How to Buy a Seattle Co-op (updated for winter 2024)

What is a co-op?

Housing co-ops are when groups of people own or control the buildings where they live together.

When someone buys a co-op, they’re buying stock—or a membership—in a cooperative corporation that owns the building, land, and common areas. Buyers don’t receive a deed to the property like they would when buying a condo. Instead, they’re issued a stock certificate and proprietary lease for their unit. 

Typically, the bigger a co-op unit is, the more shares its owner(s) hold and the higher proportion of the building’s property taxes, utilities, and insurance they pay. Cooperative corporations are governed democratically with each member getting a say in decisions—from the furnace to the roof—that will impact the community.

How is it different from a condo?

Why buy a co-op?

Here are some reasons recent buyers cited for buying a co-op:

• Access to a property in a highly desirable area that they may not normally qualify for
• Property taxes are included in the HOA dues making the monthly payment much more affordable for buyers
• Stronger sense of community since all the owners must be approved by the board and usually co-ops limit the number of renters
• Able to put as little as 3% down, minimizing up-front costs

What are the benefits of a co-op?

• Property tax is included in the monthly dues  
• No excise tax when you sell (this can be a huge savings when selling!)
• Usually a stronger sense of community than with a condo
• Sometimes the homeowner dues are lower since the members of the co-op pitch in to run the building instead of paying an outside management company to do so

What are the downsides of a co-op?

What does board approval mean?

Many co-ops require an interview with the co-op board as part of the purchasing process. From our experience with representing a recent buyer in this building the interview process is pretty lightweight and the board is more concerned with the buyer having a clean background check.

Which lenders can lend on a co-op?

Tessa Gaines at National Co-op Bank
[email protected], (937) 393-7904

Julie Johnson at Cross Country
[email protected], 206-769-6031

Elizabeth Vona at Caliber
[email protected], 425-283-3860

Finding co-ops for sale

Map of Seattle Co-ops

List of Seattle Co-ops

Name	Neighborhood	Address	Year Built	Effective Year Built	Num of Units
500 W Olympic Place	Lower Queen Anne	500 W Olympic Pl	1962	1990	24
756 Broadway / Broadway Co-op	First Hill	756 BROADWAY E	1929	1991	22
Aloha Terrace	Lower Queen Anne	224 Aloha St	1947	1988	19
Amalfi	Queen Anne	1302 Queen Anne Ave	1912	1991	20
Avalon	Lower Queen Anne	22 John St	1908	1988	33
Barbara Frietchie	Capitol Hill	1100 17th Ave	1929	1999	22
Bellemoral	North Capitol Hill	711 Belmont Pl E	1928	1990	19
Cantebury Court	Madison Park	2500 Canterbury Ln E	1967	1985	91
Chesterfield	Capitol Hill	1810 E Republican	1914	1989	14
Concord	South Park	1412 S Concord St	1963	1990	6
Crestview	Queen Anne	1623 Taylor Ave N	1226	1990	16
Empire House	Leschi	100 Martin Luther King Way	1963	1986	12
The Gables	North Capitol Hill	409 16th Ave E	1911	1993	34
Green Lake Co-op	Green Lake	7866 Green Lake Dr N	1941	1994	10
Hadley House	Lower Queen Anne	919 2nd Ave W	1960	1988	43
Horton & York	Mt. Baker	3301 York Rd S	1921	1987	6
L’Amorita	Eastlake	2905 Franklin Ave E	1909	1985	21
Letitia	Wedgwood	8701 35th Ave NE	1959	1988	14
Lorington	Capitol Hill	1107 E DENNY WAY	1910	1989	29
Los Angeles Apartments	Capitol Hill	214 Summit Ave E	1917	1993	28
Marquis	Capitol Hill	1605 E Olive St	1926	1999	37
Maryland	North Capitol Hill	626 13TH AVE E	1910	1993	20
Melrose Terrace	Capitol Hill	308 E Republican St	1961	2002	112
Moana	Capitol Hill	1414 E Harrison St	1907	1984	13
Olympus Manor	Lower Queen Anne	220 W Olympic Pl	1930	1983	34
Park Vista	Ravenna	5810 Cowen Pl NE	1928	1999	50
Princeton	Capitol Hill	1726 15th Ave	1907	1984	25
Rosemont	Capitol Hill	214 13th Ave E	1917	1995	15
San Remo	Capitol Hill	606 E Thomas St	1906	1993	19
Stewart Crest	North Capitol Hill	2016 Broadway Ave E & 2020 Broadway Ave E	1922	1992	10
Strathmore	Lower Queen Anne	7 Harrison St	1908	1988	35
Sunny Arms	Industrial District	707 S SNOQUALMIE ST	1907	1969	19
The Troy	Capitol Hill	115 Bellevue Ave E	1910	1994	23
The Tulane	Capitol Hill	408 Bellevue Ave E	1929	1991	20
The Wayfarer	University District	4725 15th Ave NE	1923	1991	31
The Wilana	Capitol Hill	1732 15th Ave	1909	1994	27
The Willmar	Queen Anne	2021 4th Ave N	1909	1988	15
The Wimbledon	Queen Anne	1427 3rd Ave W	1930	1995	21
Union Arts Co-op	Capitol Hill	1100 E Union St	1916	1994	12
Union Terrace	Capitol Hill	1136 13th Ave	1924	1996	31
View Crest	Queen Anne	515 W Olympic Pl	1922	1992	10