2421 98th Avenue Ct E Edgewood, WA $ 2,500,000
2421 98th Avenue Ct E
$ 2,500,000
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2421 98th Avenue Ct E

Edgewood, WA, 98371
$ 2,500,000
Baths0.0 Sq 6,447

Monthly Estimate*

$ 15,393

Listed by Windermere RE South Sound, Inc
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Studio

Multi-Family Home for sale in Edgewood, WA

for $2,500,000. This 6,447 square foot home was built in 1973 on a lot size of 5.

Rare multi-family and development opportunity in sought-after Edgewood. This fully renovated 5-plex has been extensively upgraded with new electrical and plumbing throughout, offering a turnkey investment with strong rental appeal and reduced future maintenance. The offering includes an additional parcel (#0420094003) totaling approximately 23,522 square feet, presenting significant potential for future development, additional units, or expansion (buyer to verify). Whether you're looking to hold for steady cash flow or unlock the site's full potential, this property offers a unique combination of current income and long-term development upside. Ideally located near key commuter routes, shopping, and employment centers, this is a strategic acquisition for investors seeking both stability and growth.

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Multi-Family Active

Price

$ 2,500,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 14,369

Style

5-9 Units

Lot Size

5

Year Built

1973

Town/City

Edgewood

County/Region

Pierce

MLS | Web ID

2503890

Features
General
Living Area 0
Sewer Sewer Connected
Heating Forced Air
Cooling None
Possession Closing
Roof Flat
HOA Fee 0
Garage Spaces 8
Year Built 1973
View Territorial
Property Subtype Multi Family
Tax Year 2025
County Pierce
Net Operating Income 135817
Insurance Expense 4473
New Construction N
Property Type Residential Income
HOA N
Subdivision Name Edgewood
Possible Use Multi-Family Residential
Special Listing Conditions None
Status Active
Directions GPS Friendly the additional parcel is located behind the neighboring property. Please be aware when you access.
High School Buyer To Verify
City Edgewood
Senior Community Y/N N
High School District Puyallup
Zoning Description Multi-Family Residential
Number Of Units Total 5
MLS Area 71 - Milton
Lot Size Units Square Feet
Lot Size Square Feet 217800
Carport Spaces 0
Carport Y/N N
Listing Terms Cash Conventional
Elementary School Buyer To Verify
Tax Annual Amount 14369.87
Electric Expense 0
Fuel Expense 0
Middle/Junior High School Buyer To Verify
Property Condition Updated/Remodeled
Public Remarks Rare multi-family and development opportunity in sought-after Edgewood. This fully renovated 5-plex has been extensively upgraded with new electrical and plumbing throughout offering a turnkey invest
Leasable Area 6447
Structure Type Multi Family
Building Area Units Square Feet
Standard Status Active
Water Company City of Milton
Units Below Grade false
Units In Building Total 5
Water Sewer Garbage 6140.13
Property Style 55 - 5-9 Units
Cap Rate 5.4
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Exterior
Exterior Amenities Wood
Parking Features RV Parking
Lot Features Dead End Street Paved
Water Source Public
Total Parking 5
Foundation Details Poured Concrete
Building Area Total 6447
Lot Dimensions 164x1264x161x1265
Lot Size Acres 5
Waterfront Y/N N
Covered Spaces 0
Irrigation Water Rights Y/N N
Site Features Cable TV Deck Gas Available Patio RV Parking
Parking Uncovered Total 5
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Interior
Flooring Vinyl Plank Carpet
Total Fireplaces 0
Total Stories 3
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Power Production Type Natural Gas
Baths Three Quarter Upper 0
Bedrooms Upper 0
Baths Half Upper 0
Baths Full Upper 0
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Internal Only
OriginalMLSID NWM2503890
Street Number 1 2421
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* Excluded Features
List By
Terri Reade

Listing Agent

Windermere Re South Sound, Inc

Broker

Affordability Calculator

$16,590
Per Month
93%
7%
0%
Monthly Principal & Interest
$15,393
Monthly Property Taxes
$1,197
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
3100633 Elementary School
3100499 Middle School
Buyer To Verify High School High School
Pricing History
DatePricePrice ChangeDescription
4/9/2026$2,500,000 Listed Price

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2421 98th Avenue Ct E, Edgewood, WA, 98371 is a Multi-Family Home for sale at $2,500,000 with 6,447 sqft and a lot size of 5. 2421 98th Avenue Ct E is a studio with 0.0 baths and was built in 1973. The property's zip code is 98371 which is in Edgewood, WA