533 4th Avenue S Unit #1-6, Edmonds, WA 98020
- $1,450,000
- 4,302
- SqFt
Listing Broker: Kidder Mathews; Dan Swanson; ; Selling Office: Whisper Real Estate.
- Sold Price
- $1,450,000
- List Price
- $1,850,000
- Status
- SOLD
- MLS#
- 2504100
- Closing Date
- May 18, 2026
- Days on Market
- 25
- Style
- 55 - 5-9 Units
- Finished SqFt
- 4,302
- Area Total SqFt
- 4302
- Annual Tax Ammount
- 10668
- Lot Size (sq ft)
- 7,405
- Sewer
- Sewer Connected
Property Description
Located in the heart of the Edmonds Bowl neighborhood, this apartment community offers investors a rare opportunity to acquire a well-positioned asset just blocks from Downtown Edmonds and the Puget Sound. The property’s walkable location provides tenants with convenient access to restaurants, shops, waterfront parks, and transit. Originally built in 1960, the property features classic mid-century design centered around a charming courtyard setting. Its durable brick veneer exterior, complemented by a new roof, recently painted cedar siding, and updated dual-pane windows, provides both curb appeal and low-maintenance ownership. All 6 units have updated electrical panels. The property is comprised of 6 units, including four 1-bed and two 2-bed homes. Top-floor units enjoy sweeping views of Downtown Edmonds and the Puget Sound. Residents benefit from 6 off-street parking spaces, on-site storage, and a shared laundry facility. Two units received recent remodels including in-unit laundry, and three units have dishwashers, refinished oak floors, quartz counters, and updates to kitchens and baths. This asset presents the likely opportunity for significant upside, simply by increasing rents to market levels and implementing a utility bill-back system. With its premier location, strong fundamentals, and clear path to upside, this property represents an exceptional opportunity for investors seeking both stability and growth in one of Snohomish County’s most desirable rental markets.
Additional Information
- List Date
- 2026-04-23 00:00:00
- Community
- Edmonds Bowl
- Net Operating Income
- $50,722
- Gross Adjusted Income
- $97,478
- Gross Scheduled Income
- $101,540
- Total Monthly Income
- $8,462
- Insurance Expenses
- $5,500
- Water/Sewer/Garbage Expenses
- $8,861
- Gross Rent Multiplier
- 18.2
- Total Expenses
- $46,757
- Cap Rate
- 2.7
- Vacancy Rate
- 4
- Total Number of Units
- 6
- Unit Name
- 533
- Potential Terms
- Cash, Conventional
- Year Built
- 1960
- View
- City, Partial, Sound
- Roof
- Flat
- Other Expenses
- 21728
- Energy Source
- Electric
- School District
- Edmonds
- Elementary School
- Sherwood ElemSw
- Middle School
- College Pl Mid
- High School
- Edmonds Woodway High
- Total Monthly Income
- $8,462
- Gross Scheduled Income
- $101,540
- Vacancy Rate
- 4
- Gross Adjusted Income
- $97,478
- Tax Year
- 2026
- Insurance Expense
- $5,500
- W/S/G Expenses
- $8,861
- Total Expenses
- $46,757
- Net Operating Income
- $50,722
- Gross Rent Multiplier
- 18.2
- Cap Rate
- 2.7
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.