$3,950,000
 $21,204 est/mo Sourced by Back At You

1031 1045 SW 122nd Street,Seattle, WA 98146

Seattle, WA 98146

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Description

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.

Details

MLS #2569544
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1979
Days On Site25
Listing Provided ByKidder Mathews | Dan Swanson

Features

SQ Feet15,888
Garage2
Story(s)2
Units17
ZoningMulti-Family
Acreage1.45

Taxes

Property38727

Area Information

StateWA
CountyKing
CitySeattle
Zip Code98146
Area130 Burien | Normandy Park
Community NameBurien
School DistrictHighline High
Elementary SchoolHazel Vly Elem
High SchoolHighline High
Listing VS Median (in Burien)
Price:
$3,950,000
low | high
Med:
$595,000
100% of Average
sqft:
15,888
low | high
Med:
1,900
100% of Average
$ / sqft:
$249
low | high
Med:
$313
24.039173884077% of Average
On site:
25
low | high
Med:
172
14.53488372093% of Average
Sourced by Back At You

Market Activity 98146

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Learn More About This Property

StateWA
CountyKing
CitySeattle
Zip Code98146
Area130 Burien | Normandy Park
Community NameBurien
School DistrictHighline High
Elementary SchoolHazel Vly Elem
High SchoolHighline High
Listing VS Median (in Burien)
Price:
$3,950,000
low | high
Med:
$595,000
100% of Average
sqft:
15,888
low | high
Med:
1,900
100% of Average
$ / sqft:
$249
low | high
Med:
$313
24.039173884077% of Average
On site:
25
low | high
Med:
172
14.53488372093% of Average
Sourced by Back At You
Listing Updated: August 18, 2026 at 9:44:43 AM PDT