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Listing provided courtesy of Windermere Real Estate Co.NWMLSas Distributed by MLSGrid- MLS# NWM2539200MLS Provider

15328 40th Avenue WLynnwood, WA 98087

Multi-Family · 7 Beds · 3,248 Sq. ft. | 0.22 Acres
$969,000 Active

15328 40th Avenue W Overview

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New Price! Attractive 4-plex ideally located near Hwy 99, I-5, & 405. Enjoy a desirable unit mix of 3 - 2 bed, 1 bath units and 1 - 1 bed, 1 bath unit. Recent upgrades to units 2-4 include newer flooring, newer interior paint, and partial cabinet (newer in unit 4, refreshed in units 2 & 3 with newer paint and hardware), countertop, trim, & light fixture upgrades, as well as many updated appliances. Upper units have a small deck and the lower units are adjacent to a small yard. 8 parking spaces (2 per unit!). Common laundry provides additional income. A flexible asset with the ability to immediately owner-occupy, or use as a long-term hold with good cashflow + additional upside potential through operational improvements.

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15328 40th Avenue W Facts & Features

  • Type Multi-Family
  • Sq. ft. 3,248
  • Price/Sq.ft. $298
  • Lot 0.22 Acres

Details

General

Association/HOA

  • Association Fee: $0.00

School Information

  • School District: Edmonds

Income/Expenses

  • Other Expense: 9293
  • Electric Expense: 1283
  • Fuel Expense: 0
  • Gross Scheduled Income: 78444
  • Insurance Expense: 1527
  • Net Operating Income: 49524
  • Total Expenses: 24998
  • Total Monthly Income: 6537
  • Water/Sewer/Garbage: 5073

Building Information

  • New Construction: No
  • Year Built: 1966

Location/Region

  • Country: US
  • County Or Parish: Snohomish
  • MLS Area Major: 730 - Southwest Snohomish
  • Subdivision Name: Lynnwood

Tax Information

  • Tax Annual Amount: $7,822.00
  • Tax Year: 2025

General Information

  • Listing Terms: Cash, Conventional
  • Parcel Number: 00372901102104
  • Possible Use: Multi-Family
  • Property Sub Type: Multi Family
  • Property Type: Residential Income
  • Senior Community: No
  • Special Listing Conditions: None

Interior

Parking Information

  • Garage Spaces: 0

Beds/Baths

  • Bedrooms Upper: 0

Building Interior

  • Building Area Total: 3248
  • Building Area Units: Square Feet
  • Calculated Square Footage: 3248
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0

General Information

  • Cooling: No
  • Fireplace: No
  • Fireplaces Total: 0
  • Flooring: Vinyl, Vinyl Plank, Carpet
  • Foundation Details: Slab
  • Heating: Yes
  • Leasable Area: 3080
  • Living Area: 0
  • Main Level Bathrooms: 0
  • Power Production Type: Electric
  • Stories Total: 1

Exterior

Parking Information

  • Open Parking: No
  • Parking Total: 8
  • Parking Uncovered Total: 8

Lot Information

  • Irrigation Water Rights: No
  • Lot Features: Dead End Street, Paved
  • Lot Size Acres: 0.22
  • Lot Size Square Feet: 9583
  • Lot Size Units: Square Feet
  • Site Features: Cable TV, Deck
  • Elevation Units: Feet
  • Water Source: Public

Waterfront/View

  • Waterfront: No

Building Exterior/Construction

  • Roof: Flat, Torch Down
  • Structure Type: Quadruplex

General Information

  • Carport Spaces: 0
  • Carport: No
  • Covered Spaces: 0
  • Exterior Features: Metal/Vinyl
  • Number Of Units Total: 4
  • Sewer: Sewer Connected

Unit Information

Unit 4 Details

  • Actual Rent: 0
  • Beds Total: 2
  • Baths Total: 1

Unit 3 Details

  • Actual Rent: 1445
  • Beds Total: 1
  • Baths Total: 1

Unit 1 Details

  • Actual Rent: 1650
  • Beds Total: 2
  • Baths Total: 1

Unit 2 Details

  • Actual Rent: 1650
  • Beds Total: 2
  • Baths Total: 1

15328 40th Avenue W Neighborhood

Community

98087 (Lynnwood) Demographics

33
Median Age
7,227
Population Density (per sq. mile)
47%
College Educated
$87,320
Estimated Median Income
8,091
Estimated Total Home Owners
7,041
Estimated Total Renters
53% / 47%
Estimated Owner / Renter Divide
3
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

15328 40th Avenue W Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

15328 40th Avenue W Market Data

Based on the last 30 days in this zip code

$704,905
Average List Price
$386
Average Price per Square Foot
41
Properties Sold
56
Average Days on Market
179
Properties for Sale
Calculations provided by Reliance Network

15328 40th Avenue W History

Date Event Value Agent
6/15/2026Source: NWMLS Added to Database
June 15, 2026
6/20/2022Source: NWMLS Added to Database
June 01, 2021