547 S Sullivan Street, Seattle, WA 98108
- $625,000
- 1,250
- SqFt
Listing Broker: Inspire Realty; Autumn Allen; 206-604-3160; autumn@luxsolarisrealty.com
- List Price
- $625,000
- Status
- ACTIVE
- MLS#
- 2584800
- Days on Market
- 0
- Style
- 52 - Duplex
- Building Condition
- Very Good
- Finished SqFt
- 1,250
- Area Total SqFt
- 1250
- Annual Tax Ammount
- 4728
- Lot Size (sq ft)
- 4,500
- Sewer
- Sewer Connected
- Offer Review Date
- 2026-09-28
Property Description
Exceptional investment or house-hacking opportunity featuring a 6.5% Cap Rate and strong immediate cash flow in an area already transformed. Situated on a 4,500 SF LR3-zoned lot at the end of a quiet, redeveloped street, this unique property comprises two fully detached, well-maintained cottages with zero shared walls. The spacious 2-bedroom front unit and the 1-bedroom rear unit—complete with a private double driveway and new security gate—generate a combined gross income of over $4000 per month. Boasting an effective year built of 2022, the turnkey asset features updated paint, flooring, and appliances, while offering a massive future development play surrounded by new townhomes. Seller is executing 1031 exchange. Book tour today!
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Additional Information
- List Date
- 2026-09-21 20:29:12
- Community
- South Park
- Net Operating Income
- $39,695
- Gross Adjusted Income
- $48,144
- Gross Scheduled Income
- $48,144
- Total Monthly Income
- $3,822
- Insurance Expenses
- $1,264
- Water/Sewer/Garbage Expenses
- $2,457
- Gross Rent Multiplier
- 13.18
- Total Expenses
- $8,449
- Cap Rate
- 6.25
- Total Number of Units
- 2
- Unit Name
- 547
- Potential Terms
- Cash, Conventional, FHA, State Bond, VA Loan
- Year Built
- 1905
- View
- Territorial
- Roof
- Composition
- Site Features
- Fenced-Fully, High Speed Internet
- Energy Source
- Electric, Natural Gas
- School District
- Seattle
- Total Monthly Income
- $3,822
- Gross Scheduled Income
- $48,144
- Gross Adjusted Income
- $48,144
- Tax Year
- 2025
- Insurance Expense
- $1,264
- W/S/G Expenses
- $2,457
- Total Expenses
- $8,449
- Net Operating Income
- $39,695
- Gross Rent Multiplier
- 13.18
- Cap Rate
- 6.25
Based on information submitted to the MLS GRID as of . 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 noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.