$1,300,000
ActiveListing provided by Michael Urquhart, Paragon Real Estate Advisors
78
DOM
About this property.
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 details.
Features.
Exterior
Heating
Cooling
Flooring
Agent information.
Schedule a Showing
Pick a day and time, and Austin will follow up to confirm.
By continuing, you consent to be contacted by Welcome to Whatcom and John L. Scott - Bellingham about this showing via call, text, or email.
Listed by: Michael Urquhart, Paragon Real Estate Advisors
Courtesy of Paragon Real Estate Advisors
Source: NWMLS, MLS#: 2484217
Listing data deemed reliable but not guaranteed. Based on information submitted to the MLS GRID as of 05/14/2026, 03:00:46 PST. 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. Provided by NWMLS as distributed by MLS Grid.
IDX information is provided exclusively for consumers' personal, noncommercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID.
Any use or search of data on this website, other than by a consumer looking to purchase real estate, is prohibited.
Listed by Michael Urquhart, Paragon Real Estate Advisors
$1,300,000
Active2109 W Raye Street , Seattle, WA 98199
0.25
Lot Acres
1955
Year Built
78
Days on Market
0 car
Garage
About This Property
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 Details
Features
Exterior
Heating
Cooling
Flooring
Agent Information
Schedule a Showing
Pick a day and time, and Austin will follow up to confirm.
By continuing, you consent to be contacted by Welcome to Whatcom and John L. Scott - Bellingham about this showing via call, text, or email.
Listed by: Michael Urquhart, Paragon Real Estate Advisors
Courtesy of Paragon Real Estate Advisors
Source: NWMLS, MLS#: 2484217
Listing data deemed reliable but not guaranteed. Based on information submitted to the MLS GRID as of 05/14/2026, 03:00:46 PST. 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. Provided by NWMLS as distributed by MLS Grid.
IDX information is provided exclusively for consumers' personal, noncommercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID.
Any use or search of data on this website, other than by a consumer looking to purchase real estate, is prohibited.