Active

Listed by: COMPASS • Zachary Lazo • 206-250-8017

$550,000

321 S Third Street, Shelton, WA 98584

8beds

4baths

6,320sqft

$3,488/mo

Get pre-qualified

Quadruplex, Multi Family

Built in 1945

-- sqft lot

$-- Zestimate^®

$87/sqft

$-- HOA

What's special

New roof

Strong rental income today, exciting potential for tomorrow! This centrally located Shelton fourplex is a great investment opportunity or an ideal house hack—live in one unit and let rent from the others help cover your mortgage payment. Each well-kept unit features 2 bedrooms and 1 bath, with one currently vacant, creating an opportunity for owner-occupied financing. Great long-term tenants occupy the other three units, and vacancies have historically been easy to fill. Renovated just a few years ago with a new roof, windows, and siding, the building also generates washer and dryer income. Nearly 3,000 square feet of unused storage space offers exceptional potential for added revenue, and a property management company is available for ongoing management. Established income, major updates, and room to build value!

--: on Zillow
570: views
49: saves

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 8
Bathrooms: 4

Heating

Baseboard, Forced Air, Wall Furnace, Electric

Cooling

Window Unit(s)

Features

Flooring: Vinyl, Carpet
Has fireplace: No

Interior area

Total structure area: 6,320
Total interior livable area: 6,320 sqft

Property

Parking

Total spaces: 8
Uncovered spaces: 8

Lot

Size: 8,276 Square Feet
Features: Dead End Street, Paved

Details

Parcel number: 320195402901
Special conditions: Standard

Construction

Type & style

Home type: MultiFamily
Architectural style: 4-Plex
Property subtype: Quadruplex, Multi Family

Materials

Cement Planked, Wood Siding, Cement Plank
Foundation: Poured Concrete, Slab
Roof: Composition

Condition

Updated/Remodeled
Year built: 1945

Utilities & green energy

Sewer: Sewer Connected
Water: Public

Community & HOA

Community

Subdivision: Downtown

Location

Region: Shelton

Financial & listing details

Price per square foot: $87/sqft
Tax assessed value: $470,670
Annual tax amount: $4,895
Date on market: 10/23/2026
Listing terms: Conventional,FHA,VA Loan

Estimated market value

Not available

Estimated sales range

Not available

Price history

Date	Event	Price
10/23/2026	Listed for sale	$550,000+398.7%$87/sqft
Source: NWMLS as distributed by MLS GRID #2596172 Report a problem
8/30/2017	Sold	$110,281-34.3%$17/sqft
Source: Public Record Report a problem
3/28/2011	Sold	$167,750$27/sqft
Source: NWMLS as distributed by MLS GRID #91204 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$4,895 +1.8%	$470,670 +1.5%
2024	$4,807 +5.3%	$463,905 +20.3%
2023	$4,564 +13.2%	$385,655 +22.8%
2022	$4,030	$314,005 +13%
2021	--	$277,945 +14.7%
2020	$3,769 +7.7%	$242,310 +3.9%
2018	$3,499 +18.2%	$233,210
2017	$2,960 -24%	$233,210 +12.3%
2016	$3,895 +21.4%	$207,665
2015	$3,207 +1.7%	$207,665 +2.1%
2014	$3,154	$203,465 -20.4%
2013	$3,154	$255,450 +32.7%
2012	--	$192,500 -14.4%
2011	--	$225,000