2707 W Jameson Street, Seattle, WA 98199
- $2,180,000
- 6,375
- SqFt
Listing courtesy of Westlake Associates, Inc..
- List Price
- $2,180,000
- Status
- ACTIVE
- MLS#
- 2565089
- Days on Market
- 0
- Style
- 55 - 5-9 Units
- Finished SqFt
- 6,375
- Area Total SqFt
- 6375
- Annual Tax Ammount
- 21806
- Lot Size (sq ft)
- 6,300
- Sewer
- Sewer Connected
Property Description
Constructed in 1966, this well-maintained eight-unit apartment community features quality wood-frame construction with a durable marblecrete exterior. Ideally situated in Seattle’s highly sought-after Magnolia neighborhood, the property has historically maintained exceptionally low vacancy, driven by its premier location and strong tenant demand. The Magnolia 8-Unit Apartments offer investors an attractive value-add opportunity through the ability to increase below-market rents as units turn over, while also presenting the potential to add a legal ninth apartment unit (buyer to verify). The property’s desirable unit mix consists of five one-bedroom/one-bath units and three two-bedroom/one-bath units, along with seven on-site parking spaces and ample unrestricted street parking. Ownership has completed several meaningful capital improvements, including a full tear-off roof replacement. The building is also serviced by copper plumbing, providing long-term durability and minimizing future maintenance costs. Combining a prime Magnolia location, stable occupancy history, and clear upside potential, this offering represents an exceptional opportunity to acquire a quality multifamily asset in one of Seattle’s most established and supply-constrained neighborhoods.
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Additional Information
- List Date
- 2026-08-05 19:45:14
- Community
- Magnolia
- Net Operating Income
- $105,578
- Gross Adjusted Income
- $144,324
- Gross Scheduled Income
- $151,920
- Total Monthly Income
- $12,660
- Insurance Expenses
- $6,500
- Water/Sewer/Garbage Expenses
- $8,040
- Gross Rent Multiplier
- 14.35
- Total Expenses
- $38,746
- Cap Rate
- 4.84
- Vacancy Rate
- 5
- Total Number of Units
- 8
- Unit Name
- 2707
- Potential Terms
- Cash, Conventional, Owner Will Carry
- Year Built
- 1966
- View
- Canal, Partial, Territorial
- Roof
- Flat
- Site Features
- Deck, Patio
- Other Expenses
- 2400
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $12,660
- Gross Scheduled Income
- $151,920
- Vacancy Rate
- 5
- Gross Adjusted Income
- $144,324
- Tax Year
- 2026
- Insurance Expense
- $6,500
- W/S/G Expenses
- $8,040
- Total Expenses
- $38,746
- Net Operating Income
- $105,578
- Gross Rent Multiplier
- 14.35
- Cap Rate
- 4.84
Based on information submitted to the MLS GRID as of . 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, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.