2706 56th Avenue SW, Seattle, WA 98116, Seattle, 98116 - 2 bed, 1 bath
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2706 56th Avenue SW
Seattle, WA 98116
ACTIVE
CONDITION: FAIR
2Beds
1Baths
1,770Sq Ft
5,302Lot Size
Property Price
LIST PRICE$995,000
EST. MARKET VALUE
$982,307
SUMMARY
This Cape Cod Single Family Residence represents a High-Potential Investment Opportunity, listed at $995,000—positioned slightly above the $982,307 Fair Market Value. While the property requires cosmetic updates given its Fair Condition Rating, the prime location one block from Alki Beach provides significant long-term value. The home features a private backyard patio and flexible lower-level space, ideal for value-add renovations. With proximity to top-rated schools like Alki Elementary, this property is an excellent acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a beachside lifestyle.
Estimated Market Value
$982,307
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 |
|---|---|---|---|---|---|---|
★ 2706 56th Avenue SW Subject 2 bd · 1 ba · 1,770 sqft · $555 | $995,000* List Price | 2 | 1 | 1,770 | $555 | - |
A 4037 52nd Avenue SW Sold 3 bd · 2 ba · 1,650 sqft · $652 · 0.8 mi | $1,075,000 | 3 | 2 | 1,650 | $652 | 0.8 mi |
B 4007 49th Avenue SW Sold 2 bd · 1 ba · 1,520 sqft · $560 · 0.9 mi | $851,000 | 2 | 1 | 1,520 | $560 | 0.9 mi |
C 2313 47th Avenue SW Sold 2 bd · 2 ba · 1,450 sqft · $648 · 0.6 mi | $940,000 | 2 | 2 | 1,450 | $648 | 0.6 mi |
D 2159 52nd Avenue SW Sold 2 bd · 2 ba · 1,470 sqft · $514 · 0.4 mi | $755,000 | 2 | 2 | 1,470 | $514 | 0.4 mi |
E 4019 50th Avenue SW Sold 3 bd · 2 ba · 1,660 sqft · $608 · 0.8 mi | $1,010,000 | 3 | 2 | 1,660 | $608 | 0.8 mi |
F 3033 44th Avenue SW Sold 3 bd · 2 ba · 1,735 sqft · $660 · 0.7 mi | $1,145,000 | 3 | 2 | 1,735 | $660 | 0.7 mi |
G 4812 SW Stevens Street Sold 3 bd · 2 ba · 1,180 sqft · $712 · 0.5 mi | $840,000 | 3 | 2 | 1,180 | $712 | 0.5 mi |
H 3828 48th Avenue SW Pending 3 bd · 2 ba · 1,800 sqft · $472 · 0.8 mi | $850,000 List Price | 3 | 2 | 1,800 | $472 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Originally built in 1941, the home features older renovations likely dating back 15-30 years. The kitchen shows dated tile countertops, a scalloped window valance, and older appliances, while the bathroom has a dated color scheme and fixtures. The property is clean and functional but requires cosmetic updates to meet modern standards.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Beachside Location
Situated just one block from Alki Beach, this property offers unparalleled access to the waterfront, local dining, and shops, making it a highly desirable lifestyle destination.
- Timeless Architectural Appeal
The 1941 Cape Cod style home features classic hardwood floors, abundant natural light, and a cozy gas fireplace, blending vintage charm with a warm, inviting atmosphere.
- Versatile Living Space
With a spacious lower-level rec room and a private backyard patio surrounded by mature landscaping, the property provides excellent indoor-outdoor flow and flexible space for entertainment or storage.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1770, other record living area = 1260.
- Limited Bathroom Count
The home features only one bathroom, which may be a significant drawback for families or buyers looking for modern convenience at this price point.
- Modest Bedroom Capacity
With only two bedrooms, the property may not meet the needs of larger households or those requiring dedicated home office space without sacrificing a bedroom.
About 2706 56th Avenue SW
Timeless Cape Cod style home surrounded by lush, mature landscaping in an incredible Alki location. The main level features a cozy living room with gas fireplace, light-filled kitchen and dining area, two bedrooms and a full bath. Hardwood floors and abundant windows add warmth and natural light throughout. Downstairs, a spacious rec room offers flexible living space alongside a utility/laundry room, ample storage and direct access to the attached one-car garage. Outside, enjoy a private backyard retreat with a generous patio surrounded by established greenery. Best of all, you’re just one block from Alki Beach and moments from the neighborhood’s beloved shops, restaurants and waterfront. Enjoy the best of Alki right outside your door!
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1941
- Lot Size
- 5,302 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Seattle Unified Schools
Alki Elementary School
Grades PK-5 • 0.2 mi
8/10
Lafayette Elementary School
Grades PK-5 • 0.8 mi
8/10
Genesee Hill Elementary School
Grades K-5 • 0.9 mi
8/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 1,770 | 1,801.924 |
| Lot Size | 5,302 | 4,494.536 |
| Price | $995.0K | $974.4K |
| Price per sq ft | $562 | $569 |
| Built year | 1941 | 1948 |
| HOA | $0 | $78 |
| Days on market | 32 | 35 |
Pricing History
Listed for Sale
Sep 22, 2026
$995,000
Initial Listing