Property Details
527 S Sullivan Street
Seattle, WA 98108
$770,000
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Property Overview
This property is on LR3 zone with 6,000 sqft. It includes a triplex with 3 rental units and a backyard land. It's a rare LR3 development opportunity in Seattle’s growing South Park neighborhood with an existing triplex generating income while future redevelopment plans are explored. Potential options may include retaining existing structure with additional rear townhouse/condo development or full site redevelopment for higher-density townhome project , up to 8 townhomes (buyer to verify). Excellent opportunity for builders, developers, and long-term investors. Convenient access to Downtown Seattle, Georgetown, Boeing Field, Hwy 99 & I-5.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
King
Neighborhood
South Park
Listed
May 15, 2026
Original Price
$795,000
Financial Summary
Cap Rate
8.77%
Net Operating Income
$70,179
Gross Scheduled Income
$84,000
Gross Rent Multiplier
9.50
Total Expenses
$12,141
Vacancy Rate
2.0%
Building & Use
Building Sq Ft
2,760
Leasable Area
2,760 sqft
Total Units
3
Zoning
Residential
Possible Use
Residential
Lot Size
5,998 sqft
Year Built
1908
Exterior & Lot
Lot Size
0.14 sqft
Year Built
1908
Exterior Materials
Wood
Sewer
Available
Exterior Features
Wood
Location
City
Seattle
County
King
Coordinates
47.52708, -122.32712
Additional Information
Tax Year
2026
Annual Taxes
$7,063
Possession
Array
Based on information submitted to the MLS GRID as of May 22, 2026 9:00 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.
