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About the Listing 6432 - 132699,38708
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.
Listing Highlights
Interior Details
- Bedrooms: 13
- Bathrooms: 8 Full
- Appliances:
- Air Cond:
- Heating: Baseboard
- Fireplaces: 0
- Floor: Vinyl Plank
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Alley,Dead End Street,Paved,Deck,Zoning: Multi-Family
- Garage Capacity: N/A
- Parking Spaces: 8
- Zoning: Multi-Family
- Roof: Composition,Flat,Torch Down
- Others: Wood,Very Good
- Sewer: Sewer Connected
Financial Details
- Tax Amount: $22,734
- Taxes w/Assessments: N/A
- Tax/Property ID: 4235400605
- Tax Year: 2026
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Questions About..
3510 W Elmore St Seattle, WA 98199
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