Listing provided courtesy of Paragon Real Estate AdvisorsNWMLSas Distributed by MLSGrid- MLS# NWM2521636MLS Provider

324 3rd Avenue SEdmonds, WA 98020

Multi-Family · 7 Beds · 3,750 Sq. ft. | 0.20 Acres
$1,500,000 Active

324 3rd Avenue S Overview

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Edmonds Bowl 5 Unit, offered for the first time in over 45 years and Ideally situated in the heart of Downtown Edmonds, just blocks from Main Street and the waterfront. Sellers are open to Seller Financing terms from qualified buyers. Please reach out for terms. Upper-level units offer attractive water, mountain, and territorial views, enhancing overall tenant appeal. The building showcases a classic mid-century design centered around a private courtyard, creating a unique and inviting living environment. Residents benefit from a common laundry and storage area, while ample off-street parking is provided via five surface stalls and a spacious two-car garage. This asset presents a compelling value-add opportunity with clear pathways to increasing rental income through interior upgrades and operational improvements. With its irreplaceable location, strong in-place fundamentals, and multiple avenues for value creation, this offering is well-suited for investors seeking a stable, well-located asset with significant long-term growth potential.

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324 3rd Avenue S Facts & Features

  • Type Multi-Family
  • Sq. ft. 3,750
  • Price/Sq.ft. $400
  • Lot 0.20 Acres

Details

General

Association/HOA

  • Association Fee: $0.00

School Information

  • School District: Edmonds

Income/Expenses

  • Other Expense: 4199
  • Electric Expense: 0
  • Fuel Expense: 0
  • Gross Scheduled Income: 94065
  • Insurance Expense: 4529
  • Net Operating Income: 61006
  • Total Expenses: 28356
  • Total Monthly Income: 7839
  • Water/Sewer/Garbage: 8185

Building Information

  • New Construction: No
  • Year Built: 1959

Location/Region

  • Country: US
  • County Or Parish: Snohomish
  • MLS Area Major: 730 - Southwest Snohomish
  • Subdivision Name: Edmonds Bowl

Community/Development

  • Amenities: Coin Op Laundry

Tax Information

  • Tax Annual Amount: $11,443.00
  • Tax Year: 2025

General Information

  • Listing Terms: Cash
  • Parcel Number: 00530400000700
  • Possible Use: Multi-Family
  • Property Sub Type: Multi Family
  • Property Type: Residential Income
  • Senior Community: No
  • Special Listing Conditions: None

Interior

Parking Information

  • Garage Spaces: 2

Beds/Baths

  • Bedrooms Upper: 0

Building Interior

  • Building Area Total: 3750
  • Building Area Units: Square Feet
  • Calculated Square Footage: 3750
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0

General Information

  • Cooling: No
  • Fireplace: No
  • Fireplaces Total: 0
  • Flooring: Laminate, Vinyl, Carpet
  • Foundation Details: Poured Concrete
  • Heating: Yes
  • Leasable Area: 3750
  • Living Area: 0
  • Main Level Bathrooms: 0
  • Power Production Type: Electric
  • Stories Total: 2

Exterior

Parking Information

  • Open Parking: No
  • Parking Total: 7
  • Parking Uncovered Total: 5

Lot Information

  • Irrigation Water Rights: No
  • Lot Size Acres: 0.2
  • Lot Size Square Feet: 8712
  • Lot Size Units: Square Feet
  • Elevation Units: Feet

Waterfront/View

  • View: No
  • Waterfront: No

Building Exterior/Construction

  • Roof: Composition
  • Structure Type: Multi Family

General Information

  • Carport Spaces: 0
  • Carport: No
  • Covered Spaces: 2
  • Exterior Features: Brick, Wood, Wood Products
  • Number Of Units Total: 5
  • Sewer: Sewer Connected

Unit Information

Unit 5 Details

  • Actual Rent: 1100
  • Beds Total: 2
  • Baths Total: 1

Unit 2 Details

  • Actual Rent: 1300
  • Beds Total: 1
  • Baths Total: 1

Unit 1 Details

  • Actual Rent: 1595
  • Beds Total: 1
  • Baths Total: 1

Unit 4 Details

  • Actual Rent: 1650
  • Beds Total: 1
  • Baths Total: 1

Unit 3 Details

  • Actual Rent: 1800
  • Beds Total: 2
  • Baths Total: 1

324 3rd Avenue S Neighborhood

Community

98020 (Edmonds) Demographics

49
Median Age
3,108
Population Density (per sq. mile)
67%
College Educated
$95,682
Estimated Median Income
6,403
Estimated Total Home Owners
2,187
Estimated Total Renters
75% / 25%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

324 3rd Avenue S Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

324 3rd Avenue S Market Data

Based on the last 30 days in this zip code

$1,794,919
Average List Price
$711
Average Price per Square Foot
33
Properties Sold
47
Average Days on Market
86
Properties for Sale
Calculations provided by Reliance Network

324 3rd Avenue S History

Date Event Value Agent
5/12/2026Source: NWMLS Added to Database
May 12, 2026