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JRJeff ReynoldsCompass · Seattle

Listed by Charles Burnett, Real Broker LLC

3,200
Square feet
$406
Per sq ft
Multi Family
Type
1986
Year built
3,760 sq ft
Lot
179
Days on market

About this property

Turn-key 8-unit asset with strong income potential and multiple operating strategies. Property is currently configured as hotel-style studio units, each fully furnished with a full bath and kitchenette, and was previously operated as overflow lodging for a nearby hotel. Units are separately metered for electric, providing flexibility to continue as short-term or extended-stay lodging, or reposition as long-term rentals for more traditional multifamily cash flow. Strong rent-per-square-foot potential with additional value-add upside. Property features 8 ground-level parking spaces plus a second-floor storage room already plumbed for future laundry installation. First time on the market — owned by the original owner with recent roof replacement and major capital improvements already completed. Excellent access to I-5 and Hwy 99, with close proximity to downtown supporting consistent rental demand and long-term investment appeal.

Location & commute

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Directions

Property details

Listing details

Listing number
#2492452
Listed
March 13, 2026
Days on market
179 (includes a prior listing period)
Price per sq ft
$406
Original list price
$1,567,500

Unit & building

Stories in building
3
Units in building
8

Parking

Covered spaces
5
Total spaces
8

Views

View
Territorial

Construction

Year built
1986
Style
55 - 5-9 Units
Structure
Multi Family
Roof
Torch Down

Heating & cooling

Heating
Wall Furnace
Cooling
Wall Unit(s)
Energy source
Electric

Flooring

Flooring
Ceramic TileLaminateVinyl PlankCarpet

Lot

Lot features
CurbsSidewalk
Lot size
3,760 sq ft

Terms

Terms offered
Cash

Utilities

Water
Public
Sewer
Sewer Connected

Schools

District
Seattle

What stands out to you?

Mark features you love or could do without. Saved on this device to tune what you see.

  • Territorial
  • Multi Family
  • Torch Down
  • Wall Furnace
  • Wall Unit(s)
  • Electric
  • Ceramic Tile
  • Laminate
  • Vinyl Plank
  • Carpet
  • Curbs
  • Sidewalk

Listing history

  1. Listed

    $1,567,500

    March 13, 2026

  2. Current price

    $1,300,000

Derived from current MLS listing fields. Full multi-cycle status history is on the roadmap.

Payment estimate

An estimate to help you plan, not a loan offer or financial advice.

Est. monthly

$7,571

Principal & interest
$6,574
Property tax (est.)
$997

Assumes $260,000 down (20%), a $1,040,000 loan at 6.5% over 30 years. Property tax is an estimated figure, not MLS data (verify with the county assessor). Excludes insurance, PMI, and closing costs. Not a commitment to lend or financial advice.

Similar nearby listings

Based on information submitted to the MLS GRID as of July 13, 2026 at 11:45 PM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.