USAWAArlingtonArlington21125 81St Street Ne
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$7,300,000

For Sale

18 days ago

21125 81St Street Ne, Arlington, WA

House

MLS® 2505434

0 Bed

0 Bath

--

47 Parking

  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Family
Levels Residential Income
Size -
Garage Yes
Taxes $41,489
Days Active 17
Lot Size 
Approx. Age 1992
MLS® Number 2505434

Property Address: 21125 81st Street Ne, Arlington, WA, 98223

Average square foot calculated using Size range provided by listing agent.

Description

Portage Creek Apartments is a well-maintained 28-unit property located in Arlington, offering investors immediate rent growth with minimal execution risk. It has benefited from significant capital improvements, with 24/28 units already renovated featuring updated flooring, paint, cabinets, and CT. In addition, the exterior has been recently repainted, enhancing curb appeal and reinforcing the asset’s strong physical condition. Despite these upgrades, in-place rents remain below market, providing a clear opportunity to increase revenue without the need for further interior renovations. All units include in-unit W/D and feature large floor plans averaging 1, 009 SF, a compelling differentiator in the local rental market. The unit mix is further enhanced by value-added amenities, including several units with attached garages and a total of 14 garages on site, 2 of which are currently utilized by ownership and offer immediate incremental income potential. Most units also feature expansive private decks, adding an outdoor living space that supports tenant retention and higher market rents. With a strong renovation base already in place, investors can focus on mark-to-market rent growth, selective completion of remaining upgrades if desired, and long-term optionality through future redevelopment potential via the excess parking area. Collectively, these attributes position the property as a high-quality asset with multiple, low-friction avenues for income growth and appreciation.
MLS® Number2505434
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
GarageYes
Approx. Age1992
Basement
Driveway
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Apr 10, 2026List Date
$7,300,000List Price
  • Commute

Commute

Starting Address
Destination Address
21125 81St Street Ne, Arlington, WA

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