For Sale41d on market
2109 W Raye Street
Seattle, WA, 98199 • Interbay • King County
$1,300,000
$381/sqft
9Beds
7Baths
3,409Sqft
0.25 acLot
1955Built
Property DNA
5-9 Units Style
Built 1955 · 71 years of history
Magnolia
Interbay
This home is getting attention
Listed 41 days ago · 588 views · 14 saves
Market activity
Demand and pricing signals for this listing
588 views
People checking out this listing
14 saves
Buyers have saved this home
41 days on market
Established listing
$381/sqft
Price per square foot
About this home
Multi Family · Built 1955
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.
Estimated monthly payment
Based on current rates
$8,090/month
Principal & Interest$6,357
Property Tax$1,300
Insurance$433
Down payment20% ($260,000)
3%50%
Est. 6.18% rate · 30yr fixed · $1,040,000 loan
Full calculator →At a glance
Key facts and listing details
TypeMulti Family
Year Built1955
HeatingBaseboard, Electric
CoolingNone
Parking2 Covered Parking spaces
Days on Zillow41 Days
Price/sqft$381
Property
Home typeMulti Family
Sub-typeMulti Family
Style5-9 Units
Year built1955
Systems
HeatingBaseboard, Electric
CoolingNone
RoofFlat
ConstructionCement Planked, Wood Products, Cement Plank
Water / SewerSewer Connected
Parking & Outdoor
Lot0.25 Acres
Location & Tax
NeighborhoodInterbay
Annual tax$16,857
Parcel2771600270
Features & details
4 categories of property features
Interior Features
Flooring
Vinyl
Carpet
Heating
Baseboard
Electric
Cooling
None
Exterior Features
Construction
Cement Planked
Wood Products
Cement Plank
Listing insights
Market data and value estimates
StatusFor Sale
Days on market41
Est. value$1,250,100
Est. rent$2,844/mo
Tax rate0.82%
Price/sqft$381
On marketFeb 23, 2026
PostedFeb 24, 2026
MLS statusActive
MLS updatedFeb 25, 2026
Tour days9
Views588
Favorites14
How are the schools in Seattle?
3 schools rated nearby
Location
Seattle, WA, 98199
Price history
1 event
DateEventPrice$/sqftSource
Feb 24, 2026Listed For Sale$1,300,000$381NWMLS as distributed by MLS GRID
Listed For Sale$1,300,000
Feb 24, 2026•$381/sqft•NWMLS as distributed by MLS GRID
Nearby homes
Neighborhood details
Local context around this listing
Seattle, WA • King County
Nearby neighborhoods
AdamsCapitol HillFirst HillFremontGreenwoodMagnoliaMinorRavennaUniversity DistrictWallingford
Nearby cities
AuburnBellevueBothellFederal WayKentKirklandRedmondRenton
Nearby zip codes
98040981039810598109981159811798118981229812598133
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Based on information submitted to the MLS GRID as of 2026-04-06 23:54:20 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. [Click here for more information](/mls-disclaimers/#39)
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