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Listings/Magnolia Triplex

Magnolia Triplex

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Executive Summary

Magnolia 3 is a rare opportunity to invest in one of Seattle’s most desirable neighborhoods.

From the small-town vibe of Magnolia Village to outdoor adventures in Discovery Park, Magnolia’s neighborhood character has largely been insulated from Seattle’s development boom, while still providing easy access to the region’s top employers.

A classic triplex rounds out the investment, with value-add opportunities and favorable financing options for owner occupants and investors.

Site Details

Address
3213 21st Avenue W, Seattle, WA 98199
Parcel Size
4,980 SF
Parcel Number
277060-1890
Zoning
LR1

Development Details

Units
3
Year Built
1965
NRSF
3,496 SF
Avg Unit Size
1,165 SF
Parking
5

Investment Opportunity

Value Add

Three classic units offer various value-add opportunities for new owner

High-Demand Submarket

Increased demand has resulted in a 114% increase in the neighborhood's median sales price per door

Expedia Moving to Interbay

Offers employees a round-trip commute up to 74% faster than average work commutes

Favorable Lending

Excellent loans available for owner-occupants and investors alike

Location

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Magnolia Triplex

3213 21st Ave W
Seattle, WA 98199
Units: 3
Price: $1,295,000

About the Area

Surrounded by water on three sides, this peninsula neighborhood feels like an escape from the city without having to hop on a freeway.

The small-town vibe, which has been protected from Seattle’s recent development boom, attracts families and young professionals alike seeking a peaceful place to call home.

Magnolia is anchored by Discovery Park, the largest park in Seattle. Once home to Fort Lawton, it now offers residents miles of trails, beach access, a play area, and even an outdoor classroom. At the western-most tip, the West Point Lighthouse has guided ships into Elliott Bay since 1881.

Magnolia 3 benefits from easy access to bourgeoning retail along 15th Avenue West in the Interbay neighborhood, as well as the Magnolia Village if you choose to stay west of the railroad tracks. The Village is home to the Magnolia Farmers Market during the summer, everyday staples for running errands, and local favorites with international flavor, such as Mondello Ristorante Italiano and the Petit Pierre Bakery.

$108,800

Average Income (0.5 Mile)

37.6

Median Age (0.5 Mile)

7,310

Current Population (0.5 Mile)

Contact Us

Exclusive Listing Brokers

Colliers International WA LLC is the exclusive Listing Brokerage for this Offering. Dylan Simon, Jerrid Anderson, and Matt Laird are exclusively representing the Seller in the sale of the Magnolia Triplex.

Direct: 206.414.8575

       
       

Direct: 425.736.5516