The stable nucleus 174 Yb has been studied using deep-inelastic reactions and time-correlated γ-ray spectroscopy. New intrinsic states assigned include a 370-ns isomer at 1765 keV, which we associate with a predicted K π = 7 − two-quasineutron configuration. Analysis of the alignment and in-band properties of its rotational band, identified using time-correlated coincidences, allows characterization of the configuration. The properties of a newly identified rotational band built on the known 830-µs isomer at 1518 keV support the 6 + , 2-quasineutron configuration assignment proposed previously. The 6 + band is fed by a four-quasiparticle, K π = 14 + isomer at 3699 keV and several higher multiquasiparticle states, including a six-quasiparticle isomer at 6147 keV with K = (22,23). The results are discussed in terms of the states predicted on the basis of multiquasiparticle calculations. The anomalously fast K-forbidden transition strengths from the 14 + isomer are attributed to either K mixing in the neutron configuration or to random mixing in the high-level-density region. The 7 − isomer decays are not abnormal, whereas the very hindered E2 transition from the 6 + isomer to the ground-state band remains unexplained.