4563 33rd Avenue S, Seattle, WA 98118, Seattle, 98118 - 4 bed, 3 bath
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This property presents a Strong Value Opportunity with a List Price of $485,000—positioned well below the $456,068 Fair Market Value by -6%. As a Shovel-Ready Development Asset, the sale includes approved permits, surveys, and geo reports for a 3-bedroom home with a basement ADU. With a Condition Rating of 6, the existing structure is unlivable, making this a pure land-value play. This is an ideal acquisition for Real Estate Developers or Contractors seeking to bypass the Seattle permitting process.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 4563 33rd Avenue S Subject 4 bd · 3 ba · 1,460 sqft · $312 | $485,000* List Price | 4 | 3 | 1,460 | $312 | - |
A 4163 38th Avenue S Pending 4 bd · 3 ba · 1,500 sqft · $267 · 0.4 mi | $399,950 List Price | 4 | 3 | 1,500 | $267 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1907 and currently boarded up with no interior access; the property is being sold as a development site with approved permits for a new build, indicating the existing structure is unlivable and holds land value only.
The property includes a hard-to-obtain City of Seattle permit, approved plans, survey, and geo report, saving the buyer significant time and administrative costs associated with the permitting process.
Approved plans feature a 3-bedroom main residence plus a separate basement ADU (Accessory Dwelling Unit), providing an excellent opportunity for rental income or multi-generational living.
Situated in a highly desirable and walkable Seattle neighborhood, the property is close to local amenities and quality education, including the highly-rated Mercer Middle School.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
The property is currently boarded up with no interior access allowed until mutual acceptance, which increases risk and complicates the initial due diligence process for buyers.
With over 130 days on the market, the listing may face challenges regarding buyer perception or pricing alignment within the current development climate.
CITY OF SEATTLE PERMIT - IN HAND! Seller has worked very hard to get this permit and is ready to hand the project off to someone who is ready to build in Seattle. (PERMIT #6923845-CN). Approved Plans, Survey Done, Geo Report done. Seller will pass along all to new Buyer. Don't start from scratch on a new project without checking out this one first! No interior access on this one as it's boarded up. Interior Access with Seller upon Mutual Acceptance. Approved Plans call for 2 Story 1340 sqft 3 Bedroom, 2.5 Bathroom Home and an Attached Basement ADU with 1 Bedroom, 1 Bathroom, Kitchen, Living and Den. Call us for any questions.
No exterior & parking available.
Grades PK-5 • 0.5 mi
Grades K-5 • 0.7 mi
Grades K-5 • 0.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.0 |
| Baths | 3.0 | 2.0 |
| Square foot | 1,460 | 1,801.924 |
| Lot Size | 3,000 | 4,494.536 |
| Price | $485.0K | $974.4K |
| Price per sq ft | $332 | $569 |
| Built year | 1907 | 1948 |
| HOA | $0 | $78 |
| Days on market | 162 | 35 |
May 15, 2026
$485,000
Initial Listing