Interbay Homes with 56 - 10+ Units Style

Interbay Homes with 56 - 10+ Units Style

Welcome to Interbay, a hidden gem nestled in the heart of Seattle, Washington. Known for its stunning views and vibrant community, Interbay offers a unique blend of urban convenience and natural beauty. This neighborhood is strategically positioned between the bustling neighborhoods of Ballard and Queen Anne, making it an ideal location for those who want to experience the best of Seattle.

Interbay is characterized by its diverse architecture, with homes ranging from charming bungalows to modern multi-family units. With properties featuring 56 to 10+ units, this area is perfect for investors looking to tap into Seattle's thriving rental market or for families seeking spacious living arrangements. The contemporary designs of these homes are complemented by lush landscaping and community parks, providing residents with a serene atmosphere to unwind.

One of the standout features of Interbay is its accessibility. Residents enjoy easy access to major highways and public transportation, making commuting to downtown Seattle a breeze. The neighborhood is also home to a variety of local shops, restaurants, and recreational facilities. Whether you’re grabbing coffee at a local café or exploring the nearby Discovery Park, there’s always something to do.

For outdoor enthusiasts, the proximity to the waterfront and green spaces offers endless opportunities for hiking, biking, and enjoying the picturesque views of Puget Sound. Interbay is not just a place to live; it’s a community that fosters connection and a love for the beautiful Pacific Northwest.

Come explore Interbay—where modern living meets the charm of Seattle!

Newest Interbay Homes with 56 - 10+ Units Style

$6,000,000
2526962 MLS ⋅ ACTIVE Status
31-unit multifamily community situated in Seattle’s desirable Interbay/ Queen Anne area. Golfcrest offers investors meaningful renovation value-add upside, and seller financing is available for qualified buyers. The proposed seller financing terms are 5% interest-only rate, 25% down payment and a 5-year term. The property is comprised of a diversified unit mix that includes studio, one-bedroom, two-bedroom, and a Penthouse unit, making it well positioned to serve a broad tenant base in one of Seattle’s most supply constrained submarkets. Roughly 50% of the units have had the flooring replaced with LVP floors. Replacing the remainder of the flooring and improving the kitchens and bathrooms will result in a significant increase in rent. The property has been owned by the same family for the last 31 years. Ownership has spent over $225K in capital improvements over the last couple of years. These improvements reduce near-term capital expenditure risk while preserving the opportunity for an incoming investor to execute a targeted unit renovation program and capture meaningful rental upside.

2629 2633 14th Avenue W, Seattle

Listing courtesy of Paragon Real Estate Advisors.

$4,000,000
2527028 MLS ⋅ ACTIVE Status
The property consists of 19 one-bedroom / one-bathroom units, one one-bedroom + office / one-bathroom, and one three-bedroom / two-bathroom unit, totaling 14,975 rentable square feet across three stories of wood-frame construction. The property has been meticulously maintained during the current ownership and this is the first time the property has been marketed in 33 years. Current rents average below market across the portfolio, with one-bedroom units running approximately 6% below comparable market rents and the three-bedroom unit carrying meaningful additional upside. An investor operating the building at market rents and fully charging for parking and storage will bring the proforma cap rate to 7.0% with minimal capital needed. The building has been meticulously maintained throughout the current ownership. In 2016, elastomeric waterproof paint was applied to the rockcrete siding, the roof was replaced in 2019 along with the main water supply line, and in 2023/2024 the main sewer drain line and underground cast iron plumbing was replaced. Interbay 21 Apartments offers convenient access to major public transportation routes while being in close proximity to the employment centers, dining, retail, and neighborhood amenities of Queen Anne, Ballard, Interbay, and Magnolia. The building’s location on a quiet residential street provides a strong lifestyle appeal for its tenants and will be highly desirable for future tenants as well.

2820 15th Avenue W, Seattle

Listing courtesy of Paragon Real Estate Advisors.

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