525 5th Avenue S, Edmonds, WA 98020

$1,495,000

Listing courtesy of Champions Real Estate Services.

List Price
$1,495,000
Status
ACTIVE
MLS#
1950291
Days on Market
238

Property Description

Modern mixed-use commercial condo sector on street with main level for sale. Entire building with $1M exterior renovations. New (2019): Hardy plank siding, exterior paint, roof, gutter system and windows. Building in very good condition with high end condos above. In Edmonds' Bowl main arterial across from Ace Hardware Shopping Center/Bus stop. Easy street access with good street parking and parking lot. View of creek with 3 sides with (N, S & W) windows! Abundance of large display windows/doors, recessed lighting, tile lobby double door entry, granite reception counter, natural light, built in workspaces, large conference room, offices, bathrooms, elevator to rear parking lot. Seller financing possible with large down payment/credentials.

Additional Information

Community
Edmonds Bowl
Building Condition
Very Good
Style
73 - Office
Year Built
1995
# of Assigned Spaces
6
Roof
See Remarks, Torch Down
Tax Year
2021
HOA Dues
$1,125
Potential Terms
Cash Out, Conventional, Owner Financing
Interior Features
Forced Air, Ceramic Tile, Wall to Wall Carpet
Flooring
Ceramic Tile, Vinyl, Carpet
Driving Directions
From I-5 at Exit 177 or Hwy 99, take SR 104 West (244th SW/Edmonds Way) to downtown Edmonds. Stay in left lane which turns into 5th Ave S. On right side of street across from Ace Hardware.
Heating/Cooling Type
Forced Air
Electric Expenses
3600
Other Expenses
13500
Energy Source
Electric, Natural Gas
Net Operating Income
$74,983
Gross Adjusted Income
$98,288
Gross Scheduled Income
$98,952
Cap Rate
5
Total Expenses
$24,046
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