$2,800,000
Est. $15,509/mo7,990 sq ft
2600 Thorndyke Avenue W, Seattle, WA 98199
• Listed Oct 13, 2026•1 day active · 1 cumulative
Listing Broker: Paragon Real Estate Advisors; Michael Urquhart; 206-812-9123; michael@paragonrea.com
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Listing Broker: Paragon Real Estate Advisors; Michael Urquhart; 206-812-9123; michael@paragonrea.com
About this home
This well located 22-unit apartment building sits on a 21,860 square foot LR3 (M) zoned lot in Seattle's Magnolia neighborhood. On the market for the first time in 40 years the building was built in 1954 and offers 22 open one-bedroom units, a common laundry room, 24 storage units, 10 open parking stalls and a community barbecue area. Property has been self-managed for decades, and current rents are well below the market for a small one-bedroom in this submarket, giving a buyer room to add income on turnover. The lot is also a covered land play: a Cone Architecture feasibility study lays out 14 townhomes on this parcel alone, or about 30 across this parcel and the adjoining parcels at 2618 and 2626 Thorndyke Ave W, which are also available. Residents are minutes from Magnolia Village, Discovery Park, Fishermen's Terminal and the Interbay employment corridor, with 15th Ave W, the RapidRide D Line and the Ballard Bridge close by.
Listed by Michael Urquhart • Paragon Real Estate Advisors
Listing updated: October 13, 2026 at 02:28pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2593827
Around this home
How much should you offer?
2600 Thorndyke Avenue W, 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
- 10+ Units
Flooring
- Engineered Hardwood
- Vinyl
- Carpet
Heating & cooling
- Baseboard heating
- None cooling
Schools
Ratings via SchoolDigger- Magnolia Elementary SchoolPublic · Grades PK-5 · 0.4 mi · State rank 113 of 1,13810/10
- McClure Middle SchoolPublic · Grades 6-8 · 1.3 mi · State rank 36 of 51410/10
- The Center SchoolPublic · Grades 9-12 · 2.1 mi · State rank 28 of 39610/10
Schools shown are the nearest public Elementary, Middle, and High school for this property and may not be the assigned schools. Verify attendance boundaries with the district before purchasing.
Multi-family facts
As entered by the listing broker on Northwest MLS
Units
- Total units
- 22
- Units in building
- 22
- Units below grade
- false
- Building square feet
- 7,990 sq ft
Income & expenses
- Gross scheduled income
- $389,065
- Total monthly income
- $32,422
- Additional monthly income
- $3,932
- Gross adjusted income
- $369,611
- Net operating income
- $219,923
- Cap rate
- 7.85%
- Gross rent multiplier
- 7.2
- Vacancy rate
- 5%
- Total expenses
- $149,688
- Insurance
- $12,658
- Other expenses
- $64,532
- Water / sewer / garbage paid by
- 39742
Parking & storage
- Parking spaces
- 10
- Uncovered parking
- 10
Taxes & assessment
- Annual taxes
- $32,756
- Tax year
- 2025
- 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.
Opens with the report above.
Sales & Tax Records for 2600 Thorndyke Avenue W
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.
- Oct 13, 2026ListedNWMLS via MLS Grid · #2593827$2,800,000$350/sq ft
- Jun 8, 2026ListedNWMLS via MLS Grid · #2536846$6,225,000$779/sq ft
- Dec 14, 2009Recorded saleKing County recorder · Quit claim deed$2,315,993$290/sq ft
Mortgage payment forecast
$18,939 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: Paragon Real Estate Advisors; Michael Urquhart; 206-812-9123; michael@paragonrea.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 49 days.
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 14, 2026 at 11:11 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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HO
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