2845 21st Ave W - Magnolia Triplex

Paragon Real Estate Advisors is pleased to announce the exclusive listing of the Magnolia Triplex, ideally located in the residential Magnolia neighborhood. This triplex features two 2-bedroom, 1-bathroom units and one 1-bedroom, 1-bathroom unit. One of the 2-bedroom units is currently occupied by the owner, who is flexible and willing to vacate upon closing or agree to a short leaseback if needed. The other 2-bedroom unit was recently vacated, and the 1-bedroom unit has a long-term tenant. The owner’s unit has seen moderate updates over the years and the other two units are in classic condition. A common laundry room includes three large storage units available for tenant use and four off-street parking spots in the alley.
This triplex offers a new buyer multiple investment strategies, making it a great opportunity. The property holds potential for full redevelopment or the addition of an ADU/DADU on the back of the property (buyer to verify). It also presents an option for the new buyer to renovate the vacant 2-bedroom unit with modern finishes immediately after closing. Alternatively, the vacant units could be leased at market rate.
Magnolia is a Seattle neighborhood offering a quiet residential environment with convenient access to downtown, via bus or car. The area features Discovery Park, Seattle's largest green space, and a variety of local shops and services in Magnolia Village. It’s a desirable location for those seeking a balance between city living and outdoor activities.