1116 1120 5th Ave S, Edmonds, WA 98020

$7,295,000
25,700
SqFt

Listing courtesy of Paragon Real Estate Advisors.

List Price
$7,295,000
Status
ACTIVE
MLS#
1408555
Days on Market
14
Style
56 - 10+ Units
Finished SqFt
25,700
Lot Size (sq ft)
35,719

Property Description

24-unit apartment community located in the highly sought-after and walkable downtown Edmonds Bowl neighborhood. 2 large buildings on a single lot the property has had many upgrades in the last three years to position it well for this great location. Mostly large two-bedroom units with washers and dryers as well as storage lockers. Significant upside potential in rents and ample on-site parking.

Additional Information

List Date
2019-02-05 00:00:00
Community
Edmonds Bowl
Property Type
MULT
Units
24
Stories
3
Potential Terms
Cash Out
Year Built
1977
Total Parking
46
Uncovered Parking
46
View
Sound, Territorial
Exterior
Brick, Cement/Concrete
Roof
Flat
School District
Edmonds
Total Monthly Income
$40,555
Gross Scheduled Income
$486,660
Vacancy Rate
3
Gross Adjusted Income
$472,060
Annual Taxes
$53,630
Tax Year
2018
Insurance Expense
$7,604
W/S/G Expenses
$28,000
Total Expenses
$157,837
Net Operating Income
$314,223
Gross Rent Multiplier
15
Cap Rate
4

Room Dimensions

Unit 1 Beds
2
Unit 1 Baths
1.00
Unit 1 Size
950
Unit 1 Rent
$1,600
Unit 2 Beds
2
Unit 2 Baths
1.00
Unit 2 Size
950
Unit 2 Rent
$1,600
Unit 3 Beds
2
Unit 3 Baths
1.00
Unit 3 Size
950
Unit 3 Rent
$1,600
Unit 4 Beds
2
Unit 4 Baths
1.00
Unit 4 Size
950
Unit 4 Rent
$1,600
Unit 5 Beds
2
Unit 5 Baths
1.00
Unit 5 Size
950
Unit 5 Rent
$1,400
Unit 6 Beds
2
Unit 6 Baths
1.00
Unit 6 Size
950
Unit 6 Rent
$1,600
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