4519 S Henderson Street, Seattle, WA 98118, Seattle, 98118 - 2 bed, 3 bath
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Seattle, WA 98118
Analysis of 4519 S Henderson Street, Seattle, WA 98118 is currently available with a list price of $1,100,000. The property maintains a Poor Condition Rating (30/100), indicating the property requires renovation and updates to maximize its market potential. This presents opportunities for value-add investors. Located in a high-demand neighborhood within the Seattle Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Property is extensive renovation needed.
The property is explicitly marketed as a 'Development Opportunity' with 'Value in Land,' and the analysis highlights the 'Obsolescence of Existing Structure.' Built in 1983 (41 years ago), the home has exceeded its typical economic life for the area's high-density zoning. While currently rented—which suggests it is not yet 'unlivable'—the focus on land value and the confirmed FAR ratios for redevelopment indicate that the kitchen, bathrooms, and major systems are likely outdated or in disrepair, requiring substantial rehabilitation or demolition to achieve the property's highest and best use.
Zoned LR3 + SM-RB 85 within a HALA opportunity zone, this 14,555 SF lot offers significant density potential with confirmed FAR ratios for multi-family construction.
Situated just one block from the Link light rail and bordering two main thoroughfares, the property provides exceptional accessibility and visibility for future residents.
The existing residential structure features a month-to-month tenant, providing steady rental income to offset carrying costs while the owner navigates the permitting process.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =1244, other record lot size in square feet = 14555. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1244, other record living area = 2460. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 2, other record bedroom count = 3.
The property is served by several low-rated schools, including a local high school with a rating of 2, which may impact the appeal for family-oriented end-users.
As the primary value lies in the land, the current 1983-built home represents a temporary use that will eventually require demolition costs to realize the site's highest and best use.
Value in Land. Development Opportunity in the heart of Rainier Beach. This parcel is zoned Multi Famil MHA LR3 + SM-RB 85 zoning in a HALA opportunity zone. City has confirmed FAR ratio in writing to possibly build one building at 2 max heights. Rent the existing home while you get permits. M2M tenant would like to stay. The 14,555 sf lot borders two main thoroughfares and can have access to the parcel from both. Downtown Seattle and Lake Washington are in view at 35ft up. This parcel sits a block away from the Link light rail, parks and and more. Here is your chance to be a part of the new Rainier Beach.
No exterior & parking available.
Grades PK-5 • 0.2 mi
Grades K-5 • 0.7 mi
Grades K-5 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 0% |
| Baths | - | - | 0% |
| Square foot | - | - | 0% |
| Lot Size | - | - | 0% |
| Price | - | - | 0% |
| Price per sq ft | - | - | 0% |
| Built year | 1983 | - | 0% |
| HOA | $0 | $0 | 0% |
| Days on market | - | - | 0% |
Mar 25, 2026
$1,100,000
Initial Listing