Interbay Homes with 56 - 10+ Units Style

Interbay Homes with 56 - 10+ Units Style

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

Nestled between the bustling neighborhoods of Ballard and Queen Anne, Interbay is a charming enclave in Seattle, Washington, that beautifully combines urban convenience with a touch of suburban tranquility. Known for its picturesque views of the nearby mountains and the shimmering waters of Elliott Bay, Interbay is a prime location for those seeking a vibrant community with easy access to the best of Seattle.

Interbay boasts a diverse array of homes, particularly appealing for those looking for multifamily living options. With properties ranging from 56 units to over 10+ units, this neighborhood is perfect for investors or families seeking spacious accommodations. The architectural styles here are as varied as the residents, with modern townhomes and classic brick buildings harmoniously coexisting, providing a unique character to the area.

Residents of Interbay enjoy the convenience of nearby amenities, including parks, shopping, and dining options that cater to every palate. The scenic Interbay Golf Center offers a perfect retreat for golf enthusiasts, while the nearby Ballard Locks and beautiful waterfront parks provide ample opportunities for outdoor activities.

With its strategic location, Interbay also allows for easy commuting to downtown Seattle and other key areas, making it an ideal spot for professionals and families alike. Whether you’re looking for a cozy home or a lucrative investment opportunity, Interbay presents a delightful blend of community spirit and urban accessibility. Come explore this vibrant neighborhood and discover why so many are proud to call Interbay home!

Newest Interbay Homes with 56 - 10+ Units Style

$6,000,000
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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