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About the Listing 7086 - 120656,142498
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.
Listing Highlights
Status
Active
Days on Site
6
Property Type
Multi-Family
MLS ®
2484217
Year Built
1955
Total Square Footage
3,409
Lot/Acreage
0.25
Interior Details
- Bedrooms: 9
- Bathrooms: 7 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces: 0
- Floor: Vinyl,Carpet
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: Zoning: Multi-Family
- Garage Capacity: N/A
- Zoning: Multi-Family
- Roof: Flat
- Others: Cement Planked,Wood Products
- Sewer: Sewer Connected
Financial Details
- Tax Amount: $16,857
- Taxes w/Assessments: N/A
- Tax/Property ID: 2771600270
- Tax Year: 2025
Payment Calculator
Monthly Payment
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Questions About..
2109 W Raye St Seattle, WA 98199
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