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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

NameNeighborhoodAddressYear BuiltEffective Year BuiltNum of Units
500 W Olympic PlaceLower Queen Anne500 W Olympic Pl1962199024
756 Broadway / Broadway Co-opFirst Hill756 BROADWAY E1929199122
Aloha TerraceLower Queen Anne224 Aloha St1947198819
AmalfiQueen Anne1302 Queen Anne Ave1912199120
AvalonLower Queen Anne22 John St1908198833
Barbara FrietchieCapitol Hill1100 17th Ave1929199922
BellemoralNorth Capitol Hill711 Belmont Pl E1928199019
Cantebury CourtMadison Park2500 Canterbury Ln E1967198591
ChesterfieldCapitol Hill1810 E Republican1914198914
ConcordSouth Park1412 S Concord St196319906
CrestviewQueen Anne1623 Taylor Ave N1226199016
Empire HouseLeschi100 Martin Luther King Way1963198612
The GablesNorth Capitol Hill409 16th Ave E1911199334
Green Lake Co-opGreen Lake7866 Green Lake Dr N1941199410
Hadley HouseLower Queen Anne919 2nd Ave W1960198843
Horton & YorkMt. Baker3301 York Rd S192119876
L’AmoritaEastlake2905 Franklin Ave E 1909198521
LetitiaWedgwood8701 35th Ave NE1959198814
LoringtonCapitol Hill1107 E DENNY WAY1910198929
Los Angeles ApartmentsCapitol Hill214 Summit Ave E1917199328
MarquisCapitol Hill1605 E Olive St1926199937
MarylandNorth Capitol Hill626 13TH AVE E1910199320
Melrose TerraceCapitol Hill308 E Republican St19612002112
MoanaCapitol Hill1414 E Harrison St1907198413
Olympus ManorLower Queen Anne220 W Olympic Pl1930198334
Park VistaRavenna5810 Cowen Pl NE1928199950
PrincetonCapitol Hill1726 15th Ave1907198425
RosemontCapitol Hill214 13th Ave E1917199515
San RemoCapitol Hill606 E Thomas St1906199319
Stewart CrestNorth Capitol Hill2016 Broadway Ave E & 2020 Broadway Ave E1922199210
StrathmoreLower Queen Anne7 Harrison St1908198835
Sunny ArmsIndustrial District707 S SNOQUALMIE ST1907196919
The TroyCapitol Hill115 Bellevue Ave E1910199423
The TulaneCapitol Hill408 Bellevue Ave E1929199120
The WayfarerUniversity District4725 15th Ave NE1923199131
The WilanaCapitol Hill1732 15th Ave1909199427
The WillmarQueen Anne2021 4th Ave N1909198815
The WimbledonQueen Anne1427 3rd Ave W1930199521
Union Arts Co-opCapitol Hill1100 E Union St1916199412
Union TerraceCapitol Hill1136 13th Ave1924199631
View CrestQueen Anne515 W Olympic Pl1922199210