Martha Lake Duplex for Sale | Value-Add Multi-Family Investment Opportunity with Expansion Potential in Snohomish County
Martha Lake Duplex Investment Opportunity with Development Potential
Located just half a block from the north end of Martha Lake, this fully rented duplex presents a rare opportunity to secure a high-performing multi-family investment property with significant upside potential. Situated in the desirable Martha Lake subdivision in Lynnwood, within Snohomish County, this property combines immediate rental income with long-term development possibilities—making it an ideal addition to any real estate portfolio.
Strong Cash Flow with Value-Add Potential
Built in 1983, this well-positioned duplex offers approximately 2,520 square feet of total building area on an oversized 15,246 square foot lot. The property is fully occupied with long-term tenants, currently paying below-market rents—providing investors with the opportunity to increase income over time.
Each unit benefits from natural gas forced air heating, practical layouts, and access to garage parking, contributing to tenant retention and consistent occupancy.
Expand Your Investment: Duplex to Fourplex Potential
One of the most compelling features of this property is its development upside. A newly recorded ingress/egress easement across the southern neighboring property provides access to the expansive backyard—unlocking the potential to add up to two additional units.
With no wetlands, full access to public sewer, and utilities already connected, the site is primed for expansion. Investors have the opportunity to transform this duplex into a fourplex, maximizing rental income and significantly increasing property value in a growing rental market.
Property Highlights
- Multi-family residential income property (duplex)
- Fully rented with long-term tenants
- Total building area: 2,520 sq ft
- Lot size: 15,246 sq ft
- Potential to add up to 2 additional units
- Newly recorded ingress/egress easement for backyard access
- Natural gas forced air heating
- 2 garage spaces and covered parking
- Public sewer and water connected
- No wetlands – development-friendly lot
- Wood siding, composition roof, poured foundation
- Built in 1983 | Two-story structure
Prime Location Near Martha Lake and Key Amenities
This property’s proximity to Martha Lake Park offers residents access to walking trails, waterfront recreation, and scenic outdoor space—enhancing tenant appeal and long-term desirability.
Additionally, the property benefits from convenient access to major commuting routes, nearby retail, dining, and everyday amenities throughout Lynnwood and the surrounding Snohomish County area. The continued growth and demand in this region further support long-term investment stability and appreciation.
Why Invest in Martha Lake, Lynnwood Real Estate?
The Martha Lake area continues to attract both renters and investors due to its balance of suburban comfort and accessibility to the greater Puget Sound region. With strong rental demand, limited inventory, and increasing development interest, properties like this—offering both income and expansion potential—are increasingly rare.
Schedule a Showing or Learn More
This is a unique opportunity to acquire a performing asset with built-in upside in one of Snohomish County’s most desirable residential areas.
For more information or to schedule a private tour, contact:
Kyle Moore
425.385.0098
kpmoore@macphersons.com
Click HERE to learn more.
