Property Details
2215 W Raye Street
Seattle, WA 98199
$1,350,000
Active
Schedule a Showing
Select your date preference
Request More Info
1 / 15
Property Overview
Premier Magnolia Triplex Featuring Expansive 2BR Floorplans & Iconic Seattle Views Located at the end of a quiet Magnolia cul-de-sac, 2215 W Raye St presents a rare opportunity to acquire a meticulously maintained and extensively updated triplex featuring oversized two-bedroom floor-plans, sweeping Elliott Bay and city views, and strong in-place cash flow. Originally built in 1965, the property has benefited from major upgrades including copper plumbing supply lines, double-pane vinyl windows, new exterior paint, and renovated unit interiors featuring luxury vinyl plank flooring, updated tile work, and upgraded appliances. The property consists of one 2BR/1BA unit totaling approximately 1,195 SF and two spacious 2BR/1.5BA units averaging approximately 1,244 SF. Each residence offers fireplaces, formal dining rooms, large covered view decks, private in-unit laundry, and highly functional layouts that create a true single-family home feel. The upper two units enjoy panoramic Elliott Bay, Seattle skyline, and Mount Rainier views. The property also offers four dedicated parking stalls plus an attached two-car garage and is ideally located just moments from Bayview Park, Downtown Magnolia’s shops and restaurants, and convenient access to Downtown Seattle, South Lake Union, Queen Anne, Fremont, and Ballard.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
King
Neighborhood
Magnolia
Listed
May 18, 2026
Financial Summary
Cap Rate
5.00%
Net Operating Income
$67,483
Gross Scheduled Income
$107,976
Gross Rent Multiplier
12.50
Total Expenses
$36,174
Vacancy Rate
4.0%
Building & Use
Building Sq Ft
3,683
Leasable Area
3,683 sqft
Total Units
3
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
5,001 sqft
Year Built
1965
Exterior & Lot
Lot Size
0.11 sqft
Year Built
1965
Garage
2 spaces
Exterior Materials
Wood
Sewer
Sewer Connected
Lot Features
Dead End Street, Paved
Exterior Features
Wood
Location
City
Seattle
County
King
Coordinates
47.64270, -122.38550
Additional Information
Tax Year
2026
Annual Taxes
$16,301
Possession
Array
