Interbay Homes with 56 - 10+ Units Style

**Discover Interbay: Seattle's Hidden Gem**

Nestled between the bustling neighborhoods of Queen Anne and Ballard, Interbay is a vibrant Seattle enclave that offers a unique blend of urban convenience and suburban charm. Known for its diverse community and dynamic atmosphere, Interbay is an ideal spot for those seeking a place that feels both welcoming and connected.

One of the standout features of Interbay is its impressive variety of housing options, particularly homes with 56 to 10+ units. These multifamily residences cater to a range of lifestyles, from young professionals to families looking for a sense of community. With well-designed layouts and modern amenities, these homes provide the perfect backdrop for a balanced lifestyle, whether you're entertaining friends or enjoying a quiet evening at home.

The neighborhood boasts easy access to public transportation, making commuting a breeze. Just a short distance away, you’ll find the scenic waterfront, beautiful parks, and a plethora of dining and shopping options that Seattle is renowned for. Interbay is also home to several local businesses, artisanal shops, and cozy cafes, inviting residents to explore and engage with their surroundings.

For outdoor enthusiasts, Interbay is conveniently located near the Interbay Golf Center and the expansive Discovery Park, providing ample opportunities for recreation and relaxation. With its friendly atmosphere and prime location, Interbay is truly a hidden gem within Seattle, offering a perfect blend of urban living and community spirit. Whether you’re looking to buy, rent, or invest, Interbay promises a vibrant lifestyle in the heart of the Pacific Northwest.

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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