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318 3rd Ave S
Edmonds, WA 98020
Edmonds Triplex · Multifamily Property For Sale · 3 Units

Investment Highlights

  • Excellent Edmonds Bowl location
  • Value add opportunity
  • Views from upper units
  • Seller Financing available
  • Future development potential
  • Adjacent 5 unit also for sale

Executive Summary

Edmonds Bowl Triplex is being offered for the first time in over 45 years, presenting a rare opportunity to acquire a well-located asset in one of Edmonds’ most desirable neighborhoods. Seller financing is available for qualified buyers with flexible terms—please reach out for details. Ideally positioned in the heart of Downtown Edmonds, just blocks from Main Street and the waterfront, this property offers exceptional walkability and long-term tenant appeal. Upper-level units feature attractive water, mountain, and territorial views, further enhancing desirability. The property showcases classic mid-century architecture centered around a private courtyard, creating a unique and inviting atmosphere for residents. Additional amenities include common laundry, storage, five off-street parking stalls, and a spacious two-car garage. This is a compelling value-add opportunity with clear upside through interior upgrades and operational improvements. With an irreplaceable location, strong existing fundamentals, and multiple paths to increased income, this offering is ideal for investors seeking stability, upside, and long-term appreciation.

Property Facts

Price Per Unit $602,450 CAD
Sale Type Investment
Cap Rate 4.47%
Gross Rent Multiplier 15.9
No. Units 3
Property Type Multifamily
Property Subtype
Apartment
  • Multifamily Apartments
Apartment Style Low-Rise
Building Class B
Lot Size 0.20 AC
Building Size 3,584 SF
No. Stories 2
Year Built 1962
Parking Ratio 1.67/1,000 SF
Zoning RM1.5 - Residential

Amenities

Site Amenities

  • Laundry Facilities

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1 2 $2,468 CAD 972 - 1,032
2+1.5 1 $3,198 CAD 1,580

Property Taxes

Property Taxes

Parcel Number
005304-000-006-00
Land Assessment
$1,177,346 CAD
Improvements Assessment
$630,012 CAD
Total Assessment
$1,807,359 CAD
  • Listing ID: 40498434

  • Date on Market: 2026-05-12

  • Last Updated:

  • Address: 318 3rd Ave S, Edmonds, WA 98020

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