324 3rd Ave S

Edmonds, WA 98020

$1,500,000
Price
7
Beds
5
Baths
3,750 Sq. Ft.
$400 / Sq. Ft.
3,750
Sq. Ft.
$400
per Sq. Ft.
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Listing provided courtesy of Paragon Real Estate Advisors
Source: Northwest MLS

Description

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....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.
  1. Listed by Ryan Iles • Paragon Real Estate Advisors
    P: (206)-623-8880 ryan@paragonrea.com
  2. Listed by Will Douglas • Paragon Real Estate Advisors
    P: (206)-623-8880 Will@ParagonREA.com

Property Details for 324 3rd Avenue South

Community Name
Edmonds Bowl
School District
Edmonds
Number of Assigned Spaces
7
Total Covered Parking
2
Entry Date
05-12-2026
Energy Source
Electric
Sewer
Sewer Connected
LISTING UPDATED: 05/12/2026 12:03 PM

Property Details for 324 3rd Avenue South

StatusActive
MLS #2521636
Days on Market25
Cumulative Days on Market25
Taxes$11,443 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income
Year Built1959
Lot Size0.20 AC / 8,712 SF
CountySnohomish County
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Location

Listing Courtesy of Paragon Real Estate Advisors
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Building Information for 324 3rd Avenue South

Stories2Residences5Year Built1959Building Size-Lot Size0.20 AC / 8,712 SF

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$8,428 per month

30 year fixed, 6.36% Interest

Principal and Interest

$7,475

Property Taxes

$954

HOA Dues

$0

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Property Information for 324 3rd Avenue South

Summary
Location and General Information
  • Style: 55 - 5-9 Units
  • Area: 730 - Southwest Snohomish
  • Directions: From I5 N take exit 177 for WA 104 W - Merge onto WA 104 W - Keep right to continue on Edmonds Way. Right on Edmonds Way. Right on Pine St. Left on 3rd Ave S. Property is on the left.
  • Leased Items: None
  • Property Sub Type: MULT
  • View: No
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2025
Parking
  • Garage Spaces: 2.0
  • Number of Carport Spaces: 0.0
  • Carport: No
  • Open Parking: No
Interior and Exterior Features
Bathroom Information
  • Full Baths Upper: 0
  • Three Quarter Baths Upper: 0
  • Half Baths Upper: 0
  • Main Level Bathrooms: 0
Bedroom Information
  • Bedrooms Upper: 0
Interior Features
  • Fireplaces Total: 0
  • Floor Covering: Laminate, Vinyl, Carpet
  • Amenities: Coin Op Laundry
  • Cooling: No
  • Cooling: None
  • Fireplace: No
  • Heating: Yes
  • Heating: Baseboard
Exterior Features
  • Exterior: Brick, Wood, Wood Products
  • Roof: Composition
Property
Utilities
  • Water/Sewer/Garbage: 8185
  • Power Production Type: Electric
Property and Assessments
  • New Construction YN: No
  • Zoning Jurisdiction: City
  • Foundation: Poured Concrete
  • Zoning Remarks: Multi-Family
  • First Right Of Refusal: false
  • Possible Use: Multi-Family
  • MLS Square Footage Source: Public Records
  • Preliminary Title Ordered: Yes
  • Senior Community: No
  • Special Listing Conditions: None
  • Photos Count: 17
Lot Information
  • Lot Size Source: Public Records
  • Parcel Number Free Text: 00530400000700
  • Calculated Square Footage: 3750
  • Structure Type: Multi Family
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 3750.0
  • Building Area Units: Square Feet
  • Property Type: Residential Income
  • Elevation Units: Feet
  • Irrigation Water Rights: No
Multi Family
Building Details
  • Total Uncovered Parking: 5
  • Number of Stories in Building: 2
  • Vacancy Rate: 5
  • Number Of Units Total: 5
  • Units Below Grade: false
  • Units In Building Total: 5
Financing / Income and Expenses
  • Electric Expense: $0
  • Total Expenses: 28356
  • Gross Adjusted Income: 89362
  • Gross Rent Multiplier: 15.9
  • Gross Scheduled Income: $94,065
  • Insurance Expense: $4,529
  • Net Operating Income: $61,006
  • Other Expenses: $4,199
  • Total Monthly Income: 7839
  • Fuel Expense: $0
Unit 1
  • Name Unit 1: 1
  • Washer/Dryer Unit 1: false
  • Range/Oven Unit 1: true
  • Refrigerator Unit 1: true
  • Dishwasher Unit 1: true
  • Square Feet Unit 1: 650
  • Rent Unit 1: $1,595.00
  • Bedrooms Unit 1: 1
  • Fireplaces Unit 1: 0
  • Bathrooms Unit 1: 1
Unit 2
  • Name Unit 2: 2
  • Washer/Dryer Unit 2: false
  • Range/Oven Unit 2: true
  • Refrigerator Unit 2: true
  • Dishwasher Unit 2: true
  • Square Feet Unit 2: 650
  • Rent Unit 2: $1,300.00
  • Bedrooms Unit 2: 1
  • Fireplaces Unit 2: 0
  • Bathrooms Unit 2: 1
Unit 3
  • Name Unit 3: 3
  • Washer/Dryer Unit 3: false
  • Range/Oven Unit 3: true
  • Refrigerator Unit 3: true
  • Dishwasher Unit 3: true
  • Square Feet Unit 3: 850
  • Rent Unit 3: $1,800.00
  • Bedrooms Unit 3: 2
  • Fireplaces Unit 3: 0
  • Bathrooms Unit 3: 1
Unit 4
  • Name Unit 4: 4
  • Washer/Dryer Unit 4: false
  • Range/Oven Unit 4: true
  • Refrigerator Unit 4: true
  • Dishwasher Unit 4: true
  • Square Feet Unit 4: 750
  • Rent Unit 4: $1,650.00
  • Bedrooms Unit 4: 1
  • Fireplaces Unit 4: 0
  • Bathrooms Unit 4: 1
Unit 5
  • Name Unit 5: 5
  • Washer/Dryer Unit 5: false
  • Range/Oven Unit 5: true
  • Refrigerator Unit 5: true
  • Dishwasher Unit 5: true
  • Square Feet Unit 5: 850
  • Rent Unit 5: $1,100.00
  • Bedrooms Unit 5: 2
  • Fireplaces Unit 5: 0
  • Bathrooms Unit 5: 1
Rental
Rent Information
  • Occupant Type: Tenant
  • Leasable Area: 3750.0

Property History for 324 3rd Avenue South

DateEvent & SourcePriceAppreciation
May 12, 2026

Listed (Active)

NWMLS #2521636

$1,500,000—
Jul 19, 2007

Sold (Public Record)

Public Record #223192248

$650,000—
DateEvent & SourcePrice
05/12/2026

Listed (Active)

NWMLS #2521636

$1,500,000
07/19/2007

Sold (Public Record)

Public Record #223192248

$650,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 324 3rd Avenue South

Taxable ValueLand$803,500Additions$725,300Total$1,528,800
Tax Record2025$11,396 ($950 / month)
Home Facts
Total Finished SqFt4,296 SqFtAbove Ground SqFt4,296 SqFtStories2Lot Size8,712 SqFtStyleMulti-Family Dwelling (2-4)Year Built1959ZoningE7CountySNOHOMISHAPN00530400000700Fireplace TypeHas Fireplace

Schools near 324 3rd Avenue South

This home is within Edmonds School District.
Rating
School
Type
Grades
Distance
Sherwood Elementary School
Public - K to 6
College Place Middle School
Public - 7 to 8
Edmonds Woodway High School
Public - 9 to 12
Edmonds Home Resource Center
Public - K to 12
Rating
School
Distance
Sherwood Elementary School
PublicK to 6

College Place Middle School
Public7 to 8

Edmonds Woodway High School
Public9 to 12

Edmonds Home Resource Center
PublicK to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Edmonds
Edmonds
Get to know the unique charms of the community surrounding this home. North of Seattle lies the scenic city of Edmonds, Washington. This picturesque beach town is comprised of two parts: the Edmonds “Bowl” area (which includes the downtown hub, the business district, and the Ferry Terminal) and the...
Edmonds Guide

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More information about 324 3rd Avenue South, Edmonds, WA 98020

324 3rd Avenue South is a multi-family home for sale in Edmonds, WA 98020. This property was listed for sale on May 12, 2026 by Paragon Real Estate Advisors, it's currently listed at $1,500,000. It has been on the market for a total of 25 days and was last sold on July 19, 2007. This listing's school district is Edmonds School District. Nearby schools include Sherwood Elementary School, College Place Middle School and Edmonds Woodway High School. 324 3rd Avenue South is a 7-bed, 5-bath, 3,750 sqft multi-family home built in 1959.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Paragon Real Estate Advisors

Based on information submitted to the MLS GRID as of 05/12/2026 12:03 PM. 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. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.