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2109 W Raye Street, Seattle, WA 98199

Seattle
Local realty services provided by:CENTURY 21 Tri-Cities
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.

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Home facts

  • Year built:1955
  • Listing ID #:2484217
  • Updated:April 25, 2026 at 11:03 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

  • Carport spaces:2
MLS LogoListings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of April 25, 2026. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listing information is provided for consumers' personal, non-commercial use, solely to identify prospective properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Information deemed reliable but not guaranteed. Copyright © 2026 MLS GRID. All Rights Reserved.

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