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… Read More 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. Read Less
Listing courtesy of Paragon Real Estate Advisors
Listing Snapshot
Cumulative Days On Market
83
Days on Website
83
Last Updated
Property Type
Multi Family
Square Ft.
3,409
Lot Size
0.25 Acres
Year Built
1955
Property Tax
$16,857
MLS Number
2484217
30 Days Snapshot Of 98199
$1.31M
-8%
(avg) sold price
37
-27%
homes sold
43
+16%
(avg) days on market
Snapshot
Area Map
Additional Details
Utilities
Fuel Expense: 0, Electric Expense: 0, Power Production Type: "Electric"
Building
Building Area Total: 3409, Building Area Units: Square Feet, Calculated Square Footage: 3409, Elevation Units: Feet, Leasable Area: 3409, Living Area: 0, Number Of Units Total: 7, Stories Total: 2, Structure Type: "Multi Family", Units In Building Total: 7, Year Built: 1955
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. Listings last updated on ,
Confirm your time
Fill in your details and we will contact you to confirm a time.