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 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.
| MLS # | 2565089 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1966 |
| Days On Site | 33 |
| Listing Provided By | Westlake Associates, Inc. | Travis Kannier |
| SQ Feet | 6,375 |
|---|---|
| Story(s) | 3 |
| Units | 8 |
| Zoning | Multi-Family |
| Acreage | 0.14 |
| Property View | Yes |
| Property | 21806 |
|---|
| State | WA |
|---|---|
| County | King |
| City | Seattle |
| Zip Code | 98199 |
| Area | 700 Queen Anne | Magnolia |
| Community Name | Magnolia |
| Listing VS Median (in Magnolia) | |
Price: $2,180,000 low | high Med: $960,000 sqft: 6,375 low | high Med: 1,980 $ / sqft: $342 low | high Med: $485 On site: 33 low | high Med: 83 | |
| State | WA |
|---|---|
| County | King |
| City | Seattle |
| Zip Code | 98199 |
| Area | 700 Queen Anne | Magnolia |
| Community Name | Magnolia |
| Listing VS Median (in Magnolia) | |
Price: $2,180,000 low | high Med: $960,000 sqft: 6,375 low | high Med: 1,980 $ / sqft: $342 low | high Med: $485 On site: 33 low | high Med: 83 | |
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