Eastbay Apartments — Sale in Seattle, WA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Seattle, WA 98119

Photos

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Investment Figures

Cap rate
5.04%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

The Morse Multifamily Group is pleased to present The Eastbay, a boutique mixed-use investment opportunity located at 3232 15th Ave W in Seattle’s West Queen Anne neighborhood. Built in 2011, this well-maintained asset offers a diverse unit mix including one studio, four one-bedroom units, three two-bedroom/one-bath units, two two-bedroom/two-bath units, and two top floor two-bedroom/two-and-a-half-bath townhome units with private rooftop decks. All units feature premium amenities including in-unit washer/dryer, granite countertops, and stainless-steel appliances. The property includes two floors of garage parking inclusive of 15 spaces and a 12 on site storage units. Located in West Queen Anne with convenient access to major Seattle employers in South Lake Union, Ballard, and Downtown, the property benefits from its proximity to the Magnolia neighborhood's parks, restaurants, and waterfront amenities. The area continues to attract young professionals and families seeking quality housing with urban convenience. Eastbay Apartments presents a compelling opportunity to acquire a well-located, newer construction multifamily asset with mixed-use diversification, strong occupancy, and spacious units. Investment Highlights: • Boutique Asset: Constructed in 2011 with an average residential unit size of 900 square feet • Diverse unit mix consisting of studio, one bedroom, two bedroom, two bedroom two bath and two bedroom two and one half bath townhome layouts. • Two floors of gated garage parking accommodating 15 vehicles, a 1.25 parking /unit ratio. • Convenient access to Seattle's major employers in South Lake Union, Downtown and Ballard with proximity to Magnolia's neighborhood amenities.

Market Context

This multifamily in Seattle, WA is listed for sale. It is offered at an approximate 5.0% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Seattle, WA — view the full market.

As of Q1 2026, the Seattle / Bellevue multifamily market showed a 7.3% vacancy rate, and average asking rents near $2004.00/unit/mo. Source: multiple brokerage reports, Q1 2026.

Multifamily market FAQ

Is the Seattle / Bellevue multifamily market tightening or softening?
Vacancy is around 7.3% (Q1 2026).

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