551 S Sullivan Street Seattle, WA $ 998,900
551 S Sullivan Street
$ 998,900
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551 S Sullivan Street

Seattle, WA, 98108
$ 998,900
Baths0.0 Sq 2,760

Monthly Estimate*

$ 6,232

Listed by Inspire Realty
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Studio

Multi-Family Home for sale in Seattle, WA

for $998,900. This 2,760 square foot home was built in 2003 on a lot size of 0.1033.

New Price, $10000 Buyer Bonus, Motivated Seller! Step into an exceptional income-producing property that blends comfortable living w/ cash flow. Current annual income is over $86,000 w/planned rent increase May 2026. This 2003 building is well-maintained, fully-fenced, & just minutes from the vibrant hubs of Georgetown & SoDo. It comprises of 3 units, 7 beds & 3 baths across 2,760 SF making it perfect for owner-occupant living while generating significant rental income. Main building hosts 2 spacious, identical 3-bedroom light-filled flats, updated finishes, & plus charming 1-bed cottage (DADU). This property ensures peace of mind w/ newer systems, ample off-street parking, & extra upside via redevelopment. Don’t wait to secure this one!

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Multi-Family Active

Price

$ 998,900

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 6,664

Style

Tri-plex

Lot Size

0.1033

Year Built

2003

Town/City

Seattle

County/Region

King

MLS | Web ID

2432505

Features
General
Living Area 0
Sewer Sewer Connected
Heating Forced Air Wall Unit(s)
Cooling None
Possession Closing
Roof Composition
HOA Fee 0
Security Features Partially Fenced
Year Built 2003
View Territorial
Property Subtype Multi Family
Tax Year 2025
County King
Net Operating Income 70775
Insurance Expense 2381
New Construction N
Property Type Residential Income
HOA N
Subdivision Name South Park
Special Listing Conditions None
Status Active
Directions Heading E on Cloverdale then take a L of 5th Ave S then R on S Sullivan St. Nice Private dead end street.
City Seattle
Senior Community Y/N N
High School District Seattle
Open Parking Spaces 3
Number Of Units Total 3
MLS Area 140 - West Seattle
Lot Size Units Square Feet
Lot Size Square Feet 4500
Carport Spaces 0
Carport Y/N N
Listing Terms Cash Out Conventional FHA VA Loan
Tax Annual Amount 6664
Electric Expense 0
Fuel Expense 0
Property Condition Updated/Remodeled
Public Remarks New Price $10000 Buyer Bonus Motivated Seller! Step into an exceptional income-producing property that blends comfortable living w/ cash flow. Current annual income is over $86 000 w/planned rent inc
Leasable Area 2760
Structure Type Triplex
Building Area Units Square Feet
Standard Status Active
Units Below Grade false
Units In Building Total 3
Water Sewer Garbage 7195
Property Style 53 - Tri-plex
Cap Rate 6.5
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Exterior
Exterior Amenities Cement Planked
Lot Features Adjacent to Public Land Alley Corner Lot Curbs Dead End Street Paved Secluded Sidewalk
Water Source Public
Total Parking 3
Building Area Total 2760
Lot Size Acres 0.1033
Waterfront Y/N N
Covered Spaces 0
Irrigation Water Rights Y/N N
Site Features Fenced-Partially High Speed Internet
Parking Uncovered Spaces 3
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Interior
Flooring Ceramic Tile Vinyl Vinyl Plank Carpet
Total Fireplaces 0
Total Stories 2
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Power Production Type Electric Natural Gas
Baths Three Quarter Upper 0
Bedrooms Upper 0
Baths Half Upper 0
Baths Full Upper 0
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Internal Only
OriginalMLSID NWM2432505
Street Number 1 551
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* Excluded Features
List By
Autumn Allen

Listing Agent

Inspire Realty

Broker

Affordability Calculator

$6,787
Per Month
92%
8%
0%
Monthly Principal & Interest
$6,232
Monthly Property Taxes
$555
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
257829 Elementary School
258279 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
11/7/2025$998,900 -8.36% Price Down
10/24/2025$1,090,000 -0.91% Price Down
9/11/2025$1,100,000 Listed Price

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551 S Sullivan Street, Seattle, WA, 98108 is a Multi-Family Home for sale at $998,900 with 2,760 sqft and a lot size of 0.1033. 551 S Sullivan Street is a studio with 0.0 baths and was built in 2003. The property's zip code is 98108 which is in Seattle, WA