 5Th Ave S Edmonds, WA 98020

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    For Sale
    $6,450,000

    21-unit apartment community in Edmonds Bowl neighborhood.

    Property size:
    20,053 SF

    Property Features for 1050 5Th Ave S

    General Information

    Size
    20,053 SF

    Building Details

    Year built
    1978

    Source: PARAGON REAL ESTATE ADVISORS Agent RYAN ILES

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Edmonds Multifamily Investment Opportunity

    The Norge Apartments, available for sale for the first time since their construction in 1978, present a multifamily investment opportunity. This 21-unit apartment community is located in the Edmonds Bowl neighborhood. Situated on a 27,007 SqFt lot, the property features mature landscaping and ample parking. The apartment building contains 20,053 SqFt of space. The units are large, with 1 bedroom – 1 bath units averaging 816 SqFt and the 2 bedroom – 2 bath units.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Norge Apartments Apartment Building

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Edmonds
    County
    Snohomish
    State
    Washington
    Longitude
    -122.378228
    Latitude
    47.801958

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    FAQs

    What type of property is this?
    Apartment building - 21-unit apartment community in Edmonds Bowl neighborhood.
    Where is this apartment building located?
    The property is located at 1050 5Th Ave S Edmonds, WA.
    What is the asking price?
    The asking price for this property is $6,450,000.
    What are key features of this property?
    This property features: - 21-unit apartment community in the coveted Edmonds Bowl neighborhood.; - Tremendous upside and value-add opportunity.; - Seller financing available for qualified buyers.
    Request Owner's contact information
    1050 5Th Ave S Edmonds, WA 98020
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1050 5Th Ave S Edmonds, WA 98020
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