Quadplex with Oversized
14025 61ST Edmonds, WA 98026
For Sale
$1,540,000
Four larger-than-standard units with oversized patios and sound-reducing concrete subfloors, plus coin-op laundry and multiple storage options.
Property Size4,220 SF
Lot Size0.29 Acres
Price / SF$364.93
Days on Market120
Property Features for 14025 61ST
General Information
Standard status
Active
Size
4,220 SF
Lot size
0.29 Acres
Property subtype
Multi-family
Building Details
Year Built
1978
Listing Agency:
List4FlatFee.com,LLC
Listed By:
Stacie Whitfield
(425) 742-1515
Source:
Century21northhomes
Added: Mar 31
Changed: Jul 10
Last Checked: Jul 27 at 12:40AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of List4FlatFee.com,LLC
Investment Insights
Based on property information with market context.
A quality-built 4-plex on a 12,633 sq. ft. lot with a greenbelt setting. Units feature oversized patios and balconies, hardwood floors, granite countertops, and new double-thick glass windows. Interior updates include new doors and millwork, new tubs and faucets, and sound-reducing “bubble concrete” sub floors. Exterior improvements include new gutters and downspouts, along with a new Aqua-Pex water line. The property also offers a huge backyard, two coin-op laundries, four storages, and 8+ personal parking spaces.
The building is situated on a greenbelt with ocean view across the street. The beach is about 1 mile away, and the property is walkable to school. It is approximately 5 miles to Alderwood Mall and within the broader access area of I-5 and 405.
This quadplex is well suited for buyers seeking a small multifamily property with four distinct residential units, practical on-site amenities, and recent fixture and building-component improvements. Current occupancy is described as 6 tenants with no pets, and the remarks note that proof of funds is required for showings. The units are stated to be bigger than newly built 3-bedroom homes, supporting tenants who need extra living space within a single building setting.
The building is situated on a greenbelt with ocean view across the street. The beach is about 1 mile away, and the property is walkable to school. It is approximately 5 miles to Alderwood Mall and within the broader access area of I-5 and 405.
This quadplex is well suited for buyers seeking a small multifamily property with four distinct residential units, practical on-site amenities, and recent fixture and building-component improvements. Current occupancy is described as 6 tenants with no pets, and the remarks note that proof of funds is required for showings. The units are stated to be bigger than newly built 3-bedroom homes, supporting tenants who need extra living space within a single building setting.
Key Highlights
- 1978‑built 4‑plex on a 12,633 sq. ft. lot with greenbelt views and ocean views across the street
- All units feature oversized patios and balconies, plus sound‑reducing concrete sub floors
- Updates include new double thick glass windows, new doors and millwork, new gutters and downspouts, and a new Aqua‑Pex water line
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $106.3k | $25.20 |
| − Vacancy | −$5.8k | −$1.39 |
| EGI | $100.5k | $23.81 |
| − OpEx | −$30.1k | −$7.14 |
| NOI | $70.3k | $16.67 |
4,220 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.00M
$879.3K – $1.17M
NOI $70,347 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$901.7K
$789.0K – $1.05M
NOI $63,120 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,382 @ 7.0% cap · market cap 5.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Four larger-than-standard units with oversized patios and sound-reducing concrete subfloors, plus coin-op laundry and multiple storage options.
Where is this quadplex located?
The property is located at 14025 61ST Edmonds, WA.
What is the asking price?
The asking price for this property is $1,540,000.
What are key features of this property?
This property features: 1978‑built 4‑plex on a 12,633 sq. ft. lot with greenbelt views and ocean views across the street; All units feature oversized patios and balconies, plus sound‑reducing concrete sub floors; Updates include new double thick glass windows, new doors and millwork, new gutters and downspouts, and a new Aqua‑Pex water line
