2475 55th Avenue SW, Seattle, WA 98116, Seattle, 98116 - 0 bed, 0 bath
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2475 55th Avenue SW
Seattle, WA 98116
ACTIVE
CONDITION: FAIR
0Beds
0Baths
2,892Sq Ft
3,850Lot Size
Property Price
LIST PRICE$1,399,000
EST. MARKET VALUE
$1,353,258
3% AboveMARKET VALUE
SUMMARY
This 4-plex represents a High-Potential Investment Opportunity, listed at $1,399,000—positioned slightly above the $1,353,259 Fair Market Value. While the property requires minor updates given its Fair Condition Rating, the asset offers significant rental demand due to its prime location two blocks from Alki Beach. Featuring in-unit laundry, private patios, and dedicated parking, this property is well-positioned for long-term stability. Located near highly-rated schools like Alki Elementary, this is a strategic acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a value-add multifamily asset in West Seattle.
Estimated Market Value
$1,353,258
Based on Realkey algorithm analyzing recent comparable sales in Seattle.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2475 55th Avenue SW Subject 0 bd · 0 ba · 2,892 sqft · $468 | $1,399,000* List Price | 0 | 0 | 2,892 | $468 | - |
A 2810 Alki Avenue SW Sold 0 bd · 0 ba · 3,020 sqft · $497 · 0.5 mi | $1,500,000 | 0 | 0 | 3,020 | $497 | 0.5 mi |
B 2352 49th Avenue SW Active 0 bd · 0 ba · 3,360 sqft · $342 · 0.5 mi | $1,150,000 List Price | 0 | 0 | 3,360 | $342 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1988 (38 years old), the property is dated and falls into the Fair category. While the exterior appears well-maintained and the listing describes the 4-plex as 'nicely maintained,' the age suggests that the kitchens, bathrooms, and mechanical systems are likely original or dated, requiring minor repairs and modern updates to remain competitive.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Coastal Location
Situated just two blocks from Alki Beach Park, the property offers exceptional tenant appeal with immediate access to waterfront recreation, popular dining, and a convenient commute to downtown Seattle.
- High-Demand Unit Amenities
Each of the four units is equipped with essential modern conveniences including private balconies or patios, dedicated on-site parking, and in-unit laundry hookups, which significantly enhance rental competitiveness.
- Strong Educational Profile
The property is located within the boundaries of highly-rated schools, including Alki Elementary (8/10), providing long-term investment stability and attracting a reliable tenant base.
CONSRISKS & DEFICIENCIES
- Compact Living Dimensions
With a total of 2,892 square feet distributed across four units, the average living space is relatively small, which may limit the maximum achievable rent for the two-bedroom configurations.
- Limited Lot Utility
The 3,850 square foot lot is largely occupied by the structure and required parking spaces, leaving minimal common outdoor area or potential for future building expansion.
About 2475 55th Avenue SW
Great investment and location in West Seattle within 2 blocks of highly desired Alki Beach Park. Tenants love to walk to restaurants, bars, parks, trails, bike trails and sandy Alki Beach. Built in 1988 and has been nicely maintained 4-plex multifamily. Two of the rental units have 2 bedrooms and 1 bathroom, and two of the rental units have 1 bedroom and 1 bathroom. Each unit has inside washer and dryer hook-up. Each unit has private patio or balcony. Each unit has 1 parking space on the property. Less than 20 minutes to downtown Seattle.
Property Details
Public Facts
- Property Type
- Residential Income
- Year Built
- 1988
- Lot Size
- 3,850 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Seattle Unified Schools
Alki Elementary School
Grades PK-5 • 0.3 mi
8/10
Lafayette Elementary School
Grades PK-5 • 0.7 mi
8/10
Madison Middle School
Grades 6-8 • 0.8 mi
7/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 2,892 | 5,554.5 |
| Lot Size | 3,850 | 10,915.5 |
| Price | $1.40M | $2.88M |
| Price per sq ft | $484 | $491 |
| Built year | 1988 | 1961 |
| HOA | $0 | $0 |
| Days on market | 11 | 124 |
Pricing History
Listed for Sale
Oct 13, 2026
$1,399,000
Initial Listing