5603 SW Lander Street, Seattle, WA 98116, Seattle, 98116 - 2 bed, 1 bath
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Seattle, WA 98116
This property presents a High-Potential Investment Opportunity with a List Price of $849,950—positioned well below the $803,109 Fair Market Value by -5%. While the property requires significant capital expenditure due to its Condition Rating of 6, the NR3-zoned corner lot offers substantial redevelopment potential near Alki Beach. With proximity to 8-rated schools like Alki Elementary, this asset is a strategic acquisition for Real Estate Developers or Experienced Contractors seeking to maximize land value through renovation or future site planning.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5603 SW Lander Street Subject | $799,950* List Price | 2 | 1 | 940 | $858 | - |
A 2715 50th Avenue SW Active | $749,000 List Price | 2 | 1 | 694 | $1,079 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1949 (>50 years old) and described as 'largely original throughout' with no significant renovations. The listing explicitly targets builders and developers for redevelopment, highlighting the land value and corner lot. Physical signs of neglect include a moss-covered roof, peeling exterior siding, and dated baseboard heating and kitchen fixtures.
Situated just two blocks from Alki Beach, this property offers exceptional access to waterfront dining, recreation, and the highly-rated Alki Elementary School in one of Seattle's most coveted neighborhoods.
The 5,070 SF level corner lot with NR3 zoning provides a rare and versatile canvas for builders, developers, or investors to create a custom luxury home or a high-value redevelopment project.
The 63' x 80' corner lot layout offers superior architectural flexibility, increased natural light, and enhanced curb appeal compared to standard mid-block parcels.
The property shares both a driveway and a sewer line with the neighboring residence, which may complicate future development plans or require formal maintenance agreements.
A large tree at the rear of the property and the 'as-is' condition of the original 1949 structure present potential hurdles for site planning, permitting, and immediate occupancy.
Rare opportunity to own a prime corner lot in one of West Seattle's most sought-after neighborhoods. Located just two blocks from Alki Beach, this 5,070 SF NR3-zoned property offers a unique opportunity for builders, investors, developers, or buyers looking to renovate and create their dream beach-area home. The existing 940 SF home features 2 bedrooms and 1 bathroom and is largely original throughout, making it an ideal candidate for a major renovation or redevelopment project. Tax records indicate the home was built in 1949 and sits on a level 63' x 80' corner lot. The location is hard to beat. Enjoy easy access to Alki Beach, waterfront restaurants, coffee shops, Alki Elementary School, Alki Playground, and all the amenities that make this one of Seattle's most desirable neighborhoods. Whether you're looking for a project home, long-term investment, or future development site, opportunities like this rarely come available. The NR3 zoning and corner lot configuration may provide attractive redevelopment potential, subject to buyer verification and City of Seattle approval. Property is being sold as-is. Buyers should be aware that a large tree toward the rear of the property may impact future site planning and development options. Property also shares a driveway and sewer line with the neighboring property to the west. Buyer to verify all information, zoning regulations, development potential, and feasibility to their own satisfaction.
No exterior & parking available.
Grades PK-5 • 0.2 mi
Grades PK-5 • 0.8 mi
Grades 6-8 • 0.8 mi
No sensitive facilities data found.
Jul 8, 2026
$799,950
$849,950
-6% Price Drop
Initial Listing
Jun 12, 2026
$849,950
Initial Listing