1338 Alki Avenue SW 500, Seattle, WA 98116, Seattle, 98116 - 2 bed, 3 bath
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Seattle, WA 98116
This Luxury Penthouse represents a Strong Value Opportunity, listed at $1,925,000—positioned slightly above the $1,919,965 Fair Market Value. While not a discount play, the property offers a rare lifestyle asset featuring unobstructed panoramic views of Puget Sound and the Olympic Mountains. With a Fair Condition Rating due to original finishes, there is significant potential for cosmetic modernization to drive future appreciation. Located in a boutique 8-unit building with private elevator access, this is an ideal acquisition for Luxury Homeowners or Discerning Investors seeking an exclusive Alki Beach residence.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1338 Alki Avenue SW 500 Subject | $1,925,000* List Price | 2 | 3 | 2,435 | $784 | - |
A 1210 Alki Avenue SW 601 Sold | $1,349,000 | 2 | 2 | 1,742 | $774 | 0.2 mi |
B 1005 Harbor Avenue SW 400 Active | $1,349,000 List Price | 2 | 3 | 1,737 | $777 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1999, the property is approximately 27 years old. While the unit is exceptionally well-maintained and features new carpeting, the kitchen and bathrooms remain largely original to the construction date. The honey-toned wood cabinetry and white tile bathroom countertops are considered dated by modern luxury standards, placing it in the 'Fair' category based on age and the need for cosmetic updates.
This penthouse offers rare, unobstructed views of Puget Sound and the Olympic Mountains, situated in a highly desirable Alki location with immediate access to the beach and water taxi.
Direct private elevator access to the unit and a low-density boutique building with only eight total residences ensure a high level of security and exclusivity.
With over 2,400 square feet of living space, the home features high-end Travertine flooring and a versatile den, providing the scale and feel of a single-family residence.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 2, other record bedroom count = 3.
The monthly HOA fee of $1,840 is significant, which may impact the overall affordability and appeal for cost-conscious luxury buyers.
Despite the generous square footage, the property only offers two formal bedrooms, which could be a drawback for families requiring more dedicated sleeping areas.
Experience exceptional luxury in this incredible penthouse unit, boasting unobstructed panoramic views of Puget Sound and the Olympic Mountains. Sophisticated living in this sprawling 2-bedroom home with a separate den/office (that could be used as a guest space). A private elevator provides direct access to this beautiful unit, which offers 2,435 square feet of living space, Travertine floors throughout the main areas, and new and updated wall-to-wall carpeting in the bedrooms. A boutique building with only 8 units, situated in an unrivaled location on Alki. Two dedicated parking spaces in the covered garage and secure entry. Easy access to Alki Beach, water taxi, and fine dining. This is a must-see property!
No exterior & parking available.
Grades PK-5 • 0.8 mi
Grades PK-5 • 1.3 mi
Grades 6-8 • 1.3 mi
No sensitive facilities data found.
Jun 11, 2026
$1,925,000
Initial Listing