$2,295,000
Est. $12,712/moPrice reduced $105,000 from the original $2,400,000 asking price
3510 W Elmore Street, Seattle, WA 98199
• Listed Jun 9, 2026•121 days active · 121 cumulative
Listing Broker: Lee & Associates Commercial RE; Dea Sumantri; 206-773-2680; dsumantri@lee-associates.com
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Listing Broker: Lee & Associates Commercial RE; Dea Sumantri; 206-773-2680; dsumantri@lee-associates.com
About this home
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.
Listed by Dea Sumantri • Lee & Associates Commercial RE
Listing updated: September 21, 2026 at 11:39pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2537323
Around this home
How much should you offer?
3510 W Elmore Street, Seattle, WA 98199
Source:RexMont analysis of Northwest MLS sales data for this ZIP code plus third-party market data (RentCast). The estimates are RexMont's, not Northwest MLS listing data.
Estimates only and not guaranteed. Consult a RexMont agent for accurate, personalized guidance before making an offer. RexMont OfferEdge™ · © 2026 RexMont Real Estate. Proprietary tool.
Property details
Layout
- 5-9 Units
Flooring
- Vinyl Plank
Heating & cooling
- Baseboard heating
- None cooling
Schools
Ratings via SchoolDiggerSchool information is unavailable for this listing. School boundaries can change, so verify the assigned schools with the district before purchasing.
Multi-family facts
As entered by the listing broker on Northwest MLS
Units
- Total units
- 8
- Units in building
- 8
- Units below grade
- true
Income & expenses
- Gross scheduled income
- $184,489
- Total monthly income
- $15,760
- Additional monthly income
- $1,154
- Gross adjusted income
- $175,265
- Net operating income
- $126,733
- Cap rate
- 5.28%
- Gross rent multiplier
- 13
- Vacancy rate
- 5%
- Total expenses
- $62,385
- Insurance
- $7,142
- Other expenses
- $21,055
- Water / sewer / garbage paid by
- 11454
Parking & storage
- Parking spaces
- 8
- Uncovered parking
- 8
Taxes & assessment
- Annual taxes
- $22,734
- Tax year
- 2026
- Financing
- Cash, Conventional
Neighborhood mobility
Doorstep, Pedal & Station Scores
Three RexMont scores for this exact address: what is on foot, what is by bike, and what rides past the door.
Ground Truth™
The ground, the slope, the flood zone and the noise at this address
Read from public hazard, flood, terrain and noise maps for this exact home.
Address Insider™
The members' report
Commute, transit, zoning and ADU potential, internet providers and the lifestyle around the home: the nearest grocery, coffee, park, services and transit stop. One free registration opens every home on rexmont.com.
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Sales & Tax Records for 3510 W Elmore Street
NWMLS via MLS Grid · King County AssessorEvery listing, pending, price change and closing filed on this home with the NWMLS, the county’s recorded sales, and its assessed values by tax year.
- Sep 22, 2026Price reducedNWMLS via MLS Grid · #2537323$2,295,000
- Jun 9, 2026ListedNWMLS via MLS Grid · #2537323$2,400,000
- Jul 18, 2017Recorded saleKing County recorder · Bargain and sale deed$10
- Dec 23, 1996Recorded saleKing County recorder · Statutory warranty deed$573,800
Mortgage payment forecast
$15,181 per month
Great rateTakes about 5 minutes & won't affect your credit
Get pre-approvedSource: RexMont estimate, not Northwest MLS listing data. Interest rates from Freddie Mac's Primary Mortgage Market Survey via FRED (Federal Reserve Bank of St. Louis). Property tax and HOA dues from the NWMLS listing where provided, otherwise estimated; insurance estimated at 0.3% of price per year.
Estimate only. Actual payment depends on credit, lender, and program. PMI not included for down payments below 20%.
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Listing Broker: Lee & Associates Commercial RE; Dea Sumantri; 206-773-2680; dsumantri@lee-associates.com
Market pulse
Seattle is a balanced market.
Supply and demand are roughly in balance. Neither side has a clear edge.
Offer insight: Well-priced homes draw multiple offers; others sell close to asking.
List to sale price: The average home sells very close to list price.
Time on market: The average home goes pending in around 48 days.
Recent sales nearby
Within 1 mile · last 6 months$920,000 Sold
2 weeks ago
3 bd•2 ba•~1,820 sq ft•Single Family
4333 32nd Avenue W, Seattle, WA 98199
7%
Under list
99
Days on market
0.2 mi
Distance
$1,741,350 Sold
2 weeks ago
4 bd•3.25 ba•~3,102 sq ft•Single Family
3319 W ELMORE Street, Seattle, WA 98199
3%
Under list
42
Days on market
0.1 mi
Distance
$995,000 Sold
2 weeks ago
2 bd•1.75 ba•~1,015 sq ft•Single Family
2629 34th Avenue W, Seattle, WA 98199
0%
Over list
8
Days on market
1.0 mi
Distance
$3,200,000 Sold
3 weeks ago
4 bd•3.5 ba•~4,245 sq ft•Single Family
2649 West Viewmont Way W, Seattle, WA 98199
0%
Over list
—
Days on market
1.0 mi
Distance
$1,450,000 Sold
4 weeks ago
4 bd•1.75 ba•~2,530 sq ft•Single Family
2904 W Tilden Street, Seattle, WA 98199
3%
Under list
113
Days on market
0.5 mi
Distance
Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
Want a deeper read on this market?
Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Oct 2026
Information and statistics derived from Northwest Multiple Listing Service. Source: Northwest Multiple Listing Service, as distributed by MLS GRID.
MLS GRID Disclaimer
Based on information submitted to the MLS GRID as of October 20, 2026 at 12:25 PM PT (date and time MLS GRID Data was obtained). 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.
Listing information courtesy of Northwest Multiple Listing Service (NWMLS). The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than RexMont Real Estate are marked with the “Listing courtesy of NWMLS” designation. Information provided is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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