Listing courtesy of Westlake Associates, Inc. 206-505-9400
$2,180,000
Constructed in 1966, this well-maintained eight-unit apartment community features quality wood-frame construction with a durable marblecrete exterior. Ideally situated in Seattle’s highly sought-after Magnolia neighborhood, the property has historically maintained exceptionally low vacancy, driven by its premier location and strong tenant demand. The Magnolia… Read More 8-Unit Apartments offer investors an attractive value-add opportunity through the ability to increase below-market rents as units turn over, while also presenting the potential to add a legal ninth apartment unit (buyer to verify). The property’s desirable unit mix consists of five one-bedroom/one-bath units and three two-bedroom/one-bath units, along with seven on-site parking spaces and ample unrestricted street parking. Ownership has completed several meaningful capital improvements, including a full tear-off roof replacement. The building is also serviced by copper plumbing, providing long-term durability and minimizing future maintenance costs. Combining a prime Magnolia location, stable occupancy history, and clear upside potential, this offering represents an exceptional opportunity to acquire a quality multifamily asset in one of Seattle’s most established and supply-constrained neighborhoods. Read Less
Listing courtesy of Westlake Associates, Inc. 206-505-9400
Listing Snapshot | Source HomeJunction
Cumulative Days On Market
5
Days on Website
34
Last Updated
Property Type
Multi Family
Square Ft.
6,375
Lot Size
0.14 Acres
Year Built
1966
Property Tax
$21,806
MLS Number
2565089
30 Days Snapshot Of 98199
$1.56M
+34%
(avg) sold price
18
-10%
homes sold
49
+22%
(avg) days on market
Snapshot
Area Map
Additional Details | Source HomeJunction
Building
Building Area Total: 6375, Building Area Units: Square Feet, Calculated Square Footage: 6375, Construction Materials: Cement, Wood, Elevation Units: Feet, Leasable Area: 6375, Living Area: 0, Number Of Units Total: 8, Stories Total: 3, Structure Type: Multi Family, Units In Building Total: 8, Year Built: 1966
The "three tree" icon indicates listings provided by Northwest Multiple Listing Service.
The listings presented here may or may not be listed by Wesley Lau. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision. The information being provided is for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumers may be interested in purchasing.
Based on information submitted to the MLS GRID as of . 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.
The "three tree" icon indicates listings provided by Northwest Multiple Listing Service. The listings presented here may or may not be listed by Iolanthe Chan-McCarthy. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision. The information being provided is for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumers may be interested in purchasing. Listings last updated on .
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