
Seattle, WA 98118
This property presents a High-Potential Investment Opportunity with a List Price of $319,000—positioned well below the $329,786 Fair Market Value by 3%. This valuation gap offers $10,786 in Instant Equity. Featuring NC2-55 Zoning and a Condition Rating of 6, the value lies strictly in the land for mixed-use development. This is a strategic acquisition for Commercial Developers or Buy-and-Hold Investors seeking to leverage high-traffic corridor visibility and potential assemblage with the adjacent parcel.
Property is land value only, full reconstruction required.
Built in 1926 (>50 years old) with no evidence of renovations. The listing explicitly states 'VALUE IS IN THE LAND!' and is marketed for its development potential under NC2-55 zoning. No interior access is provided, indicating the structure is likely unlivable or obsolete.
The NC2-55 zoning with a 55-foot height limit provides significant upside for mixed-use, multifamily, or commercial development in a growing urban corridor.
Situated on the high-traffic Rainier Avenue corridor directly across from a major shopping center, the property offers exceptional visibility and accessibility for future tenants or businesses.
The availability of the adjacent side-by-side property allows developers to create a larger, more viable project footprint for maximum density and investment return.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 1, other record bedroom count = 2.
The existing 1926 structure adds no value and requires demolition, with no interior access permitted until after mutual acceptance, complicating initial due diligence.
The individual lot size of 2,580 sqft is relatively small, which may limit development feasibility unless purchased in conjunction with the neighboring parcel.
Exceptional opportunity to acquire two side-by-side properties at 3857 and 3859 Rainier Avenue S, situated along Seattle's highly traveled Rainier Avenue corridor. Zoned NC2-55 (Neighborhood Commercial 2) with a 55-foot height limit, these properties offer outstanding potential for mixed-use commercial and residential development, No plans or survey available VALUE IS IN THE LAND! High traffic volume, excellent street visibility, a major shopping center directly across the street provide an attractive setting for investors, builders, and developers. The established retail presence, surrounding businesses, and convenient access to public transportation Mixed-Use Flexibility: Potential uses include multifamily residential apartments, live-work units, retail spaces, offices, and restaurants, subject to City of Seattle zoning regulations and approvals Strategically located with convenient access to downtown Seattle, Renton, and Tukwila, this established urban corridor offers excellent connectivity to surrounding residential neighborhoods, shopping, dining, and business districts PROPERTY ACCESS: Access to the property grounds is available by appointment. No interior access to existing buildings until after mutual acceptance Buyer to verify zoning, permitted uses, height restrictions, density, property conditions, and development feasibility with the City of Seattle Also listed as Vacant Land. Adjacent property at 3857 Rainier Avenue S, MLS #2589602
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 1.0 | 3.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 560 | 1,801.924 |
| Lot Size | 2,580 | 4,494.536 |
| Price | $319.0K | $974.4K |
| Price per sq ft | $570 | $569 |
| Built year | 1926 | 1948 |
| HOA | $0 | $78 |
| Days on market | 9 | 35 |
Oct 15, 2026
$319,000
Initial Listing