
Seattle, WA 98116
This Versatile Waterfront Property is a High-Potential Investment Opportunity, listed at $1,475,000—positioned above the $1,426,180 Fair Market Value. While priced slightly above market, the L3 Multi-Zoning and dual-unit configuration provide exceptional utility for income generation. Featuring a Gourmet Chef’s Kitchen and a Fair Condition Rating, the home offers a unique Italian Villa aesthetic with protected Puget Sound views. This property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a flexible, income-producing residence in a prime Seattle location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 4030 Beach Drive SW Subject 3 bd · 5 ba · 2,070 sqft · $689 | $1,475,000* List Price | 3 | 5 | 2,070 | $689 | - |
A 4054 54th Avenue SW Active 4 bd · 3 ba · 2,290 sqft · $522 · 0.4 mi | $1,195,000 List Price | 4 | 3 | 2,290 | $522 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The home was originally built in 1918 with its last major renovation in 2000, making the updates 26 years old. While the kitchen and bathrooms feature high-end elements like a Viking range and custom sandstone tile that appear well-maintained, the overall style is dated to the turn of the century, fitting the 15-30 year renovation criteria for Fair condition.
Situated on Beach Drive with protected views across from Weather Watch Park, offering rare opportunities to view local wildlife and the Puget Sound from the front yard.
The L3 multi-zoning and dual-unit configuration provide exceptional versatility for use as a single-family residence, commercial space, or an income-generating rental property.
Features high-end Viking appliances, granite countertops, and a professional built-in pizza oven, catering to luxury culinary needs and high-end entertaining.
The opulent Italian Villa styling with marble, crystal, and gold flourishes is very niche and may not appeal to buyers seeking a contemporary or Pacific Northwest modern design.
With a lot size of only 3,373 square feet, private outdoor space is constrained, which may be a drawback for buyers prioritizing a large yard or garden.
Amazing waterfront-style property on Beach Drive, with protected views across the street from Weather Watch Park. View orca, sea lions, otters, seals, eagles from the front yard! Reminiscent of an Italian Villa, this opulent stone manse presents a once-in-a-lifetime opportunity for lavish living. Take advantage of multi-zoning, L3, Residential and Commercial. Set up to use as both an elegant single-family home or close interior doors and have two fully-contained units. Live on one floor and rent out the rest of the house for extra income. La Villa Rustica is a palatial residence w/marble floors & fireplace, overflowing with crystal chandeliers and golden flourishes. True chef’s kitchen w/ Viking gas range, refrigerator, microwave & dishwasher, classic cabinetry & granite counters, plus a built-in professional pizza oven. Main floor has office (or 3rd bedroom) w/bedroom suite with sandstone shower worthy of a Roman emperor. Upstairs can be a separate suite or an amazing primary suite with balcony and Puget Sound views. You'll love the elegant Roman fountain in front and the small patio with bar and room for a barbeque and entertaining in back. Original house built in 1918, with major updates by previous owner in 2000. Huge two-car garage+workshop, plus laundry and storage. Live in this grand home or use as a long or short-term rental or take advantage of the corner lot for future use. Protected views as across the street is beach access and a city park, Weather Watch Park.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 5.0 | 2.0 |
| Square foot | 2,070 | 1,801.924 |
| Lot Size | 3,373 | 4,494.536 |
| Price | $1.48M | $974.4K |
| Price per sq ft | $713 | $569 |
| Built year | 1918 | 1948 |
| HOA | $0 | $78 |
| Days on market | 30 | 35 |
Sep 24, 2026
$1,475,000
Initial Listing