2109 W Raye Street, Seattle, WA 98199

Seattle
Local realty services provided by:Better Homes and Gardens Real Estate McKenzie Realty
Listed by: michael urquhart, brian d. platt
Office: paragon real estate advisors
MLS#:2536841
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.

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Home facts

  • Year built:1955
  • Listing ID #:2536841
  • Updated:July 27, 2026 at 11:21 AM

Rooms and interior

  • Flooring:Carpet, Vinyl Floor
  • 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
  • Construction Materials:Cement Planked, Wood Products Exterior Finish

Utilities

  • Sewer:Sewer Connected

Finances and disclosures

  • Price:$1,300,000
  • Price per sq. ft.:$381.34
  • Tax amount:$16,857 (2025)

Parking

  • Total parking spaces:2
  • Carport spaces:2
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