Facing the same issue but with dhcp and on ubuntu 16.04 VM.
$ lsb_release -a
No LSB modules are available.
Distributor ID: Ubuntu
Description:    Ubuntu 16.04.3 LTS
Release:        16.04
Codename:       xenial

Just after initial launch of VM, it's not accessible.
/run/network/ifstate files for interfaces are locked by ifup which only
gets released and dhcp probe begins when networking service is
restarted. After this VM becomes accessible.

$ cat /etc/network/interfaces
# This file describes the network interfaces available on your system
# and how to activate them. For more information, see interfaces(5).

source /etc/network/interfaces.d/*

# The loopback network interface
auto lo
iface lo inet loopback

# The primary network interface
auto ens3
iface ens3 inet dhcp

auto ens4
iface ens4 inet dhcp

auto ens5
iface ens5 inet dhcp

After initial launch (VM not accessible)
-----------------------------------------
$ grep -nri "ifup" /var/log/syslog 
20691:Oct 26 03:10:43 IansUbunturequest systemd[1]: Started ifup for ens5.
20692:Oct 26 03:10:43 IansUbunturequest systemd[1]: Started ifup for ens3.
20693:Oct 26 03:10:43 IansUbunturequest systemd[1]: Started ifup for ens4.
20990:Oct 26 03:10:43 IansUbunturequest ifup[1076]: /sbin/ifup: waiting for 
lock on /run/network/ifstate.ens
3
21001:Oct 26 03:10:43 IansUbunturequest ifup[1076]: /sbin/ifup: waiting for 
lock on /run/network/ifstate.ens
4
21002:Oct 26 03:10:43 IansUbunturequest ifup[1076]: /sbin/ifup: waiting for 
lock on /run/network/ifstate.ens
5
21004:Oct 26 03:10:43 IansUbunturequest systemd[1]: Started Raise network 
interfaces.
21005:Oct 26 03:10:43 IansUbunturequest systemd[1]: Reached target Network.
21015:Oct 26 03:10:43 IansUbunturequest systemd[1]: Reached target Network is 
Online.

After network restart (VM becomes accessible)
---------------------------------------------
$ less /var/log/syslog
Oct 26 03:34:34 IansUbunturequest systemd[1]: Stopping Raise network 
interfaces...
Oct 26 03:34:34 IansUbunturequest dhclient[2125]: Killed old client process
Oct 26 03:34:34 IansUbunturequest ifdown[2104]: Killed old client process
Oct 26 03:34:36 IansUbunturequest dhclient[2166]: DHCPRELEASE on ens3 to 
10.64.247.13 port 67 (xid=0x6a1fe99f)
Oct 26 03:34:36 IansUbunturequest ifdown[2104]: DHCPRELEASE on ens3 to 
10.64.247.13 port 67 (xid=0x6a1fe99f)
Oct 26 03:34:37 IansUbunturequest systemd[1]: Stopped Raise network interfaces.
Oct 26 03:34:37 IansUbunturequest systemd[1]: Starting Raise network 
interfaces...
Oct 26 03:34:37 IansUbunturequest ifup[2249]: DHCPDISCOVER on ens3 to 
255.255.255.255 port 67 interval 3 (xid=0x9fd17b39)
Oct 26 03:34:37 IansUbunturequest dhclient[2263]: Sending on   
LPF/ens3/fa:16:3e:5e:13:fb
Oct 26 03:34:37 IansUbunturequest dhclient[2263]: Sending on   Socket/fallback
Oct 26 03:34:37 IansUbunturequest ifup[2249]: DHCPREQUEST of 10.64.247.24 on 
ens3 to 255.255.255.255 port 67 (xid=0x397bd19f)
Oct 26 03:34:37 IansUbunturequest ifup[2249]: DHCPOFFER of 10.64.247.24 from 
10.64.247.13
Oct 26 03:34:37 IansUbunturequest dhclient[2263]: DHCPDISCOVER on ens3 to 
255.255.255.255 port 67 interval 3 (xid=0x9fd17b39)
Oct 26 03:34:37 IansUbunturequest dhclient[2263]: DHCPREQUEST of 10.64.247.24 
on ens3 to 255.255.255.255 port 67 (xid=0x397bd19f)
Oct 26 03:34:37 IansUbunturequest dhclient[2263]: DHCPOFFER of 10.64.247.24 
from 10.64.247.13
Oct 26 03:34:37 IansUbunturequest ifup[2249]: DHCPACK of 10.64.247.24 from 
10.64.247.13
Oct 26 03:34:37 IansUbunturequest dhclient[2263]: DHCPACK of 10.64.247.24 from 
10.64.247.13
Oct 26 03:34:38 IansUbunturequest dhclient[2263]: bound to 10.64.247.24 -- 
renewal in 4287 seconds.
Oct 26 03:34:38 IansUbunturequest ifup[2249]: bound to 10.64.247.24 -- renewal 
in 4287 seconds.

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https://bugs.launchpad.net/bugs/1588915

Title:
  ifup does not block for interface to be up with static addresses

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