Interbay Homes with 56 - 10+ Units Style

Interbay Homes with 56 - 10+ Units Style

Welcome to Interbay, a vibrant neighborhood nestled in the heart of Seattle, Washington. Known for its unique blend of urban convenience and natural beauty, Interbay is a hidden gem that offers residents an enviable lifestyle. With its picturesque views of the Olympic Mountains and proximity to the sparkling waters of Puget Sound, this area is perfect for those who appreciate both city life and the great outdoors.

Interbay is characterized by its diverse housing options, with a focus on multi-family homes ranging from 56 to over 10 units. This architectural style not only maximizes space but also fosters a sense of community among residents. Whether you’re looking for a cozy apartment or a spacious townhouse, Interbay has something to suit every taste and budget. The homes here are thoughtfully designed, often featuring modern amenities and open-concept layouts that cater to today’s lifestyle.

In addition to its residential charm, Interbay boasts a variety of local attractions. Enjoy a leisurely stroll through the nearby parks, or indulge in the thriving culinary scene with an array of restaurants and cafes just minutes away. The neighborhood is well-connected, with easy access to public transportation and major highways, making commuting to downtown Seattle a breeze.

For those seeking an active lifestyle, Interbay offers numerous recreational opportunities, including biking, hiking, and water sports. With its friendly atmosphere and welcoming community, Interbay is not just a place to live; it’s a place to thrive. Discover your new home in this enchanting Seattle neighborhood today!

Newest Interbay Homes with 56 - 10+ Units Style

$6,000,000
2526962 MLS ⋅ ACTIVE Status
31-unit multifamily community situated in Seattle’s desirable Interbay/ Queen Anne area. Golfcrest offers investors meaningful renovation value-add upside, and seller financing is available for qualified buyers. The proposed seller financing terms are 5% interest-only rate, 25% down payment and a 5-year term. The property is comprised of a diversified unit mix that includes studio, one-bedroom, two-bedroom, and a Penthouse unit, making it well positioned to serve a broad tenant base in one of Seattle’s most supply constrained submarkets. Roughly 50% of the units have had the flooring replaced with LVP floors. Replacing the remainder of the flooring and improving the kitchens and bathrooms will result in a significant increase in rent. The property has been owned by the same family for the last 31 years. Ownership has spent over $225K in capital improvements over the last couple of years. These improvements reduce near-term capital expenditure risk while preserving the opportunity for an incoming investor to execute a targeted unit renovation program and capture meaningful rental upside.

2629 2633 14th Avenue W, Seattle

Listing courtesy of Paragon Real Estate Advisors.

$4,000,000
2527028 MLS ⋅ ACTIVE Status
The property consists of 19 one-bedroom / one-bathroom units, one one-bedroom + office / one-bathroom, and one three-bedroom / two-bathroom unit, totaling 14,975 rentable square feet across three stories of wood-frame construction. The property has been meticulously maintained during the current ownership and this is the first time the property has been marketed in 33 years. Current rents average below market across the portfolio, with one-bedroom units running approximately 6% below comparable market rents and the three-bedroom unit carrying meaningful additional upside. An investor operating the building at market rents and fully charging for parking and storage will bring the proforma cap rate to 7.0% with minimal capital needed. The building has been meticulously maintained throughout the current ownership. In 2016, elastomeric waterproof paint was applied to the rockcrete siding, the roof was replaced in 2019 along with the main water supply line, and in 2023/2024 the main sewer drain line and underground cast iron plumbing was replaced. Interbay 21 Apartments offers convenient access to major public transportation routes while being in close proximity to the employment centers, dining, retail, and neighborhood amenities of Queen Anne, Ballard, Interbay, and Magnolia. The building’s location on a quiet residential street provides a strong lifestyle appeal for its tenants and will be highly desirable for future tenants as well.

2820 15th Avenue W, Seattle

Listing courtesy of Paragon Real Estate Advisors.

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