Active · Residential Income
1031 1045 SW 122nd Street , Seattle, WA 98146-2778
Seattle, WA 98146
$3,950,000
— bedrooms · — bathrooms · 0 sq ft
Listing provided by Kidder Mathews · MLS #2569544 · Active
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About this property
A garden style 17-unit community located ±2 miles from Downtown Burien and ±7 miles from Downtown Seattle. Immediate access to the RapidRide H Line connecting to Downtown Seattle and shopping, dining, and grocery. The property spans 5 buildings constructed between 1954-1979 (most units 1979) on a single parcel. Mostly 2-bed units (5 with extra 1/2 baths) plus a studio, 2 one-beds, and 2 three-beds with either 1.5 or 2 baths. 8 units have in-unit laundry, several have townhome layouts, and most have private yards. Units average 896 SF. Off-street parking lot. Average tenant tenure is 7+ years even after a 25% gross rent increase. Value-Add Options: Raise rents to market, use yard for storage and/or parking income, add bedrooms to a couple existing units, convert garage to ADU, develop an additional building, or redevelop full parcel under R4 zoning. (Buyer to verify feasibility of all development options.) Priced at less than $235,000 per unit, under $260 per square foot, and at $62 per square foot of land, the offering represents a below-replacement-cost basis for a well-located, high-upside multifamily asset in a designated Regional Growth Center.
Property details
- Property type
- Multi Family
- Year built
- 1979
- Lot size
- 62,950 sq ft
- Association dues
- $0 · frequency not provided
- Annual property tax
- $38,727 (2026)
- Parking spaces
- 32
- School district
- Highline
Listings courtesy of Northwest MLS as distributed by MLS GRID.
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