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Listed by: Ben Douglas (206) 658-7247 , Michael Urquhart (206) 812-9123 | Paragon Real Estate Advisors (206) 623-8880
$4,000,000
Monthly Est:$19,909
23 Beds
22 Baths
14,975sqft
2820 15th Avenue W, Seattle, WA 98119
$4,000,000
$19,909/moEst:
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Multi Family
Built in 1969
$-- HOA
16,950 sqft lot
$267/sq.ft
Description
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.
- Houzeo last checked: 12 hours ago
- Listing updated: September 25, 2026 at 2:31 am
- Source: Northwest Multiple Listing Service | MLS#: NWM2527028
Property Details
Status
Pending
Type
Multi Family
No. of Stories
4
County
City
Neighborhood
Year Built
1969
HOA Fees
-
Finished Area
14,975 sqft
Lot Size
16,950 sqft lot
Basement Area
- sqft
MLS Name
Northwest Multiple Listing Service
MLS Number
NWM2527028
MLS Status
Pending
Days on Market
129
Cumulative Days on Market
128
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Location
Facts & Features
Rooms
Bedrooms & bathrooms
Bedrooms: 23
Bathrooms: 22
Interior
Flooring
Laminate, Carpet
Exterior Features
Stucco
Sewer
Sewer Connected
Heating
Wall Furnace
Cooling
None
Construction
Year Built
Year Built: 1969
Home type
Multi Family
Roof
Flat
Foundation Details
Poured Concrete
Construction Materials
Stucco
Utilities & Energy
Water Source
Public
Other Features
Subdivision Name
Interbay
Price History
| Date | Event | Price |
|---|---|---|
09/10/2026 Source: | Pending | $4,000,000 $267/sqft |
05/27/2026 Source: | Listed for Sale | $4,000,000 $267/sqft |
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Based on information submitted to the MLS GRID by Northwest Multiple Listing Service as of Oct 02, 2026, 09:01AM. 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, noncommercial use; it may not be used for any purpose other than to identify prospective properties that consumers may be interested in purchasing, that the data is deemed reliable, but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS, if any and as amended from time to time. © 2025 Northwest Multiple Listing Service. All Rights Reserved.
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