Magnolia Triplex 2215 W Raye St 3 Unit Apartment Building $1,350,000 ($450,000/Unit) 5% Cap Rate Seattle, WA 98199

Premier Magnolia Triplex Featuring Expansive 3BR 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 three-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 3BR/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.