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(206) 595-7188
Real Estate Company
300 Edmonds Street, Edmonds, WA 98020
- $1,525,000
- 3,138
- SqFt
Listing Broker: Paragon Real Estate Advisors; Will Douglas; 206-812-9108; Will@ParagonREA.com
- List Price
- $1,525,000
- Status
- ACTIVE
- MLS#
- 2596969
- Style
- 54 - 4-Plex
- Finished SqFt
- 3,138
- Area Total SqFt
- 3138
- Annual Tax Ammount
- 9558
- Lot Size (sq ft)
- 7,405
- Sewer
- Available
Property Description
Tartan Apartments is a well-located four-unit apartment opportunity in the heart of the highly desirable Edmonds Bowl. Situated on a prominent corner lot at Edmonds St and 3rd Ave N, just two blocks from Main Street, the property sits in one of the tightest and most sought-after submarkets in the region, where inventory remains extremely limited and small multifamily assets rarely trade. With a Walk Score of 84, residents enjoy exceptional walkability to Downtown Edmonds' shops, restaurants, and waterfront. Built in 1965, the single-story wood frame and brick building features an attractive unit mix consisting of 2 - two-bedroom, one-bathroom units (approximately 870 SF) and 2 - one-bedroom, one-bathroom units (approximately 700 SF). Every unit includes an in-unit washer and dryer, a full kitchen appliance package, and dual-pane vinyl windows, while the single-level layout gives each resident ground-level access, a rare and highly marketable feature in the downtown core. The building is plumbed with copper, topped with a pitched composition shingle roof, and offers five off-street parking stalls, more than one per unit. This asset presents a compelling value-add opportunity, with in-place rents trailing market and a clear path to increasing income through unit turnover and light interior updates.
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Additional Information
- Community
- Edmonds Bowl
- Net Operating Income
- $63,450
- Gross Adjusted Income
- $88,697
- Gross Scheduled Income
- $91,440
- Total Monthly Income
- $7,620
- Insurance Expenses
- $3,376
- Water/Sewer/Garbage Expenses
- $7,713
- Gross Rent Multiplier
- 16.68
- Total Expenses
- $25,247
- Cap Rate
- 4.16
- Vacancy Rate
- 3
- Total Number of Units
- 4
- Unit Name
- 300
- Potential Terms
- Cash, Conventional
- Year Built
- 1965
- Roof
- Composition
- Other Expenses
- 4600
- Energy Source
- Electric
- School District
- Edmonds
- Total Monthly Income
- $7,620
- Gross Scheduled Income
- $91,440
- Vacancy Rate
- 3
- Gross Adjusted Income
- $88,697
- Tax Year
- 2026
- Insurance Expense
- $3,376
- W/S/G Expenses
- $7,713
- Total Expenses
- $25,247
- Net Operating Income
- $63,450
- Gross Rent Multiplier
- 16.68
- Cap Rate
- 4.16
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.