
Seattle, WA 98118
This property presents a High-Potential Investment Opportunity with a List Price of $399,950—positioned well below the $409,390 Fair Market Value by 2%. This valuation gap offers $9,440 in Instant Equity for developers. With a Condition Rating of 6 and a structure primed for removal, the parcel is a blank canvas for high-yield multi-family redevelopment. Featuring seamless alley access and proximity to Hawthorne Elementary, this is a strategic land acquisition ideal for Real Estate Developers or Contractors seeking a modern, high-density project.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 4163 38th Avenue S Subject | $399,950* List Price | 4 | 3 | 1,500 | $273 | - |
A 4563 33rd Avenue S Active | $499,000 List Price | 4 | 3 | 1,996 | $250 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1905 with no recorded renovations, the listing explicitly states the structure is 'primed for removal' to make way for new development. The property is sold as-is, boarded up, and shows significant exterior decay, indicating it is unlivable and holds land value only.
The property is specifically positioned for a modern multi-family redevelopment, featuring a layout designed for a primary residence plus a dual-ADU structure to maximize rental income.
The site includes seamless rear alley access with capacity for dual ground-floor garage bays, providing a significant advantage for parking logistics and tenant management.
Listed at $399,950 in the desirable Mt Baker neighborhood, this parcel represents an exceptionally low price point for the area, offering high upside for developers and investors.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 1.
The existing 1905 structure is primed for removal and sold strictly 'as-is,' requiring the buyer to factor in significant demolition and site preparation costs.
Realizing the property's full value requires extensive vision, contractors, and capital for a ground-up build, which may be a barrier for traditional residential buyers.
Prime parcel featuring an existing structure primed for removal, clearing the path for an upgraded, high-yield modern development project. Bring your contractors, developers, and vision to maximize this exceptional footprint. Sold AS-IS! High-Yield Configuration: Designed for a modern multi-family layout featuring a sleek primary residence paired with a built-out, attached dual-ADU structure complete with lower-level alley garages. Optimized Site Footprint: Maximizes space utilization across the parcel width, featuring private side setback walkways and seamless integration with existing topography and retaining the classic structures, architectural beauty, and more clean, contemporary charcoal siding, warm wood accents, and expansive window lines designed to capture natural light and maximize market appeal. Seamless Alley Access: Dual ground-floor garage bays opening directly onto the rear alley for straightforward parking and tenant vehicle management. Opportunity knocks!!! One of the great prices you can ever find in this convenient area.
No exterior & parking available.
Grades PK-5 • 0.1 mi
Grades K-8 • 0.8 mi
Grades 6-8 • 1.2 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.0 |
| Baths | 3.0 | 2.0 |
| Square foot | 1,500 | 1,803.474 |
| Lot Size | 4,080 | 4,544.116 |
| Price | $399.9K | $978.6K |
| Price per sq ft | $267 | $570 |
| Built year | 1905 | 1949 |
| HOA | $0 | $68 |
| Days on market | 40 | 36 |
Jul 31, 2026
$399,950
Initial Listing