Vivian Peterson
Windermere R.E. Shoreline
(206) 312-6821
50 Total Sales
1 in Southeast Magnolia
$1,800,000 Price
Listed by Paragon Real Estate Advisors, Bought with TEC Real Estate Inc.
2109 W Raye St Seattle, WA 98199
Southeast Magnolia Neighborhood
9
Beds
7
Baths
3,409
Sq Ft
0.25
Acre Lot
Highlights
- No HOA
- Baseboard Heating
- Carpet
- Mcclure Middle School Rated A-
- Wood Siding
About This Home
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.
Last Agent to Sell the Property
Paragon Real Estate Advisors License #135356 Listed on: 06/08/2026
Source: Northwest Multiple Listing Service (NWMLS)
MLS#: 2536841
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Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $16,857
Year Built
- Built in 1955
Parking
- 2 Covered Spaces
Home Design
- Flat Roof Shape
- Poured Concrete
- Wood Siding
- Cement Board or Planked
- Wood Composite
Interior Spaces
- 3,409 Sq Ft Home
- 2-Story Property
Flooring
- Carpet
- Vinyl
Bedrooms and Bathrooms
- 9 Bedrooms
- 7 Bathrooms
Additional Features
- 11,000 Sq Ft Lot
- Baseboard Heating
Community Details
- No Home Owners Association
- Magnolia Subdivision
Listing and Financial Details
- Assessor Parcel Number 2771600270
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Southeast Magnolia, WA
-
Vivian Peterson
-
Derek Colby
Derek Colby
Realty Advantage
(360) 803-3813
56 Total Sales
1 in Southeast Magnolia
$1,235,000 Price
-
Brady McMullin
Brady McMullin
Real Property Associates, Inc.
(206) 222-4994
37 Total Sales
1 in Southeast Magnolia
$855,000 Price
-
Lauren Moore
Lauren Moore
Hansen Group Real Estate Inc
(206) 338-3773
98 Total Sales
1 in Southeast Magnolia
$480,000 Price
-
Katlin Lee
Katlin Lee
Realogics Sotheby's Int'l Rlty
(425) 749-4343
57 Total Sales
1 in Southeast Magnolia
$679,000 Price
-
Meredith Laws
Meredith Laws
COMPASS
(206) 203-6433
29 Total Sales
1 in Southeast Magnolia
$400,000 Price
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Quit Claim Deed | -- | Accommodation | |
| Quit Claim Deed | $2,315,993 | Accommodation |
Source: Public Records
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $18,130 | $1,684,000 | $1,683,000 | $1,000 |
| 2024 | $16,857 | $1,684,000 | $1,683,000 | $1,000 |
| 2023 | $15,825 | $1,684,000 | $1,683,000 | $1,000 |
| 2022 | $17,055 | $1,816,000 | $1,815,000 | $1,000 |
| 2021 | $17,861 | $1,816,000 | $1,815,000 | $1,000 |
| 2020 | $16,126 | $1,816,000 | $1,815,000 | $1,000 |
| 2018 | $13,932 | $1,651,000 | $1,650,000 | $1,000 |
| 2017 | $10,886 | $1,376,000 | $1,375,000 | $1,000 |
| 2016 | $11,234 | $1,101,000 | $1,100,000 | $1,000 |
| 2015 | $9,901 | $1,101,000 | $1,100,000 | $1,000 |
| 2014 | -- | $991,000 | $990,000 | $1,000 |
| 2013 | -- | $936,000 | $935,000 | $1,000 |
Source: Public Records
Agents Affiliated with this Home
-
Michael Urquhart
Seller's Agent in 2026
Michael Urquhart
Paragon Real Estate Advisors
(206) 812-9123
2 in this area
90 Total Sales
-
Brian Platt
Seller Co-Listing Agent in 2026
Brian Platt
Paragon Real Estate Advisors
(206) 812-9130
2 in this area
47 Total Sales
-
Chris Soon
Buyer's Agent in 2026
Chris Soon
TEC Real Estate Inc.
(425) 802-0518
1 in this area
14 Total Sales
Map
Source: Northwest Multiple Listing Service (NWMLS)
MLS Number: 2536841
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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. Listing information is provided by the Northwest Multiple Listing Service (NWMLS). Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with the 3 tree icon and provided by NWMLS. All properties are subject to prior sale or withdrawal. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID. ©2026 NWMLS.
Based on information submitted to the MLS GRID
Listings courtesy of Northwest Multiple Listing Service (NWMLS) as distributed by MLS GRID
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