2109 W Raye ST, Seattle, WA 98199
Dennis Day
Dennis Day

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+1(206) 295-0657

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Listed by:Paragon Real Estate Advisors • Michael Urquhart
Bought with: TEC Real Estate Inc.

$ 800,000

$ 1,300,000 38.5%

Est. payment /mo
Sold on 07/27/2026

2109 W Raye ST Seattle, WA 98199

9 Beds

7 Baths

3,409 SqFt

UPDATED:

Key Details

Sold Price $800,000

Property Type Multi-Family

Sub Type Multi Family

Listing Status Sold

Purchase Type For Sale

Square Footage 3,409 sqft

Price per Sqft $234

Subdivision Magnolia

MLS Listing ID 2536841

Sold Date 07/27/26

Style 55 - 5-9 Units

Bedrooms 9

Year Built 1955

Annual Tax Amount $16,857

Lot Size 0.253 Acres

Property Sub-Type Multi Family

Property Description

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.

Location

State WA

County King

Area 700 - Queen Anne/Magnolia

Interior

Flooring Vinyl, Carpet

Fireplace false

Exterior

Exterior Feature Cement Planked, Wood Products

View Y/N No

Roof Type Flat

Building

Sewer Sewer Connected

New Construction No

Schools

School District Seattle

Others

Senior Community No

Acceptable Financing Cash

Listing Terms Cash

Northwest MLS (NWMLS)
"Three Trees" icon indicates a listing provided courtesy of NWMLS.

Nearby Locations

Dennis Day

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(206) 295-0657

dennis.day@exprealty.com

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2109 W Raye ST