Martha Lake Giant Duplex on an over 15,000 SF Lot available for the first time in years. This opportunity to have an income producing rental in one of the hottest development areas in all of Snohomish county is too good to pass up. Currently, it is a side by side, 2 story duplex with large bedrooms, individual garages, natural gas furnaces, fireplaces. From an investment standpoint, the neighbors all around have redeveloped into multiple units and with the Middle ZONING emphasis of the state, this could be a Devlopment site with MILLION dollar neighbors. Just half a block from the north end of the lake, the location and up side potential make this a truly unique chance to get a tremendous property.
MacPherson's Real Estate Serv.License #20118628Listed on: 06/02/2025
Source: Northwest Multiple Listing Service (NWMLS)
MLS#: 2386053
Property Details
Home Type
Multi-Family
Est. Annual Taxes
$7,317
Year Built
Built in 1983
Lot Details
0.35 Acre Lot
Value in Land
Home Design
Duplex
Poured Concrete
Composition Roof
Wood Siding
Interior Spaces
2,520 Sq Ft Home
2-Story Property
Flooring
Carpet
Vinyl
Bedrooms and Bathrooms
4 Bedrooms
4 Bathrooms
Parking
4 Parking Spaces
2 Covered Spaces
Open Parking
Utilities
Forced Air Heating System
Community Details
No Home Owners Association
Martha Lake Subdivision
Listing and Financial Details
Assessor Parcel Number 0037300100604
Property Details
Home Type
Multi-Family
Est. Annual Taxes
$7,317
Year Built
Built in 1983
Lot Details
0
Listing Details
Property Type: Residential Income
Property Sub Type: Multi Family
StyleCode: 52 - Duplex
Year Built: 1983
MLS Status: Active
Prev Status: Active
New Construction: No
CalculatedSquareFootage: 2520
EffectiveYearBuiltSource: Public Records
Special Features: None
Interior Features
Possible Use: Multi-Family
Total Bedrooms: 4
Fireplace: No
Flooring: Vinyl, Carpet
Stories: 2
SquareFootageFinished: 0
SquareFootageUnfinished: 0
BathsFullUpper: 0
BathsHalfUpper: 0
BathsThreeQuarterUpper: 0
BedroomsUpper: 0
Exterior Features
Roof: Composition
Lot Features: Value In Land
View: No
Waterfront: No
Construction Type: Wood
Exterior Features: Wood
Foundation Details: Poured Concrete
Property Condition: Fair
Structure Type: Duplex
Garage/Parking
Carport Y N: No
Covered Parking Spaces: 2
Open Parking Spaces: 2
Open Parking: Yes
Total Parking Spaces: 4
ParkingUncoveredSpaces: 2
Utilities
Sewer: Sewer Connected
Water Source: Public
Cooling: None
Cooling Y N: No
Heating: Forced Air
Heating Yn: Yes
PowerCompany: PUD
SewerCompany: Alderwood
WaterCompany: Alderwood
CableConnected: Xfinity
InternetConnected: Xfinty
WaterSewerGarbage: 0
Condo/Co-op/Association
Senior Community: No
Association: No
Common Interest: Multi-Family
Schools
Junior High Dist: Edmonds
High School: Buyer To Verify
Middle Or Junior School: Buyer To Verify
Lot Info
Parcel Number: 0037300100604
Lot Size Acres: 0.35
Lot Size Sq Ft: 15246
Zoning Description: Multi-Family
Irrigation Water Rights: No
ShowMapLink: true
MLSLotSizeSource: Public Records
MLSSquareFootageSource: PUblic Records
ZoningJurisdiction: City
Green Features
Power Production Type: Natural Gas
Rental Info
GrossRentMultiplier: 28.76
LeasedItems: None
TotalMonthlyIncome: 4000
Multi Family
Gross Scheduled Income: 48000
Net Operating Income: 39983
Number Of Units Total: 2
Insurance Expense: 1400
Leasable Area: 2580
EnergySource: Natural Gas
UnitsInBuildingTotal: 2
UnitsBelowGrade: false
VacancyRate: 0
Tax Info
Year: 2024
Tax Annual Amount: 7317
MLS Schools
Elementary School: Buyer To Verify
Map
Range of Values:
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area
Source: Public Records
Average Home Value in this Area
Source: Public Records
Tax History
Year
Tax Paid
Tax AssessmentTax Assessment
Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property.
Land
Improvement
2025
$7,188
$874,100
$530,000
$344,100
2024
$7,188
$852,200
$520,000
$332,200
2023
$7,575
$941,100
$570,000
$371,100
2022
$6,933
$700,000
$385,000
$315,000
2020
$6,057
$538,200
$328,000
$210,200
2019
$5,933
$524,800
$280,000
$244,800
2018
$5,923
$461,700
$240,000
$221,700
2017
$5,051
$405,700
$205,000
$200,700
2016
$4,448
$356,500
$180,000
$176,500
2015
$4,347
$330,800
$150,000
$180,800
2013
$3,543
$253,200
$127,000
$126,200
Source: Public Records
Property History
Date
Event
Price
Change
Sq Ft Price
06/02/202506/02/25
For Sale
$1,150,000
--
$456 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)
*REDUCED PRICE* Great Investment Opportunity in Lynnwood! Rare opportunity to own a fully occupied tri-plex in Lynnwood. Strong portfolio starter or addition. Potential for improvement by increasing to market rents and adding coin-op. Featuring 4 BD / 2.5 BA upstairs and two 1 BD / 1 BA units downstairs with a shared garage, carport and ample room for tenant and guest parking. 2 fully fenced
Duplex walking distance from Lake Serene. Each unit has a living room with a fireplace, a huge kitchen, 3 bedrooms, 2.5 baths with approx 1400 Sq Ft. Bdrms have walk-in closets, and the master has double closets. There are newer appliances and heaters in both units. There is lots of storage, a great open layout, a huge backyard fully fenced with private decks, and a large party deck on one side.
Well-Maintained Duplex on Quiet Cul-de-Sac. Spacious townhouse-style duplex with 3 beds and 2.5 baths per unit. Each unit features a mirrored floor plan with vaulted ceilings, fireplaces, and direct kitchen access to large 2-car garages. Upstairs includes a primary suite, two additional bedrooms, and a full bath. Recent updates include new vinyl flooring, new water heaters, and fresh interior and
This home is located at 15215 Larch Way, Lynnwood, WA 98087 and is currently priced at $1,150,000, approximately $456 per square foot. This property was built in 1983. 15215 Larch Way is a home located in Snohomish County with nearby schools including Oak Heights Elementary School, Alderwood Middle School, and Lynnwood High School.
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