533 4th Ave S 6 Unit Apartment Building $1,850,000 ($308,333/Unit) 2.74% Cap Rate Edmonds, WA 98020

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.