1050 5th Avenue S, Edmonds, WA 98026
- $6,000,000
- 20,053
- SqFt
Listing courtesy of Paragon Real Estate Advisors. Selling Office: Pacific Crest.
- Sold Price
- $6,000,000
- List Price
- $6,450,000
- Status
- SOLD
- MLS#
- 2422979
- Closing Date
- Oct 24, 2025
- Days on Market
- 41
- Style
- 56 - 10+ Units
- Finished SqFt
- 20,053
- Area Total SqFt
- 20053
- Annual Tax Ammount
- 47550
- Lot Size (sq ft)
- 27,007
- Sewer
- Sewer Connected
Property Description
Norge Apartments is an impressive apartment community with phenomenal curb appeal and has been maintained with great care by the same family ownership since it was built. The building sits on an expansive and gently sloping 27,007 SqFt lot with attractive mature landscaping and ample parking. The units are large, with the 1 bedroom – 1bath units averaging 816 SqFt and the 2 bedroom – 2 bath units averaging 1,135 SqFt. Most of the units feature an additional bonus room/office that offers great value for residents. There is a non-permitted studio unit on the lower level that was added by the owners as an owner/manager unit.
Additional Information
- List Date
- 2025-09-13 00:00:00
- Community
- Edmonds
- Net Operating Income
- $229,269
- Gross Adjusted Income
- $404,200
- Gross Scheduled Income
- $414,564
- Total Monthly Income
- $34,547
- Insurance Expenses
- $17,827
- Water/Sewer/Garbage Expenses
- $33,839
- Gross Rent Multiplier
- 15.6
- Total Expenses
- $174,931
- Cap Rate
- 3.6
- Vacancy Rate
- 2
- Total Number of Units
- 21
- Unit Name
- 1050
- Potential Terms
- Cash Out, Conventional, Owner Financing
- Year Built
- 1978
- Roof
- Composition
- Other Expenses
- 75715
- Energy Source
- Electric
- School District
- Edmonds
- Total Monthly Income
- $34,547
- Gross Scheduled Income
- $414,564
- Vacancy Rate
- 2
- Gross Adjusted Income
- $404,200
- Tax Year
- 2025
- Insurance Expense
- $17,827
- W/S/G Expenses
- $33,839
- Total Expenses
- $174,931
- Net Operating Income
- $229,269
- Gross Rent Multiplier
- 15.6
- Cap Rate
- 3.6
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.