$2,400,000
Est. $12,161/mo3510 W Elmore Street, Seattle, WA 98199
• Listed 2026-06-09•3 days on market
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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: June 9, 2026 at 04:59pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2537323
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3510 W Elmore Street, Seattle, WA 98199
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Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Jun 2026
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