2600 2634 Thorndyke Avenue W, Seattle, WA 98199

$8,325,000
25,724
SqFt

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Listing courtesy of Paragon Real Estate Advisors.

List Price
$8,325,000
Status
ACTIVE
MLS#
2536854
Days on Market
272
Style
56 - 10+ Units
Finished SqFt
25,724
Area Total SqFt
25724
Annual Tax Ammount
87742
Lot Size (sq ft)
48,462
Sewer
Sewer Connected

Property Description

Opportunities are Abundant! The Magnolia Portfolio offers a new investor the ability to acquire a 5 building assemblage suitable for a value add opportunity located in a core Seattle area. The current arrangement offers 41 residential units plus 2 commercial spaces and a single family house. All together the assemblage represents 48,462 square feet of LR3 (M) zoned dirt. The property is suitable for immediate development as multiple asset types depending on need allowing a new owner to operate the assets "as is" while navigating the permit process to maintain cash flow.

Additional Information

List Date
2025-10-27 18:44:13
Community
Magnolia
Net Operating Income
$450,187
Gross Adjusted Income
$789,236
Gross Scheduled Income
$830,775
Total Monthly Income
$69,231
Insurance Expenses
$38,250
Water/Sewer/Garbage Expenses
$73,462
Gross Rent Multiplier
10.02
Total Expenses
$339,049
Cap Rate
5.41
Vacancy Rate
5
Total Number of Units
43
Unit Name
2600 2634
Potential Terms
Cash, Conventional
Year Built
1947
Roof
Flat
Other Expenses
139595
Energy Source
Electric
School District
Seattle
Total Monthly Income
$69,231
Gross Scheduled Income
$830,775
Vacancy Rate
5
Gross Adjusted Income
$789,236
Tax Year
2025
Insurance Expense
$38,250
W/S/G Expenses
$73,462
Total Expenses
$339,049
Net Operating Income
$450,187
Gross Rent Multiplier
10.02
Cap Rate
5.41
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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