Interbay Homes with 56 - 10+ Units Style

Interbay Homes with 56 - 10+ Units Style

Welcome to Interbay, a vibrant neighborhood nestled in the heart of Seattle, Washington. Known for its eclectic blend of residential charm and urban convenience, Interbay is a hidden gem that offers something for everyone. This neighborhood boasts a unique mix of homes, particularly featuring properties with 56 to 10+ units, making it an ideal choice for investors and families alike.

Interbay is characterized by its stunning views of the iconic Space Needle and the serene waters of Elliott Bay. With a rich history rooted in maritime activities, the area has transformed into a thriving community that embraces both its past and future. Residents enjoy easy access to nearby parks, including the sprawling Discovery Park, which offers miles of trails and breathtaking scenery.

The neighborhood is well-connected to downtown Seattle, making it a prime location for those who appreciate city living while still craving a sense of community. Public transportation options are abundant, with bus routes and light rail stations conveniently located, ensuring that commuting is a breeze.

Interbay is also home to a diverse array of dining, shopping, and entertainment options. From local cafes to boutique shops, there’s always something to explore. The neighborhood’s strong sense of community is evident through its various events and gatherings, where neighbors come together to celebrate and connect.

Whether you’re looking for a spacious multi-unit property or a cozy home in a friendly neighborhood, Interbay offers a perfect blend of urban living and natural beauty. Discover the charm of Interbay and make it your next home sweet home!

Newest Interbay Homes with 56 - 10+ Units Style

$6,500,000
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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