Prime Columbia City LR3 (M) Site — Fully Rented Income Property Outstanding investment opportunity along the MLK transit corridor. This LR3 RC (M)-zoned property sits just blocks from the Columbia City Light Rail Station and is fully rented, providing immediate income while offering strong long-term redevelopment potential. The site features gentle topography, solid solar exposure, and frontage along a major arterial with full sidewalks and light rail transit access. 5 minutes walk Surrounded by single-family, townhome, and multifamily developments, this location supports a wide range of future residential uses. Perfect for investors seeking cash flow now with development upside later in one of Seattle’s fastest-growing urban villages.
Active
Listed by: Skyline Properties, Inc. • Carolyn Zheng
$2,500,000
5050 MARTIN LUTHER KING JR WAY S, Seattle, WA 98118
4beds
4baths
2,736sqft
:
Get pre-qualified$15,674/mo
Quadruplex, Multi Family
Built in 1951
-- sqft lot
$2,391,900 Zestimate®
$914/sqft
$-- HOA
What's special
Solid solar exposureGentle topography
- 25 days |
- 171 |
- 0 |
Zillow last checked:
Listing updated:
Listed by:
Carolyn Zheng,
Skyline Properties, Inc.
Source: NWMLS as distributed by MLS GRID,MLS#: 2544198
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 4
Heating
- Baseboard, Natural Gas
Cooling
- Forced Air
Features
- Flooring: Hardwood
- Has fireplace: No
Interior area
- Total structure area: 2,736
- Total interior livable area: 2,736 sqft
Property
Parking
- Total spaces: 9
- Uncovered spaces: 9
Features
- Has view: Yes
- View description: City
Lot
- Size: 6,298 Square Feet
- Features: Value In Land, Cable TV
Details
- Parcel number: 2660500296
- Zoning description: Commercial,Jurisdiction: City
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: 4-Plex
- Property subtype: Quadruplex, Multi Family
Materials
- Wood Siding
- Foundation: Block
- Roof: Built-Up
Condition
- Average
- Year built: 1951
- Major remodel year: 1987
Utilities & green energy
- Electric: Company: Seattle city light
- Sewer: Sewer Connected
- Water: Public
Green energy
- Green verification: Other
Community & HOA
Community
- Subdivision: Columbia City
Location
- Region: Seattle
Financial & listing details
- Price per square foot: $914/sqft
- Tax assessed value: $876,000
- Annual tax amount: $9,516
- Date on market: 7/3/2026
- Cumulative days on market: 26 days
- Listing terms: Conventional,Farm Home Loan,FHA
Estimated market value
$2,391,900
$2.27M - $2.51M
$3,192/mo
Price history
| Date | Event | Price |
|---|---|---|
| 7/4/2026 | Listed for sale | $2,500,000$914/sqft |
Source:  NWMLS as distributed by MLS GRID #2544198 Report a problem | ||
| 8/19/2021 | Listing removed | -- |
Source: Zillow Rental Manager Report a problem | ||
| 6/15/2021 | Listed for rent | $1,500-3.2%$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
| 1/14/2021 | Listing removed | -- |
Source: Zillow Rental Manager Report a problem | ||
| 10/11/2020 | Price change | $1,550+3.3%$1/sqft |
Source: Owner Report a problem | ||
| 9/4/2020 | Price change | $1,500-3.2%$1/sqft |
Source: Owner Report a problem | ||
| 8/3/2020 | Price change | $1,550+3.3%$1/sqft |
Source: Owner Report a problem | ||
| 6/11/2020 | Listed for rent | $1,500$1/sqft |
Source: Owner Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $9,516 +10.4% | $876,000 +2.9% |
| 2024 | $8,622 +1.1% | $851,300 |
| 2023 | $8,526 +11% | $851,300 |
| 2022 | $7,683 -6.8% | $851,300 |
| 2021 | $8,245 -4.2% | $851,300 |
| 2020 | $8,606 +1.4% | $851,300 |
| 2019 | $8,490 +28.7% | $851,300 +17.4% |
| 2018 | $6,595 -4.2% | $725,300 +9.5% |
| 2017 | $6,884 +89.4% | $662,300 +49.9% |
| 2016 | $3,634 | $441,900 +16.6% |
| 2015 | $3,634 | $378,900 +9.1% |
| 2014 | $3,634 | $347,400 |
| 2013 | $3,634 | $347,400 |
| 2012 | -- | $347,400 -8.3% |
| 2011 | -- | $378,900 |
| 2010 | -- | $378,900 |
| 2009 | -- | $378,900 +24.2% |
| 2007 | -- | $305,000 +28.2% |
| 2006 | -- | $238,000 +25.3% |
| 2005 | -- | $190,000 +21% |
| 2001 | $1,927 +16.5% | $157,000 +22.7% |
| 2000 | $1,654 | $128,000 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: Columbia City
Nearby schools
GreatSchools rating
- 6/10Hawthorne Elementary SchoolGrades: PK-5Distance: 0.8 mi
- 7/10Aki Kurose Middle SchoolGrades: 6-8Distance: 0.7 mi
- 4/10Franklin High SchoolGrades: 9-12Distance: 1.4 mi
Schools provided by the listing agent
- Elementary: M L King Elem
- Middle: Aki Kurose
- High: Franklin High
Source: NWMLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
- $978,0005 bd3 ba2.2k sqft5050 35th Ave S, Seattle, WA 98118For Sale
- $800,0002 bd2 ba1.2k sqft5035 35th Ave S, Seattle, WA 98118Sold
- $634,0002 bd2 ba1.3k sqft5031 35th Ave S #D, Seattle, WA 98118Sold
- $825,0003 bd2 ba2.6k sqft5026 Martin Luther King Jr Way S, Seattle, WA 98118Sold
- $165,000-- bd1 ba404 sqft5022 Martin Luther King Jr Way S, Seattle, WA 98118New Construction
- from $165,000-- bd1 ba404 sqftStudio Plan, Liberty Commons, Seattle, WA 98118New Construction
- from $255,0001 bd1 ba550 sqft1 Bedroom Plan, Liberty Commons, Seattle, WA 98118New Construction
- from $285,0002 bd1 ba750 sqft2 Bedroom Plan, Liberty Commons, Seattle, WA 98118New Construction
A local agent can set up tours, give advice and negotiate with sellers.
Similar homes
- $1,395,0005 bd4 ba2.6k sqft1822 S King Street #A-D, Seattle, WA 98144Active
MLS ID #2556067, Dan S. Swanson. NWMLS as distributed by MLS GRID - $2,500,0003 bd2 ba1.3k sqft7920 NE 26th Street, Medina, WA 98039Active
MLS ID #2545217, Stephen Tainter. NWMLS as distributed by MLS GRID - $1,295,0005 bd3 ba2.8k sqft1306 S Bayview Street, Seattle, WA 98144Active
MLS ID #2439670, Tyler J. Bretz. NWMLS as distributed by MLS GRID - $2,500,0003 bd3 ba2.3k sqft20802 SE 34th Street #6, Sammamish, WA 98075Active
MLS ID #2500603, Kiamalise Herres. NWMLS as distributed by MLS GRID - $1,425,0005 bd4 ba3.6k sqft1505 E Galer Street #1-4, Seattle, WA 98112ActiveMLS ID #2503402, Dan S. Swanson. NWMLS as distributed by MLS GRID
- $1,350,0004 bd3 ba1.9k sqft3604 Beach Drive SW, Seattle, WA 98116ActiveMLS ID #2528658, Jayme J. Johnson. NWMLS as distributed by MLS GRID
- $1,600,0003 bd3 ba2.9k sqft4329 86th Avenue SE, Mercer Island, WA 98040ActiveMLS ID #2551520, Barb Joseph. NWMLS as distributed by MLS GRID
- $3,135,0004 bd2 ba2.2k sqftEastland Acre, Medina, WA 98039ActiveMLS ID #2537327, Skylar Agnew. NWMLS as distributed by MLS GRID
- $1,600,0005 bd5 ba3k sqftFurths Add Plat, Seattle, WA 98102ActiveMLS ID #2506604, Mary Lavern-Oakes. NWMLS as distributed by MLS GRID
- $1,400,0006 bd3 ba3k sqft5954 Fauntleroy Way SW, Seattle, WA 98136ActiveMLS ID #2489998, Brian D. Platt. NWMLS as distributed by MLS GRID
- $1,300,0005 bd3 ba2.1k sqft1768 Alki Avenue SW, Seattle, WA 98116ActiveMLS ID #2482218, Natalie Sutey. NWMLS as distributed by MLS GRID
- $1,377,5006 bd6 ba2.9k sqft10653 10655 22nd Place S, Seattle, WA 98168ActiveMLS ID #2433334, Wei Yang. NWMLS as distributed by MLS GRID
- $2,250,0002 bd1 ba1.4k sqft4030 Factoria Boulevard SE, Bellevue, WA 98006ActiveMLS ID #2513326, Donald C. Tsai. NWMLS as distributed by MLS GRID
- $1,450,0004 bd3 ba1.7k sqftRenton Hill Add, Seattle, WA 98122ActiveMLS ID #2541786, Evelyn Hofmann. NWMLS as distributed by MLS GRID
- $2,400,0006 bd4 ba3.2k sqft13610 SE 288th Street, Kent, WA 98042ActiveMLS ID #2547556, Shirley A. Hopkins. NWMLS as distributed by MLS GRID
- $1,395,0004 bd3 ba2.6k sqftMervue Heights, Seattle, WA 98126ActiveMLS ID #2524582, David Yukuei Shen. NWMLS as distributed by MLS GRID
- $1,350,0005 bd3 ba3.4k sqftSuppl Plat G Kinnear's Add, Seattle, WA 98119ActiveMLS ID #2532884, Christina McDonald. NWMLS as distributed by MLS GRID
- $1,400,0004 bd3 ba3k sqft12703 4th Avenue NW, Seattle, WA 98177ActiveMLS ID #2557913, Shannon M. Laskey. NWMLS as distributed by MLS GRID
- $1,349,9504 bd3 ba1.7k sqft3152 NE 82nd Street, Seattle, WA 98115ActiveMLS ID #2556123, Megan Halter. NWMLS as distributed by MLS GRID
- $1,885,0003 bd3 ba2.9k sqftManor Crest No. 2, Bellevue, WA 98005ActiveMLS ID #2543901, Victoria Ormsby. NWMLS as distributed by MLS GRID
