$1,300,000
Est. $6,587/mo2109 W Raye Street, Seattle, WA 98199
• Listed 2026-06-08•3 days on market
MLS GRID Disclaimer
Based on information submitted to the MLS GRID as of June 9, 2026 at 11:58am (date and time MLS GRID Data was obtained). 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 courtesy of Northwest Multiple Listing Service (NWMLS). The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than RexMont Real Estate are marked with the “Listing courtesy of NWMLS” designation. Information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
© 2026 Northwest Multiple Listing Service. All rights reserved.
Equal Housing Opportunity. RexMont Real Estate is pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin.
Talk to a local RexMont expert
Avg response under 5 mins
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.
Listed by Michael Urquhart • Paragon Real Estate Advisors
Listing updated: June 9, 2026 at 11:58am
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2536841
Open houses
No upcoming open houses scheduled for this property.
RexMont Value Snapshot
Pull the latest nearby sold homes matched on size, age, and location.
2109 W Raye Street, Seattle, WA 98199
Estimates only and not guaranteed. Consult a RexMont agent for accurate, personalized guidance before making an offer. RexMont OfferEdge™ · © 2026 RexMont Real Estate. Proprietary tool.
Neighborhood mobility
$8,317 per month
Great rateTakes about 5 minutes & won't affect your credit
Get pre-approvedEstimate only. Actual payment depends on credit, lender, and program. PMI not included for down payments below 20%.
A licensed RexMont broker will get back to you, usually in under 5 minutes during business hours.
More homes in this area that match your range.
$950,000
2822 Prosch Avenue W, Seattle, WA 98119
Jason M. Kaczor · Coast Properties
$738,000
2524 Westlake Avenue N #e, Seattle, WA 98109
Courtney Cooper Neese · Seattle Afloat LLC
$680,000
947 Nw 56th Street, Seattle, WA 98107
Irwan Ngadisastra · Skyline Properties, Inc.
$679,000
2040 Westlake Avenue N #26, Seattle, WA 98109
Danny Evanger · RE/MAX Elite
$1,475,000
2929 1st Avenue #1200, Seattle, WA 98121
Spafford Robbins · COMPASS
$915,000
80 Vine Street #703, Seattle, WA 98121
Don Kenney · Windermere Real Estate Co.
$1,489,000
315 W Galer Street #102, Seattle, WA 98119
Ben Carr · Windermere Real Estate Co.
$1,495,000
80 Vine Street #2600, Seattle, WA 98121
Don Kenney · Windermere Real Estate Co.
$1,495,000
2025 Fairview Avenue E #e, Seattle, WA 98102
Sean Boe · Windermere RE/City Group
$1,399,000
4510 Thackeray Ne, Seattle, WA 98105
Esra Como · Every Door Real Estate
$1,299,999
3130 Portage Bay Place E #c, Seattle, WA 98102
Mary Burns · Real Broker LLC
$1,000,000
9104 28th Avenue Nw, Seattle, WA 98117
Rita Edling · Better Properties N. Proctor
Seattle is a seller's market.
Inventory is low and competition is high. Sellers have more negotiating power.
Offer insight: Many homes get multiple offers, some with waived contingencies.
List to sale price: The average home sells very close to list price.
Time on market: The average home goes pending in around 5 days.
$845,000 Sold
4 weeks ago
3 bd•1 ba•~960 sq ft•Single Family
2849 36th Avenue W, Seattle, WA 98199
5%
Under list
—
Days on market
1.0 mi
Distance
$839,000 Sold
7 weeks ago
2 bd•1.5 ba•~1,096 sq ft•Single Family
2562 30th Avenue W, Seattle, WA 98199
0%
Over list
—
Days on market
0.5 mi
Distance
$1,850,000 Sold
8 weeks ago
3 bd•2.5 ba•~2,925 sq ft•Single Family
1925 35th Avenue W, Seattle, WA 98199
4%
Over list
—
Days on market
0.9 mi
Distance
$2,968,000 Sold
2 months ago
3 bd•2.5 ba•~3,940 sq ft•Single Family
1561 Magnolia Boulevard W, Seattle, WA 98199
1%
Under list
—
Days on market
0.9 mi
Distance
$799,950 Sold
3 months ago
3 bd•1 ba•~1,302 sq ft•Single Family
2844 B 22nd Avenue W, Seattle, WA 98199
0%
Over list
—
Days on market
0.2 mi
Distance
Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
Want a deeper read on this market?
Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Jun 2026
School information is unavailable for this listing. School boundaries can change, so verify the assigned schools with the district before purchasing.
