2109 W Raye Street, Seattle, WA 98199
Local realty services provided by:Better Homes and Gardens Real Estate Pacific Commons
Listed by: michael urquhart, ben douglas
Office: paragon real estate advisors
MLS#:2484217
Source:NWMLS
2109 W Raye Street,Seattle, WA 98199
$1,300,000
- - Beds
- - Baths
- 3,409 sq. ft.
- Multi-family
- Active
Price summary
- Price:$1,300,000
- Price per sq. ft.:$381.34
About this home
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.
Contact an agent
Home facts
- Year built:1955
- Listing ID #:2484217
- Updated:February 25, 2026 at 07:02 PM
Rooms and interior
- Living area:3,409 sq. ft.
Heating and cooling
- Heating:Baseboard
Structure and exterior
- Roof:Flat Roof
- Year built:1955
- Building area:3,409 sq. ft.
- Lot area:0.25 Acres
Utilities
- Sewer:Sewer Connected
Finances and disclosures
- Price:$1,300,000
- Price per sq. ft.:$381.34
- Tax amount:$16,857 (2025)
New listings near 2109 W Raye Street
- New
$1,195,000Active3 beds 2 baths2,280 sq. ft.7027 Alonzo Avenue Nw, Seattle, WA 98117
MLS# 2483407Listed by: WINDERMERE R E MOUNT BAKER - New
$1,200,000Active3 beds 3 baths2,840 sq. ft.920 N 75th Street, Seattle, WA 98103
MLS# 2483411Listed by: LAKE & COMPANY - Open Sat, 11:30am to 1:30pmNew
$890,000Active1 beds 2 baths1,300 sq. ft.100 Ward Street #606, Seattle, WA 98109
MLS# 2483488Listed by: REALOGICS SOTHEBY'S INT'L RLTY - New
$599,950Active2 beds 2 baths1,289 sq. ft.1764 18th Avenue S, Seattle, WA 98144
MLS# 2483603Listed by: KW GREATER SEATTLE - New
$975,000Active4 beds 1 baths2,180 sq. ft.7314 16th Avenue Ne, Seattle, WA 98115
MLS# 2484035Listed by: WINDERMERE RE GREENWOOD - New
$879,000Active3 beds 2 baths1,830 sq. ft.1524 13th Avenue S #A, Seattle, WA 98144
MLS# 2484129Listed by: MLS4OWNERS.COM - New
$349,950Active1 beds 1 baths618 sq. ft.1631 16th Avenue #310, Seattle, WA 98122
MLS# 2484193Listed by: WINDERMERE RE GREENWOOD - New
$958,000Active3 beds 3 baths1,332 sq. ft.2220 Franklin Avenue E #C, Seattle, WA 98102
MLS# 2471788Listed by: BUSHNELL REAL ESTATE SOLUTIONS - Open Sun, 2 to 4pmNew
$891,000Active2 beds 2 baths1,037 sq. ft.3407 NW 57th Street, Seattle, WA 98107
MLS# 2483845Listed by: RE/MAX METRO REALTY, INC. - Open Sat, 1 to 3pmNew
$735,000Active2 beds 2 baths1,200 sq. ft.119 18th Avenue E, Seattle, WA 98122
MLS# 2483935Listed by: WINDERMERE REAL ESTATE CO.