521 5th Avenue W 401, Seattle, WA 98119, Seattle, 98119 - 2 bed, 2 bath
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Seattle, WA 98119
This Lower Queen Anne Condominium represents a Strong Value Opportunity, listed at $520,000—positioned slightly above the $518,379 Fair Market Value. While the unit maintains a Condition Rating of 4, its Iconic Panoramic Views of Elliott Bay and the Space Needle provide significant long-term appeal. With no rental caps and a pet-friendly policy, the property offers high utility for Buy-and-Hold Investors or Owner-Occupants seeking a prime urban location. Cosmetic modernization will further enhance this asset's marketability in a high-demand neighborhood.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 521 5th Avenue W 401 Subject | $515,000* List Price | 2 | 2 | 1,019 | $505 | - |
A 500 Olympic Place 304 Pending | $505,000 List Price | 2 | 2 | 1,000 | $505 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
While the kitchen has been partially updated with a high-end range and hood, the overall unit is dated. Built in 1963, the property retains older electric baseboard heaters, louvered closet doors, and standard carpeting that appear to be over 20 years old. The home is functional and livable but requires cosmetic modernization to bathrooms and flooring to move beyond a dated status.
As a rare corner unit, the property boasts exceptional southwesterly views of Elliott Bay and the Olympic Mountains, complemented by direct, framed views of the Space Needle from both bedrooms.
The absence of a rental cap combined with a pet-friendly policy makes this a highly versatile asset for both primary residents and long-term investors in a high-demand neighborhood.
Situated in the heart of Lower Queen Anne, the home offers unparalleled access to major employment hubs like South Lake Union, the Mercer corridor, and Downtown Seattle.
The association fee of $898 per month is relatively high for the price point, which may impact the overall affordability and debt-to-income ratios for some buyers.
Constructed in 1963, the building may lack the modern energy efficiency standards and contemporary amenities found in newer luxury condominium developments.
Rare corner-unit view condo in the heart of Lower Queen Anne with sweeping southwesterly views of Elliott Bay, Alki, the Olympic Mountains, and unforgettable sunsets. This spacious 2-bed, 2-bath home offers abundant natural light, an open and inviting layout, and iconic Space Needle views framed from both bedrooms. The updated kitchen features a high-end electric range, chef-style vent hood, and opens to generous living and dining spaces ideal for everyday living or entertaining. Step out to the serene covered view deck—perfect for soaking in city and Sound views—with an additional storage closet for convenience. The primary suite includes an ensuite bath, ample closet space, and a front-row view of Seattle’s most iconic landmark. Pet-friendly Harbor House offers two elevators, gated garage parking, extra storage, and no rental cap with a 1-year minimum lease and tenant screening. Ideally located with easy access to downtown, SLU, and the Mercer corridor, this is a rare opportunity to own in one of Seattle’s most desirable neighborhoods.
No exterior & parking available.
Grades K-5 • 0.8 mi
Grades K-5 • 1.2 mi
Grades 6-8 • 0.9 mi
No sensitive facilities data found.
Jul 12, 2026
$515,000
$520,000
-1% Price Drop
Initial Listing
Jun 25, 2026
$520,000
Initial Listing