2600 -2626 Thorndyke Avenue W, Seattle, WA 98119

$6,225,000
17,406
SqFt

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Listing courtesy of Paragon Real Estate Advisors.

List Price
$6,225,000
Status
ACTIVE
MLS#
2536846
Days on Market
143
Style
56 - 10+ Units
Finished SqFt
17,406
Area Total SqFt
17406
Annual Tax Ammount
63999
Lot Size (sq ft)
34,262
Sewer
Sewer Connected

Property Description

The Magnolia Assemblage offers a new investor the ability to acquire a 3 building portfolio suitable for a value-add opportunity located in a core Seattle area. The current arrangement offers 31 multi-family units plus a single family house. All together the assemblage represents 34,262 square feet of LR3 (M) zoned dirt suitable for a development of +/- 30 townhouses.

Additional Information

List Date
2026-03-05 18:43:19
Community
Magnolia
Net Operating Income
$327,733
Gross Adjusted Income
$570,000
Gross Scheduled Income
$600,000
Total Monthly Income
$59,650
Insurance Expenses
$27,250
Water/Sewer/Garbage Expenses
$51,154
Gross Rent Multiplier
10.37
Total Expenses
$242,267
Cap Rate
5.3
Vacancy Rate
5
Total Number of Units
31
Unit Name
2600 -2626
Potential Terms
Cash, Conventional
Year Built
1954
Roof
Composition, Flat
Other Expenses
99864
Energy Source
Electric
School District
Seattle
Total Monthly Income
$59,650
Gross Scheduled Income
$600,000
Vacancy Rate
5
Gross Adjusted Income
$570,000
Tax Year
2025
Insurance Expense
$27,250
W/S/G Expenses
$51,154
Total Expenses
$242,267
Net Operating Income
$327,733
Gross Rent Multiplier
10.37
Cap Rate
5.3
Based on information submitted to the MLS GRID as of . 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.
IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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