9500 Rainier Avenue S #311, Seattle, WA 98118, Seattle, 98118 - 2 bed, 2 bath
Loading property details...
This waterfront condominium presents a High-Potential Investment Opportunity, listed at a List Price of $475,000—positioned well above the $359,259 Fair Market Value by -32%. While the unit offers unparalleled waterfront views and a refreshing summer pool, the Fair Condition Rating and high $1,493 monthly HOA fee necessitate a prudent financial approach. Given the low-rated local schools, this asset is best suited for Buy-and-Hold Investors or Owner-Occupants prioritizing a serene, lakeside lifestyle over immediate school-district appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 9500 Rainier Avenue S #311 Subject 2 bd · 2 ba · 1,096 sqft · $328 | $475,000* List Price | 2 | 2 | 1,096 | $328 | - |
A 9030 Seward Park Avenue S 513 Active 2 bd · 2 ba · 1,288 sqft · $372 · 0.1 mi | $479,000 List Price | 2 | 2 | 1,288 | $372 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property was built in 1967 (59 years old) and the listing lacks any mention of interior renovations to the kitchen or bathrooms, suggesting the unit is dated. While recent HOA upgrades to the building exterior and common areas provide structural security, the individual unit likely requires cosmetic updates and system modernizations consistent with a 'Fair' rating for its age.
As a sought-after end unit in Spinnaker Bay, the property offers unparalleled views of Lake Washington and the mountains, providing a rare vacation-like atmosphere within the city.
Positioned as one of Seattle's most affordable waterfront condominiums, this 2-bedroom, 2-bathroom unit offers a competitive entry point for lakeside living.
Residents benefit from a secure gated environment, dedicated parking, a summer pool, and recent HOA upgrades that enhance the long-term stability of the investment.
The association fee of $1,493 per month is significantly high relative to the listing price, which may impact buyer affordability and overall debt-to-income ratios.
The property is served by local elementary and high schools with low ratings (2/10), which could be a deterrent for families and potentially affect future appreciation.
Sought-after end unit at Spinnaker Bay, Seattle's most affordable waterfront condominium. Live on Lake Washington with unparalleled views & discover this exclusive End Unit that will captivate your senses & immerse you in natural beauty. Experience the tranquility of vacation living every single day, right at home. This fantastic condo community offers a secure, warm & welcoming atmosphere, perfect for those looking to embrace the ultimate lakeside lifestyle. Recent HOA upgrades to Spinnaker Bay ensure a sound & secure investment. Enjoy dedicated parking, gated access, & a refreshing summer pool. Embrace the serenity & security of living at Spinnaker Bay, where every day feels like a getaway year round!
No exterior & parking available.
Grades PK-5 • 0.5 mi
Grades PK-8 • 0.5 mi
Grades 6-8 • 2.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,096 | 1,048.033 |
| Lot Size | - | 1,930.425 |
| Price | $475.0K | $548.3K |
| Price per sq ft | $433 | $551 |
| Built year | 1967 | 1997 |
| HOA | $1493 | $317 |
| Days on market | 106 | 63 |
Jul 10, 2026
$475,000
Initial Listing