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$2,180,000
2565089 MLS ⋅ ACTIVE Status
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.

2707 W Jameson Street, Seattle

Listing courtesy of Westlake Associates, Inc..

$2,400,000
2537323 MLS ⋅ ACTIVE Status
We are pleased to present Twin Cedars Apartments, an 8-unit apartment built in 1968 in Seattle’s coveted Magnolia neighborhood, within steps of Discovery Park. The building offers 31BD averaging 732SF and 5 2BD averaging 967SF, with efficient floor plans. With 2BD units comprising 63% of the building, the unit mix is squarely aligned with the unit type that drives the strongest tenant demand and longest retention across Seattle’s rental market. _of the 8 units have been updated with stone countertops and LVP flooring, delivering a modernized interior foundation. Roof replaced and cedar siding resided in 2020 keep the exterior in sound condition, and a newly improved bike storage room adds a practical amenity that current ownership has not yet monetized. Parking income similarly remains uncaptured, giving a new owner immediate, low-effort revenue opportunities from day one. Twin Cedars operates with discipline already in place. RUBS and pet rent keep utility costs off the owner’s bottom line, and a stable, long-tenured tenant base reflects both the building’s quality and the neighborhood’s enduring appeal. With in-place rents close to market, the clearest path to income growth is the addition of in-unit laundry upon turnover. Comparable Magnolia buildings demonstrate rental premiums of 15% or more from this single upgrade, and combined with parking and bike storage activation, the income levers are identified, accessible, and ready for a new owner to execute.

3510 W Elmore Street, Seattle

Listing courtesy of Lee & Associates Commercial RE.

$2,000,000
2390679 MLS ⋅ ACTIVE Status
Portfolio of SEVEN 2 and 3 bed CONDO UNITS located at the well maintained + professionally managed Gilmanor Building, a premier Magnolia Community. Unique investment and perfect 1031 exch opportunity offers investors strong cash flow, stable rents in high appreciation zip code. Each unit is thoughtfully designed for comfort+ efficiency, ranging in size from 786-1081 sf. Units feature gas fireplaces, private balconies and newly renovated interiors. Building amenities include on-site laundry, intercom entry system, elevator, assigned parking spots and additional storage. Convenient location offers easy access to major employers, close proximity to Magnolia Village and Discovery Park. Walk Score of 77 and Bike Score of 62

4051 Gilman Avenue W, Seattle

Listing courtesy of John L. Scott, Inc.

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