2109 W Raye Street Seattle, WA 98199
2109 W Raye Street
Seattle, WA 98199
$1,300,000
Multi-Family
0 Beds
0.00 Baths
0 SqFt
Active
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.
Property Features
Community: Magnolia
5-9 Units
Exterior: Cement Planked
Exterior: Wood Products
Roof: Flat
Year Built: 1955
2025 Taxes: $16857.00
Buyer Broker Comp.: 1.5%
Listing #: 2484217
Lot Details
Lot Size: 0.25 acres
No. of Units: 7
Interior
Cooling: None
Heating: Baseboard
Electric
Call or Email:
Grace Wamwere
What's Near 2109 W Raye Street Seattle, WA 98199?
Information is based on data available to the associate, including county records. The information has not been verified by the associate and all information presented should be verified by the buyer. Listings are provided by Northwest Multiple Listing Service as distributed by MLS GRID. The associate represented on this web site is not a multiple listing service but is a member of a local MLS.
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