507 3rd Street, Sultan, WA 98294
- $899,000
- 3,874
- SqFt
Listing Broker: Lamb Real Estate; Kimberly Esquivel; 425-499-4950; kim@lambandcompany.com
- List Price
- $899,000
- Status
- ACTIVE
- MLS#
- 2587795
- Days on Market
- 0
- Style
- 53 - Tri-plex
- Finished SqFt
- 3,874
- Area Total SqFt
- 3874
- Annual Tax Ammount
- 5102.93
- Lot Size (sq ft)
- 12,632
- Sewer
- Sewer Connected
Property Description
OFFERING $25,000 SELLER CREDIT! Perfectly positioned in the heart of Sultan, this updated triplex presents a rare opportunity to invest with rental income already in place and potential to grow. With two units currently occupied, new exterior paint and partially updated roofing, this property offers a strong foundation for continued investment. There is even more potential with an unfinished fourth unit and the possibility to add a DADU, creating the opportunity for additional income-producing units. The lower-level unit has been thoughtfully refreshed with a wide-open floor plan, fresh paint, new flooring, and a bright kitchen featuring new cabinetry, countertops, appliances, and fixtures. Two comfortable bedrooms are accompanied by a refreshed full bathroom and laundry room with new tile and fixtures. The two occupied units have been fully remodeled inside, and each offers two bedrooms, one bathroom, and in-unit laundry. Outside, a shared backyard and ample parking add to the appeal, while Sultan favorites, local schools, and everyday amenities are all within easy walking distance.
Additional Information
- List Date
- 2026-09-30 18:40:25
- Community
- Sultan
- Total Monthly Income
- $5,823
- Insurance Expenses
- $4,829
- Water/Sewer/Garbage Expenses
- $6,590
- Gross Rent Multiplier
- 14.21
- Total Expenses
- $16,523
- Cap Rate
- 5.27
- Vacancy Rate
- 25
- Total Number of Units
- 4
- Unit Name
- 507
- Potential Terms
- Cash, Conventional, FHA, VA Loan
- Year Built
- 1952
- View
- Mountains, Territorial
- Roof
- Composition, Flat, See Remarks
- Site Features
- Deck, Fenced-Partially, Patio
- Energy Source
- Electric
- School District
- Sultan
- Elementary School
- Sultan Elem
- Middle School
- Sultan Mid
- High School
- Sultan Snr High
- Total Monthly Income
- $5,823
- Vacancy Rate
- 25
- Tax Year
- 2026
- Insurance Expense
- $4,829
- W/S/G Expenses
- $6,590
- Total Expenses
- $16,523
- Gross Rent Multiplier
- 14.21
- Cap Rate
- 5.27
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.