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The offering consists of a five-unit multifamily property comprised entirely of one-bedroom/one-bathroom units, with updates completed over the years and Elliott Bay views from the upper units. The property offers potential to add an additional unit with a private entrance, creating further income upside (Buyer to Verify). Adjacent to the building is a 2,100 square foot flat lot that is well suited for townhouse-style development, with upper-floor views enhancing the site's long-term redevelopment or expansion potential. Currently, two of the five units have been renovated, while the remaining units present a clear value-add opportunity through cosmetic upgrades, allowing new ownership to push rents toward market levels. The property is well maintained and features original hardwood floors, abundant storage, recently resealed back decks, updated electrical systems with full rewiring, copper plumbing, five individual gas furnaces, and on-site coin-operated laundry, providing a strong foundation for stable operations and future improvements.

Property Details of 1425 Palm Avenue SW

Property Details

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Community

Listed by Will Douglas of Paragon Real Estate Advisors

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Listing data courtesy of NWMLS as provided by MLS Grid as of May 15, 2026 9:34 AM EDT . All data is obtained from various sources and has not been, and will not be, verified by broker or NWMLS. All information should be independently reviewed and verified for accuracy.  Properties may or may not be listed by the office/agent presenting the information. Supplied Open House Information is subject to change without notice. Many homes contain recording devices, and buyers should be aware they may be recorded during a showing. Listing data shown with the three tree icon are provided courtesy of NWMLS. Some IDX listings have been excluded from this website. IDX information is provided exclusively for consumers’ personal non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.  The data is deemed reliable but is not guaranteed.

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