2109 W Raye Street Seattle, WA $ 1,300,000
2109 W Raye Street
$ 1,300,000
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2109 W Raye Street

Seattle, WA, 98199
$ 1,300,000
Baths0.0 Sq 3,409

Monthly Estimate*

$ 8,004

Listed by Paragon Real Estate Advisors
2109 W Raye Street, Seattle, WA 98199 - Image 1
2109 W Raye Street, Seattle, WA 98199 - Image 2
2109 W Raye Street, Seattle, WA 98199 - Image 3
2109 W Raye Street, Seattle, WA 98199 - Image 4
2109 W Raye Street, Seattle, WA 98199 - Image 5
2109 W Raye Street, Seattle, WA 98199 - Image 6
2109 W Raye Street, Seattle, WA 98199 - Image 7
2109 W Raye Street, Seattle, WA 98199 - Image 8
2109 W Raye Street, Seattle, WA 98199 - Image 9
Studio

Multi-Family Home for sale in Seattle, WA

for $1,300,000. This 3,409 square foot home was built in 1955 on a lot size of 0.2525.

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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Multi-Family Active

Price

$ 1,300,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 16,857

Style

5-9 Units

Lot Size

0.2525

Year Built

1955

Town/City

Seattle

County/Region

King

MLS | Web ID

2484217

Features
General
Living Area 0
Sewer Sewer Connected
Heating Baseboard
Cooling None
Possession Subject to Tenant Rights
Roof Flat
HOA Fee 0
Garage Spaces 0
Year Built 1955
Property Subtype Multi Family
Tax Year 2025
County King
Net Operating Income 83468
Insurance Expense 7000
New Construction N
Property Type Residential Income
HOA N
Subdivision Name Magnolia
Possible Use Multi-Family
Special Listing Conditions None
Status Active
Directions From I5 take exit for NE 80th. Left on 15th ave NW right on W Dravus. Left on 20th. Straight on Thorndyke. Property is on the left.
City Seattle
Senior Community Y/N N
High School District Seattle
Zoning Description Multi-Family
Number Of Units Total 7
MLS Area 700 - Queen Anne/Magnolia
Lot Size Units Square Feet
Lot Size Square Feet 11000
Carport Spaces 2
Carport Y/N N
Listing Terms Cash
Tax Annual Amount 16857
Electric Expense 0
Fuel Expense 0
Public Remarks 7-unit apartment building (6 units + 1 non-conforming) located in Seattles highly desirable Magnolia neighborhood. The property sits on an oversized 11 000 square foot LR3 (M) zoned lot offering inve
Leasable Area 3409
Structure Type Multi Family
Building Area Units Square Feet
Standard Status Active
Units Below Grade false
Units In Building Total 7
Water Sewer Garbage 13064
Property Style 55 - 5-9 Units
Cap Rate 6.03
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Exterior
Exterior Amenities Cement Planked Wood Products
Foundation Details Poured Concrete
Building Area Total 3409
Lot Size Acres 0.2525
Waterfront Y/N N
Covered Spaces 2
Irrigation Water Rights Y/N N
Parking Uncovered Total 0
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Interior
Flooring Vinyl Carpet
Total Fireplaces 0
Total Stories 2
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Power Production Type Electric
Baths Three Quarter Upper 0
Bedrooms Upper 0
Baths Half Upper 0
Baths Full Upper 0
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Internal Only
OriginalMLSID NWM2484217
Street Number 1 2109
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* Excluded Features
List By
Michael Urquhart

Listing Agent

Paragon Real Estate Advisors

Broker

Affordability Calculator

$9,409
Per Month
85%
15%
0%
Monthly Principal & Interest
$8,004
Monthly Property Taxes
$1,405
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
257829 Elementary School
258279 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
2/24/2026$1,300,000 Listed Price

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2109 W Raye Street, Seattle, WA, 98199 is a Multi-Family Home for sale at $1,300,000 with 3,409 sqft and a lot size of 0.2525. 2109 W Raye Street is a studio with 0.0 baths and was built in 1955. The property's zip code is 98199 which is in Seattle, WA