MLS #2484217 / Listing provided by NWMLS & Paragon Real Estate Advisors.
$1,300,000
2109 W Raye Street
Seattle,
WA
98199
Sq Ft
Per Sq Ft
Year Built
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.
Disclaimer: The information contained in this listing has not been verified by Hawkins-Poe Real Estate Services and should be verified by the buyer.
Bedrooms
- Upper Level Bedrooms: 0
Fireplaces
- Total Fireplaces: 0
Heating & Cooling
- Heating: Yes
- Cooling: No
Parking
- Garage Spaces: 0
- Total Uncovered Parking Spaces: 0
Structure
- Roof: Flat
- Exterior Features: Cement Planked, Wood Products
- Foundation: Poured Concrete
Lot Details
- Acres: 0.2525
- Foundation: Poured Concrete
Schools
- High School District: Seattle
Lot Details
- Acres: 0.2525
- Foundation: Poured Concrete
Power
- Energy Source: Electric
Water, Sewer, and Garbage
- Sewer: Sewer Connected
- Water, Sewer, and Garbage: 13064
Christine Wilson
Broker | REALTOR®
Send Christine Wilson an email