All homes

$3,950,000

1031 1045 122nd Street

Seattle, WA 98146

Active

Beds

Baths

Sq Ft

Lot

1.45 ac

Year built

1979

Type

Residential Income

Days listed

33

MLS #

2569544

About this home

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.

Exterior features

StuccoWoodWood Products

Schools

Elementary

Hazel Vly Elem

Middle

Cascade Mid

High

Highline High

Property details

Heating
Baseboard, Forced Air
Cooling
None
Lot
Paved, Value In Land
Water source
Public
Sewer
Sewer Connected

Costs

Annual taxes
$38,727 (2026)

Estimate your monthly payment

$23,201/mo

Principal & interest
$19,973
Property taxes
$3,227
Loan amount $3,160,000

Estimate only — excludes homeowner's insurance and PMI. Rates shown are not a quote. Talk to us to connect with a lender.

Location

Seattle, WA 98146

Approximate location. Contact us to confirm the exact address.

Listing courtesy of Kidder Mathews— Dan Swanson.Listing data courtesy of the Northwest Multiple Listing Service (NWMLS). Information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal.

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