5050 Martin Luther King Jr Way S, Seattle WA, 98118
(Active)
$2,100,000
|
2,736 sqft
|
MLS# 2199553
Last Updated: 5/12/2024 4:00 PM
Description for
5050 Martin Luther King Jr Way S
Seattle, WA 98118
Best value is in the land. Zoned LR3 RC(M). Permits in process to build 5 townhomes on back of property plus a 10 unit street facing apartment building with 2 ground floor commercial spaces. Permits will be included in the price. Property will provide a nice income stream until you are ready to develop. Existing 4-plex has been updated with 4 identical 1 bdrm units plus an unfinished basement with laundry area and room to potentialy add another unit. Seller in process of installing a new roof. Plenty of parking in the back. Light rail station is only 2 blocks away. Architectual renderings available by request.
Price
$2,100,000
Rainier Valley
King
2,736 (approx)
2199553
Active
Description
Best value is in the land. Zoned LR3 RC(M). Permits in process to build 5 townhomes on back of property plus a 10 unit street facing apartment building with 2 ground floor commercial spaces. Permits will be included in the price. Property will provide a nice income stream until you are ready to develop. Existing 4-plex has been updated with 4 identical 1 bdrm units plus an unfinished basement with laundry area and room to potentialy add another unit. Seller in process of installing a new roof. Plenty of parking in the back. Light rail station is only 2 blocks away. Architectual renderings available by request.
Listing Information
| Property Type: Fourplex, Multi-Family, 2 Story | ||
| 0.14 Acres | 2,736 (approx) | 1951 |
| 2 | Wood | Multi-Family |
Rainier Valley
Public
Neighborhood
School Information
| District: Seattle | ||
Room Information
Interior Features
None
Gas Heat, Electric Heating,
Baseboard
Exterior / Lot Features
4 Parking Spaces,
Wood
Composition
Other
Curbs,Sidewalk,Value In Land
Driving Directions
Building is on East side of MLK Jr Way S between S Hudson & S Dawson
Financial Considerations
| 2660500296 |
| $7,683 |
Conventional
Listing Price History
Seattle Real Estate
Seattle is located in Washington. Seattle, Washington 98118 has a population of 758,862.
The median household income in Seattle, Washington 98118 is $87,093. The median household income for the surrounding county is $102,088 compared to the national median of $66,222. The median age of people living in Seattle 98118 is 41 years.
Data provided below are primarily sourced from Public Records data.
Nearby Recent Sales (Sourced from Public Records)
| Street Address | City | Beds | Baths | Sold Price | Sold Date | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| No information is available for recently sold properties within this search. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Price History
| Date | Event | Price | Source |
|---|---|---|---|
| 4/4/2024 | Active | $2,100,000 USD -8.70% |
|
| 2/14/2024 | Active | $2,300,000 USD |
|
Tax History (Sourced from Public Records)
| year | Property Taxes | Change | Tax Assessment | Change |
|---|---|---|---|---|
| 2023 | $7,683 USD | -76.74% | $851,300 USD | - |
| 2022 | $33,025 USD | 283.74% | $851,300 USD | - |
| 2021 | $8,606 USD | 1.37% | $851,300 USD | - |
| 2020 | $8,490 USD | 28.75% | $851,300 USD | 17.37% |
| 2019 | $6,594 USD | -4.20% | $725,300 USD | - |