Offering • Central District, Seattle

One corner of the Central District. Two ways to win.

Renovate and reposition the existing units to today’s market, or clear the site and build the modern version of the townhome rows standing next door. Either path starts with the same thing: a full-scale, alley-loaded LR3 site two miles from downtown.

201 & 205 26TH AVE E / SEATTLE, WA 98112

Aerial view of the property with its approximate lot line outlined in orange, downtown Seattle skyline behind — Lot line approximate. Buyer to verify.

The two plays

Equal paths. Pick your lane.

This offering is built for two buyers, and neither one is the headline act. Run your numbers on whichever side is yours.

The investor play

Renovate & rent

For the value-add income buyer

The renovation math is a market-to-market spread: original-condition two-bedrooms in the area lease around $2,300 to $2,700, while renovated two-bedrooms with parking achieve roughly $3,100 to $3,600. The asset arrives occupied and income-producing on day one, and month-to-month tenancies leave you in full control of renovation pacing and re-leasing.

Original-condition 2BR, area $2,300 to $2,700
Renovated 2BR w/ parking $3,100 to $3,600
Tenancies Month-to-month
Rent roll On request

Market rents per published sources, mid-2026. Unit mix, achievable rents, and tenancy terms to be verified by buyer; rent roll available to qualified buyers.

The developer play

Raze & build new

For the townhome builder

The exit is visible from the property line: newer townhome rows already stand on the adjacent parcels. Clear a site with no demolition complexity, use the alley for parking-behind design that maximizes sellable frontage, and let in-place holding income carry design and permitting.

Zoning Lowrise 3 (LR3)
Preliminary capacity ~8 homes
CD townhome median list ~$823K
Holding income during predev In place

Capacity estimate is preliminary and unconfirmed. Buyer to verify through independent feasibility, survey, and land use analysis.

Site fundamentals

LR3

Seattle's most flexible lowrise zone

~2 mi

To downtown Seattle

Walk Score, Central District

2026

Link 2 Line opened at Judkins Park

Elevated corner view of 201 and 205 26th Ave E, decks facing the street and Puget Sound on the horizon

Property overview

What you are buying

Offering price: $2,000,000
Address: 201 & 205 26th Ave E
Neighborhood: Central District / Central Area
Zoning: Lowrise 3 (LR3)
Existing use: Multifamily rental, about six units
Tenancies: Legacy month-to-month
Access: 26th Ave E frontage; rear alley
Parcels & site area: See title report; buyer to verify

Offered as-is, where-is, subject to existing tenancies. All information approximate; buyer to verify to their own satisfaction.

Market snapshot • Spring 2026

The spread that powers both plays

Detached prices push buyers and renters toward attached housing. That gap shows up as townhome absorption for the builder and rent depth for the investor, on the same block.

~$975K

King Co. single-family median

NWMLS-reported

~$823K

CD townhome median list

Redfin, mid-2026

~$3,300

Avg 2BR rent, Central District

ApartmentList

Median days on market, Seattle

Spring 2026

Figures are approximate market indications from published sources, not appraisals, and must be independently verified by the buyer.

Location

Two miles from downtown,
connected three ways

Rail at Judkins Park

The Link 2 Line opened in March 2026 with one-seat service west to downtown Seattle and east to Bellevue and Redmond, trains about every ten minutes.

RapidRide G on Madison

Bus rapid transit a short walk north links First Hill's medical campuses and downtown with service frequent enough that schedules are unnecessary.

Walk Score 90

Madison Valley restaurants, the E Union corridor, the Arboretum, and daily-needs retail sit within a fifteen-minute walk of the site.

Sales process

Offered at $2,000,000. Get the full memorandum.

The complete 28-page offering memorandum covers interim income, market data, lot line exhibits, and offer guidelines. Tours are available by appointment; the property is tenant occupied, so please do not walk the site unannounced.

Request the full OM Call 206.673.3419