
Seattle, WA 98116
This High-Potential Investment Opportunity is listed at a List Price of $1,520,000, positioned well below the $1,533,804 Fair Market Value by 0.9%. This valuation gap offers $13,804 in Instant Equity. Featuring a Condition Rating of 4, the property offers significant upside for cosmetic modernization. With panoramic Puget Sound views, deeded beach access, and a flexible layout, this is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a waterfront lifestyle with long-term appreciation potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3089 Alki Avenue SW #2 Subject 3 bd · 3 ba · 2,340 sqft · $655 | $1,520,000* List Price | 3 | 3 | 2,340 | $655 | - |
A 4163 Beach Drive SW 102 Active 2 bd · 3 ba · 1,935 sqft · $698 · 0.9 mi | $1,350,000 List Price | 2 | 3 | 1,935 | $698 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1983, the property is over 40 years old and retains a dated interior. While the building exterior and roof have been recently updated, the kitchen and bathrooms feature older laminate cabinetry and appliances that require cosmetic modernization. The home is well-maintained but lacks recent interior renovations.
Situated directly on the water in Alki, this residence offers rare deeded beach access and breathtaking views of the Sound and mountains, providing a unique 'cruise ship' living experience.
As one of only two units in the building, this 2,340-square-foot home offers the privacy of a single-family residence with the convenience of a condo, including a private garage and a dedicated workshop.
The two-story floor plan features a spacious primary suite on the lower level and a dedicated office or third bedroom on the upper level, ideal for work-from-home needs or guest privacy.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =8625, other record lot size in square feet = 8829.
The property is noted to have 'character' and room for updates, indicating that the interior finishes are likely dated and will require additional capital investment to meet modern luxury standards.
Built in 1983, the property’s age combined with its direct exposure to the saltwater environment may lead to higher long-term maintenance requirements compared to newer waterfront constructions.
One of only two residences in this Alki waterfront condominium, this two-level home offers three bedrooms plus a den, sound views, and a flexible layout. It is truly on the water, and living here feels a little like being on a cruise ship. The bright upper level brings together open living, kitchen, and dining space, large windows, and a private balcony overlooking the water. The third bedroom, an office, and a bath are up here too, so guests or a work-from-home setup get their own corner. Downstairs, the spacious primary suite right on the walk includes a walk-in closet and private bath with a jetted soaking tub, plus a second bedroom and second bath. Tons of amenities include a private garage parking spot, abundant large storage unit adds room for gear, projects, and everything else that piles up, deeded beach access, workshop, club house, roof top deck and more. Recent building updates include a newer roof and fresh exterior paint. The home itself has real character and room for a new owner to update it their way.
No exterior & parking available.
Grades PK-5 • 0.5 mi
Grades PK-5 • 1.5 mi
Grades 6-8 • 1.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 2.0 |
| Baths | 3.0 | 2.0 |
| Square foot | 2,340 | 1,048.033 |
| Lot Size | 8,625 | 1,930.425 |
| Price | $1.52M | $548.3K |
| Price per sq ft | $650 | $551 |
| Built year | 1983 | 1997 |
| HOA | $500 | $317 |
| Days on market | 23 | 63 |
Oct 1, 2026
$1,520,000
Initial Listing