3200 Alki Avenue SW #201, Seattle, WA 98116, Seattle, 98116 - 2 bed, 2 bath
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3200 Alki Avenue SW #201
Seattle, WA 98116
CLOSED
CONDITION: FAIR
2Beds
2Baths
955Sq Ft
4,500Lot Size
Property Price
LIST PRICE$495,000
EST. MARKET VALUE
$478,775
3% AboveMARKET VALUE
SUMMARY
This Coastal Condominium represents a Strong Value Opportunity, listed at $495,000—positioned well above the $478,775 Fair Market Value by -3%. While the property carries a Fair Condition Rating due to its 1984 vintage, it offers a premium lifestyle with panoramic Puget Sound views and a private balcony. The seller’s incentive to cover 12 months of HOA dues significantly offsets the $1,500 monthly fee. This is an ideal acquisition for Owner-Occupants seeking waterfront living or first-time buyers prioritizing location over immediate interior updates.
Estimated Market Value
$478,775
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 |
|---|---|---|---|---|---|---|
★ 3200 Alki Avenue SW #201 Subject 2 bd · 2 ba · 955 sqft · $501 | $450,000 | 2 | 2 | 955 | $501 | - |
A 3142 Alki Avenue SW 303 Sold 2 bd · 1 ba · 803 sqft · $666 · 0.0 mi | $535,000 | 2 | 1 | 803 | $666 | 0.0 mi |
B 3717 Beach Drive SW 303 Sold 2 bd · 2 ba · 1,080 sqft · $393 · 0.5 mi | $424,950 | 2 | 2 | 1,080 | $393 | 0.5 mi |
C 3200 Alki Avenue SW 301 Active 2 bd · 2 ba · 955 sqft · $586 · 0.0 mi | $559,950 List Price | 2 | 2 | 955 | $586 | 0.0 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 1984 (40 years old), the property falls into the 'Fair' category due to its age and dated interior. While it features brand new carpet and appears well-maintained, the kitchen cabinetry and fixtures are original or aged (>20 years), and the wood-burning fireplace and track lighting reflect older design standards that require updating.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Coastal Location
Situated directly across from Alki Beach and the historic lighthouse, the property offers an enviable lifestyle with immediate access to waterfront recreation, popular restaurants, and scenic walking paths.
- Scenic Views and Outdoor Amenities
The unit features a private balcony with Puget Sound views and access to a rooftop deck for panoramic sunsets, providing exceptional outdoor living space rarely found in boutique buildings.
- Significant Seller Incentive
The seller's agreement to pay the first 12 months of HOA dues provides a substantial financial benefit to the buyer, effectively reducing the first year's carrying costs by $18,000.
CONSRISKS & DEFICIENCIES
- High Monthly Association Fees
At $1,500 per month, the HOA dues are significantly higher than average for a sub-1,000 square foot unit, which may impact long-term affordability and future resale value.
- Dated Building Era
Built in 1984, the property may require ongoing maintenance or modern updates to systems and interiors to compete with newer luxury developments in the Alki area.
About 3200 Alki Avenue SW #201
Just across from West Seattle’s beloved Alki Beach & historic Alki Point Lighthouse, this beautifully situated two bedroom condo offers the perfect blend of comfort & quintessential coastal living. Located in a boutique building along a quiet street, the unit features a private balcony with Puget Sound & lighthouse views, brand new carpet throughout & generously bedrooms, including a spacious primary suite with an ensuite bathroom. The open kitchen offers abundant counter & cabinet space for the cooks, while the living area welcomes you with a cozy wood burning fireplace & direct access to the balcony. Enjoy your morning coffee while taking in the Sound breeze, or gather in the formal dining area with an adorable built in breakfast nook. The rooftop deck provides a spectacular setting for gatherings to barbecue, unwind & enjoy panoramic views of the Puget Sound & those unforgettable Seattle sunsets. Enjoy the convenience of a secured parking garage with a designated parking space & a private storage room. And when it’s time to get out and explore, Alki Beach is just down the road, along with some of West Seattle’s most popular restaurants, coffee & ice cream spots. This is a wonderful opportunity to enjoy the best of relaxed waterfront living in one of Seattle’s most sought-after neighborhoods. SELLER AGREES TO PAY THE HOA DUES FOR THE FIRST 12 MONTHS OF THE BUYER'S OWNERSHIP!
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1984
- Lot Size
- 4,500 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $1500 / Month
Neighborhood Insights
Seattle Unified Schools
Alki Elementary School
Grades PK-5 • 0.5 mi
8/10
Lafayette Elementary School
Grades PK-5 • 1.5 mi
8/10
Madison Middle School
Grades 6-8 • 1.3 mi
7/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 955 | 1,048.033 |
| Lot Size | 4,500 | 1,930.425 |
| Price | $450.0K | $548.3K |
| Price per sq ft | $471 | $551 |
| Built year | 1984 | 1997 |
| HOA | $1500 | $317 |
| Days on market | 36 | 63 |
Pricing History
Listed for Sale
Sep 18, 2026
$495,000
Initial Listing