4114 37th Avenue S, Seattle, WA 98118, Seattle, 98118 - 3 bed, 2 bath
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4114 37th Avenue S
Seattle, WA 98118
ACTIVE
CONDITION: TEAR DOWN
3Beds
2Baths
1,270Sq Ft
4,590Lot Size
Property Price
LIST PRICE$949,000
EST. MARKET VALUE
$959,710
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $949,000—positioned well below the $959,711 Fair Market Value by 1%. Featuring LR3 (M) Zoning and approved permits for four 3-bedroom townhomes, this Condition Rating 6 asset offers significant development upside. With mountain views and a prime location near light rail and transit, this project is designed for scale. It is an ideal acquisition for Multi-Family Developers or Savvy Investors ready to capitalize on Seattle’s high-demand housing market.
Estimated Market Value
$959,710
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 |
|---|---|---|---|---|---|---|
★ 4114 37th Avenue S Subject | $949,000* List Price | 3 | 2 | 1,270 | $756 | - |
A 3226 S Edmunds Street Active | $1,200,000 List Price | 4 | 2 | 1,760 | $682 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Tear down
TeardownExcellent
Property is land value only, full reconstruction required.
The property was built in 1908 (116 years old) with no evidence of recent renovations. The listing explicitly states it is being sold 'as-is' with the primary value in the land for a 4-unit townhome development opportunity, meeting the criteria for a tear-down.
PROSSTRENGTHS & OPPORTUNITIES
- Development Ready
The property features LR3 (M) zoning with approved permits for four townhomes, significantly reducing architectural lead times and planning delays for builders.
- Prime Transit Location
Situated in a highly walkable area with rapid access to the light rail and major transit routes, making it an ideal location for commuters heading to downtown Seattle.
- Value-Add Features
The proposed development includes high-demand amenities such as mountain views, rooftop decks, and dedicated parking for all four 3-bedroom units.
CONSRISKS & DEFICIENCIES
- As-Is Condition
The existing 1908 structure is sold in as-is condition with primary value in the land, necessitating demolition and site clearing costs.
- Investment Complexity
The high list price reflects the land's development potential, requiring a buyer with the immediate capital and expertise to execute a multi-family construction project.
About 4114 37th Avenue S
Exceptional LR3 (M) Development Opportunity in Seattle! Incredible investment or builder package featuring prime multi-family zoning and approved permits for 4 stunning townhomes. All the heavy lifting with the city is underway, saving you months of architectural and planning delays. Bring your crew and capitalize on Seattle's high-demand housing market immediately! The level parcel currently features a charming home 1908, that is being sold as-is, with primary value in the land and development potential. Situated in a highly walkable, commuter-friendly neighborhood with rapid access to the light rail, Columbia City dining, local parks, and major transit routes straight into downtown Seattle. Buyer to verify all details to their own satisfaction. Truly a turn-key opportunity for a builder or savvy investor! (Also cross-listed as Vacant Land) All Townhomes are 3 bd, 2.5 bath and with Parking and rooftop deck Unit 1A 1780 sq Unit 1B 1543 sq Unit 2A 1621 sq Unit 2B 1701 sq
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1908
- Lot Size
- 4,590 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Seattle Unified Schools
Hawthorne Elementary School
Grades PK-5 • 0.1 mi
5/10
Orca (Columbia)
Grades K-8 • 0.9 mi
5/10
Mercer Middle School
Grades 6-8 • 1.2 mi
8/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,270 | 1,803.474 |
| Lot Size | 4,590 | 4,544.116 |
| Price | $949.0K | $978.6K |
| Price per sq ft | $747 | $570 |
| Built year | 1908 | 1949 |
| HOA | $0 | $68 |
| Days on market | 23 | 36 |
Pricing History
Listed for Sale
Aug 17, 2026
$949,000
Initial Listing