Property Details
554 Prospect Street
Seattle, WA 98109
$1,950,000
Active
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Property Overview
Lower Queen Anne/Uptown: the best/closest neighborhood to downtown Seattle. Great for an owner-operator or remote owner, 554 Prospect is a rarely available, purpose-built and recently renovated, 5-unit workhorse. The location is unparalleled: a burgeoning neighborhood with easy access to a myriad of coffee, bars, restaurants, shopping & entertainment. The 2013-studs-out-renovation includes one studio, two 2-bedrooms, and two 2-bedroom + den homes (convert & use the dens as bedrooms?). Private storage units (all homes) & in-unit laundry (4 homes). Seattle Center, Climate Pledge, South Lake Union, and the top of Queen Anne are moments away. With an 84 ("Very Walkable") Walkscore, 554 Prospect is a great addition (or start) to your portfolio.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
King
Neighborhood
Queen Anne
Listed
Jan 5, 2026
Financial Summary
Cap Rate
5.67%
Net Operating Income
$110,475
Gross Scheduled Income
$152,400
Gross Rent Multiplier
12.79
Total Expenses
$41,999
Vacancy Rate
3.0%
Building & Use
Building Sq Ft
5,656
Leasable Area
3,977 sqft
Total Units
5
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
3,812 sqft
Year Built
1909
Exterior & Lot
Lot Size
0.09 sqft
Year Built
1909
Exterior Materials
Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Curbs, Paved, Sidewalk
Exterior Features
Wood Products
Location
City
Seattle
County
King
Coordinates
47.62910, -122.34584
Additional Information
Tax Year
2025
Annual Taxes
$13,807
Possession
Array
Based on information submitted to the MLS GRID as of April 25, 2026 5:11 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.
