We are pleased to present Twin Cedars Apartments, an 8-unit apartment built in 1968 in Seattle’s coveted Magnolia neighborhood, within steps of Discovery Park. The building offers 31BD averaging 732SF and 5 2BD averaging 967SF, with efficient floor plans. With 2BD units comprising 63% of the building, the unit mix is squarely aligned with the unit type that drives the strongest tenant demand and longest retention across Seattle’s rental market. _of the 8 units have been updated with stone countertops and LVP flooring, delivering a modernized interior foundation. Roof replaced and cedar siding resided in 2020 keep the exterior in sound condition, and a newly improved bike storage room adds a practical amenity that current ownership has not yet monetized. Parking income similarly remains uncaptured, giving a new owner immediate, low-effort revenue opportunities from day one. Twin Cedars operates with discipline already in place. RUBS and pet rent keep utility costs off the owner’s bottom line, and a stable, long-tenured tenant base reflects both the building’s quality and the neighborhood’s enduring appeal. With in-place rents close to market, the clearest path to income growth is the addition of in-unit laundry upon turnover. Comparable Magnolia buildings demonstrate rental premiums of 15% or more from this single upgrade, and combined with parking and bike storage activation, the income levers are identified, accessible, and ready for a new owner to execute.
| MLS # | 2537323 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1968 |
| Days On Site | 88 |
| Listing Provided By | Lee & Associates Commercial RE | Dea Sumantri |
| SQ Feet | 7,021 |
|---|---|
| Story(s) | 3 |
| Units | 8 |
| Zoning | Multi-Family |
| Acreage | 0.16 |
| Property View | Yes |
| Property | 22734 |
|---|
| State | WA |
|---|---|
| County | King |
| City | Seattle |
| Zip Code | 98199 |
| Area | 700 Queen Anne | Magnolia |
| Community Name | Magnolia |
| Listing VS Median (in Magnolia) | |
Price: $2,400,000 low | high Med: $961,500 sqft: 7,021 low | high Med: 1,861 $ / sqft: $342 low | high Med: $519 On site: 88 low | high Med: 97 | |
| State | WA |
|---|---|
| County | King |
| City | Seattle |
| Zip Code | 98199 |
| Area | 700 Queen Anne | Magnolia |
| Community Name | Magnolia |
| Listing VS Median (in Magnolia) | |
Price: $2,400,000 low | high Med: $961,500 sqft: 7,021 low | high Med: 1,861 $ / sqft: $342 low | high Med: $519 On site: 88 low | high Med: 97 | |
![]() | $3,999,5004200 Washington AvenueSeattle, WA 98199 |