Interbay Homes with 56 - 10+ Units Style

Welcome to Interbay, a vibrant neighborhood nestled in the heart of Seattle, Washington. Known for its unique blend of urban charm and natural beauty, Interbay offers residents a dynamic lifestyle with a variety of amenities and attractions right at their doorstep.

One of the neighborhood's most appealing features is its proximity to the picturesque waterfront and stunning views of the Olympic Mountains. Interbay is conveniently located between the bustling neighborhoods of Ballard and Queen Anne, making it easy to explore the best of Seattle’s dining, shopping, and cultural offerings. For those who enjoy outdoor activities, the nearby Discovery Park provides sprawling green spaces, scenic trails, and breathtaking vistas, perfect for a weekend escape or a leisurely stroll.

Interbay is also home to a diverse range of housing options, including multi-family residences with 56 to over 10 units. These homes cater to a variety of lifestyles, whether you’re a young professional seeking a modern apartment or a family looking for a spacious community environment. The architectural styles in Interbay are as varied as its residents, featuring contemporary designs that blend seamlessly with the neighborhood’s historic charm.

With excellent public transportation links and easy access to major highways, commuting to downtown Seattle or other parts of the city is a breeze. Interbay truly offers the best of both worlds: a peaceful retreat with all the conveniences of urban living. Discover the charm of Interbay and find your perfect home in this thriving Seattle neighborhood!

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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