Exceptional value-add investment opportunity in Seattle's evolving Rainier Beach neighborhood, just moments from Lake Washington. This 7-unit multifamily property features an ideal unit mix of four 2-bedroom/1-bath units and three 1-bedroom/1-bath units, providing strong in-place income with additional revenue from on-site coin-operated laundry. Current ownership has maintained consistent occupancy while offering the next owner the opportunity to enhance value through cosmetic unit updates as vacancies occur. Investors will appreciate the potential to improve rental income over time while benefiting from immediate cash flow. Situated on an NC155(M)-zoned lot with six tandem parking spaces accommodating up to 12 vehicles, the property also offers long-term redevelopment potential (buyer to verify). Conveniently located near Lake Washington, transit, neighborhood restaurants, shopping, and ongoing community investment, this is a rare opportunity to acquire a well-performing asset with multiple avenues for future growth. Some interior photos have been virtually staged for illustrative purposes only. Virtual staging is limited to furnishings and décor.
11 days
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Zillow last checked:
Listing updated:
Listed by:
Quirina Maravilla,
eXp Realty
Source: NWMLS as distributed by MLS GRID,MLS#: 2548973
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Facts & features
Interior
Bedrooms & bathrooms
Bedrooms: 11
Bathrooms: 8
Heating
Baseboard, Wall Furnace, Electric
Cooling
None
Features
Flooring: Laminate, Vinyl, Carpet
Windows: Thermal Windows
Has fireplace: No
Interior area
Total structure area: 4,590
Total interior livable area: 4,590 sqft
Property
Parking
Total spaces: 12
Uncovered spaces: 12
Features
Has view: Yes
View description: Lake, Partial, Territorial
Has water view: Yes
Water view: Lake
Lot
Size: 4,726 Square Feet
Features: Paved, Sidewalk
Details
Parcel number: 7129304700
Zoning description: Jurisdiction: City
Special conditions: Standard
Construction
Type & style
Home type: MultiFamily
Architectural style: 5-9 Units
Property subtype: Multi Family
Materials
Brick, Wood Siding, Wood Products
Foundation: Poured Concrete
Roof: Flat,Torch Down
Condition
Fair
Year built: 1923
Major remodel year: 1984
Utilities & green energy
Electric: Company: Seattle City Light
Sewer: Sewer Connected, Company: Seattle Public Utilities
Source: Berkshire Hathaway HomeServices NW #NWM2415531Report a problem
2/2/2026
Price change
$1,699,950-5.6%$370/sqft
Source: Berkshire Hathaway HomeServices NW #NWM2415531Report a problem
9/30/2025
Listed for sale
$1,799,950$392/sqft
Source: Berkshire Hathaway HomeServices NW #NWM2415531Report a problem
8/27/2025
Listing removed
$1,799,950$392/sqft
Source: Berkshire Hathaway HomeServices NW #NWM2415531Report a problem
8/5/2025
Listed for sale
$1,799,950+291.3%$392/sqft
Source: Berkshire Hathaway HomeServices NW #NWM2415531Report a problem
7/29/2010
Sold
$460,000$100/sqft
Source: NWMLS as distributed by MLS GRID #29150604Report a problem
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Public tax history
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Monthly payment
Est. payment$--/mo
Payment breakdown
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Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included
All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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