Property Details
1056 S Sullivan Street
Seattle, WA 98108
$900,000
Active
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Property Overview
Classic craftsman meets 4 plex and a 3 car garage! Income property or redevelopment property….you choose. 4 units of 500 sq ft . 1 bed 1bath. Zoned RSL(M) Turn-Key Investment with Excellent Cash Flow. 2 units STR and 2 LTR. This historic 1901 Craftsman offers a rare, turn-key opportunity for savvy investors in the heart of Seattle’s South Park neighborhood. Well maintained and boasting a strong tenant history, this property is designed for immediate cash flow and long-term value. : Approximately 2,600 sq. ft. of interior space across a well-designed 4-unit layout. Craftsman charm with convenient location, featuring wood exterior finishes and a durable composition roof. Ample Parking: Rare for the area, this property includes 6 total parking spaces (3 covered and 3 uncovered). Currently cash-flowing with an excellent track record of high occupancy. Corner Lot Appeal: The property sits on a 6,000 sq. ft. corner lot with alley access, offering extra privacy.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
King
Neighborhood
South Park
Listed
May 15, 2026
Financial Summary
Cap Rate
6.00%
Net Operating Income
$57,472
Gross Scheduled Income
$78,000
Gross Rent Multiplier
11.50
Total Expenses
$19,943
Vacancy Rate
10.0%
Building & Use
Building Sq Ft
2,040
Leasable Area
2,040 sqft
Total Units
4
Zoning
See Remarks
Possible Use
See Remarks
Lot Size
5,998 sqft
Year Built
1901
Exterior & Lot
Lot Size
0.14 sqft
Year Built
1901
Garage
3 spaces
Exterior Materials
Wood
Sewer
Available
Lot Features
Corner Lot, Curbs, Paved, Sidewalk
Exterior Features
Wood, Wood Products
Location
City
Seattle
County
King
Coordinates
47.52755, -122.31779
Additional Information
Tax Year
2025
Annual Taxes
$7,215
Possession
Array
Based on information submitted to the MLS GRID as of May 19, 2026 4:30 PM. 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.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
