Property Details
2600 -2626 Thorndyke Avenue W
Seattle, WA 98119
$6,225,000
Active
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Property Overview
The Magnolia Assemblage offers a new investor the ability to acquire a 3 building portfolio suitable for a value-add opportunity located in a core Seattle area. The current arrangement offers 31 multi-family units plus a single family house. All together the assemblage represents 34,262 square feet of LR3 (M) zoned dirt suitable for a development of +/- 30 townhouses.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
King
Neighborhood
Magnolia
Listed
Jun 8, 2026
Structure Type
Multi Family
Parcel Number
2771104250
Tax & HOA
Annual Property Tax
$63,999 (2025)
Est. Monthly Tax
$5,333/mo
Financial Summary
Cap Rate
5.30%
Net Operating Income
$327,733
Gross Scheduled Income
$600,000
Gross Rent Multiplier
10.37
Total Expenses
$242,267
Vacancy Rate
5.0%
Building & Use
Building Sq Ft
17,406
Leasable Area
17,406 sqft
Total Units
31
Lot Size
34,260 sqft
Year Built
1954
Exterior & Lot
Lot Size
0.79 sqft
Year Built
1954
Exterior Materials
See Remarks
Sewer
Sewer Connected
Exterior Features
See Remarks
Community & Access
Directions
Take 1st Ave, Elliott Ave W and W Garfield St/Magnolia Bridge Ramp to Thorndyke Ave W.
Location
City
Seattle
County
King
Coordinates
47.64319, -122.38381
Additional Information
Tax Year
2025
Annual Taxes
$63,999
Possession
Array
Based on information submitted to the MLS GRID as of June 9, 2026 6:45 PM. 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.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
