4-Unit Apartment
New
For Sale
$1,525,000
300 Edmonds Street, Edmonds, WA 98020
Each residence offers ground-level entry, in-unit laundry, and a full kitchen appliance package.
Property Size3,138 SF
Price / SF$485.98
Days on Market6
Property Features for 300 Edmonds Street
General Information
Standard status
Active
Size
3,138 SF
Total Parking Spaces
5
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
4
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$9,558
Amenities
in-unit washer and dryer
Building Details
Building Size
3,138 SF
Year Built
1965
Buildings
1
Stories
1
Construction
wood frame and brick
Listing Agency:
Paragon Real Estate Advisors
Listed By:
Will Douglas
(206) 812-9108
Source:
Adamcobb
Added: Oct 22
Changed: Oct 26
Last Checked: Oct 25 at 2:32AM
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 Paragon Real Estate Advisors
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Investment Insights
Based on property information with market context.
Built in 1965, this single-story, wood-frame and brick apartment building contains four homes: two two-bedroom, one-bath units of approximately 870 SF each and two one-bedroom, one-bath units of approximately 700 SF each. All residences include a washer and dryer, a full kitchen appliance package, and dual-pane vinyl windows. Building features include copper plumbing and a pitched composition-shingle roof, with five off-street parking stalls.
The property occupies a corner at Edmonds Street and 3rd Avenue N, two blocks from Main Street. A Walk Score of 84 reflects pedestrian access to downtown shops, restaurants, and the waterfront.
The property occupies a corner at Edmonds Street and 3rd Avenue N, two blocks from Main Street. A Walk Score of 84 reflects pedestrian access to downtown shops, restaurants, and the waterfront.
Key Highlights
- Four apartments: two 2‑bedroom, 1‑bath units and two 1‑bedroom, 1‑bath units
- Two 2‑bedroom units are approximately 870 SF each; two 1‑bedroom units are approximately 700 SF each
- Five off‑street parking stalls
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,310
Cap Rate
3.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,046,200
$1.0M
Cap Rate 7%
$747,286
$747.3K
Cap Rate 9%
$581,222
$581.2K
Market Conditions
NOI Build-Up for 3,138 SF
Gross rent
$79.1K $25.20/SF
− Vacancy
−$4.3K −$1.39/SF
EGI
$74.7K $23.81/SF
− OpEx
−$22.4K −$7.14/SF
NOI
$52.3K $16.67/SF
Area
Snohomish County, WA
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,046,200
Cap Rate 7%
$747,286
Cap Rate 9%
$581,222
Alternative Uses
Best Use
Multifamily LT 5
$747.3K
$653.9K – $871.8K
NOI $52,310 @ 7.0% cap · market cap 3.43%
Second Best
Apartment 5plus
$670.5K
$586.7K – $782.3K
NOI $46,936 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$875.1K
$765.7K – $1.02M
NOI $61,259 @ 7.0% cap · market cap 4.02%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,875
Businesses Nearby
Explore this area
Business Placement
Demographics for 98020, WA
20,236
Population
9,379
Households
2.2
Avg Household Size
52
Median Age
60%
College-Educated
98%
High-School Grad
5.2 sq mi
ZIP Area
3,892
Density / Sq Mi
$122,243
Median Household Income
$73,725
Median Earnings
$1,894
Median Rent
$959,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Each residence offers ground-level entry, in-unit laundry, and a full kitchen appliance package.
Where is this quadplex located?
The property is located at 300 Edmonds Street Edmonds, WA.
What is the asking price?
The asking price for this property is $1,525,000.
What are key features of this property?
This property features: Four apartments: two 2‑bedroom, 1‑bath units and two 1‑bedroom, 1‑bath units; Two 2‑bedroom units are approximately 870 SF each; two 1‑bedroom units are approximately 700 SF each; Five off‑street parking stalls
