2109 W Raye ST, Seattle, WA 98199
2109 W Raye ST, Seattle, WA 98199
2109 W Raye ST, Seattle, WA 98199
2109 W Raye ST, Seattle, WA 98199
2109 W Raye ST, Seattle, WA 98199
2109 W Raye ST, Seattle, WA 98199
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Serena Kendall

Serena Kendall

+1(509) 383-8243
Listed by:Paragon Real Estate Advisors • Michael Urquhart
$ 1,300,000
Est. payment | /mo

9 Beds

7 Baths

3,409 SqFt

Save
$ 1,300,000
Est. payment | /mo
Save

9 Beds

7 Baths

3,409 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,409 sqft

Price per Sqft $381

Subdivision Magnolia

MLS Listing ID 2536841

Style 55 - 5-9 Units

Bedrooms 9

Year Built 1955

Annual Tax Amount $16,857

Lot Size 0.253 Acres

Property Sub-Type Multi Family

Property Description

7-unit apartment building (6 units + 1 non-conforming) located in Seattle's highly desirable Magnolia neighborhood. The property sits on an oversized 11,000 square foot LR3 (M) zoned lot, offering investors a rare combination of significant operational upside, long-term redevelopment optionality, and premium location fundamentals. The asset is currently 48% below market rents and 76% below renovated market rents, creating immediate and meaningful upside through a systematic renovation and lease-up strategy. Investors can capitalize on strong in-place demand while preserving future development flexibility under favorable zoning. Additionally, four adjacent properties are also available for sale, providing a compelling assemblage opportunity for developers or long-term holders seeking scale.

Location

State WA

County King

Area 700 - Queen Anne/Magnolia

Interior

Flooring Vinyl, Carpet

Fireplace false

Exterior

Exterior Feature Cement Planked, Wood Products

View Y/N No

Roof Type Flat

Building

Sewer Sewer Connected

New Construction No

Schools

School District Seattle

Others

Senior Community No

Acceptable Financing Cash

Listing Terms Cash

Northwest MLS (NWMLS)
"Three Trees" icon indicates a listing provided courtesy of NWMLS.

NEARBY SCHOOLS & PROPERTIES

Serena Kendall

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(509) 383-8243

serena@serenakendallhomes.com

10121 W. Clearwater Suite 102, Kennewick, WA, 99336, United States

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2109 W Raye ST