2820 15th Avenue W, Seattle, WA 98119

Seattle
Local realty services provided by:Better Homes and Gardens Real Estate McKenzie Realty
Listed by: ben douglas, michael urquhart
Office: paragon real estate advisors
MLS#:2527028
Source:NWMLS
2820 15th Avenue W,Seattle, WA 98119
$4,000,000
  • - Beds
  • - Baths
  • 14,975 sq. ft.
  • Multi-family
  • Active

Price summary

  • Price:$4,000,000
  • Price per sq. ft.:$267.11

About this home

The property consists of 19 one-bedroom / one-bathroom units, one one-bedroom + office / one-bathroom, and one three-bedroom / two-bathroom unit, totaling 14,975 rentable square feet across three stories of wood-frame construction. The property has been meticulously maintained during the current ownership and this is the first time the property has been marketed in 33 years. Current rents average below market across the portfolio, with one-bedroom units running approximately 6% below comparable market rents and the three-bedroom unit carrying meaningful additional upside. An investor operating the building at market rents and fully charging for parking and storage will bring the proforma cap rate to 7.0% with minimal capital needed. The building has been meticulously maintained throughout the current ownership. In 2016, elastomeric waterproof paint was applied to the rockcrete siding, the roof was replaced in 2019 along with the main water supply line, and in 2023/2024 the main sewer...

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Home facts

  • Year built:1969
  • Listing ID #:2527028
  • Updated:May 27, 2026 at 03:51 PM

Rooms and interior

  • Flooring:Carpet, Laminate
  • Living area:14,975 sq. ft.

Structure and exterior

  • Roof:Flat Roof
  • Year built:1969
  • Building area:14,975 sq. ft.
  • Lot area:0.39 Acres
  • Construction Materials:Stucco Exterior Finish

Utilities

  • Water:Public
  • Sewer:Sewer Connected

Finances and disclosures

  • Price:$4,000,000
  • Price per sq. ft.:$267.11
  • Tax amount:$52,945 (2026)

Parking

  • Total parking spaces:20
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