9500 Rainier Avenue S #312, Seattle, WA 98118, Seattle, 98118 - 2 bed, 2 bath
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9500 Rainier Avenue S #312
Seattle, WA 98118
CLOSED
CONDITION: GOOD
2Beds
2Baths
1,073Sq Ft
129,500Lot Size
Property Price
LIST PRICE$475,000
EST. MARKET VALUE
$456,067
4% AboveMARKET VALUE
SUMMARY
This Waterfront Condominium represents a Strong Value Opportunity, listed at $475,000—positioned well above the $456,067 Fair Market Value by 4%. While the list price reflects a premium, the property offers a Condition Rating of 3, featuring a modernized kitchen and move-in ready interiors. Residents enjoy a unique lifestyle with panoramic Lake Washington views, a private marina deck, and a swimming pool. Its proximity to the Seattle Light Rail ensures excellent transit access. This is an ideal acquisition for Owner-Occupants or Urban Professionals seeking a waterfront sanctuary.
Estimated Market Value
$456,067
Based on Realkey algorithm analyzing recent comparable sales in Seattle.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 9500 Rainier Avenue S #312 Subject 2 bd · 2 ba · 1,073 sqft · $425 | $461,000 | 2 | 2 | 1,073 | $425 | - |
A 4506 S Kenyon St Sold 2 bd · 2 ba · 1,088 sqft · $478 · 1.0 mi | $520,000 | 2 | 2 | 1,088 | $478 | 1.0 mi |
B 9323 Marcus Avenue S B Sold 3 bd · 2 ba · 1,099 sqft · $400 · 0.7 mi | $440,000 | 3 | 2 | 1,099 | $400 | 0.7 mi |
C 9321 Marcus Avenue S Sold 2 bd · 2 ba · 1,013 sqft · $474 · 0.7 mi | $480,000 | 2 | 2 | 1,013 | $474 | 0.7 mi |
D 9500 Rainier Avenue S 612 Sold 2 bd · 2 ba · 1,099 sqft · $482 | $530,000 | 2 | 2 | 1,099 | $482 | - |
E 9030 Seward Park Avenue S 202 Active 2 bd · 2 ba · 1,115 sqft · $403 · 0.1 mi | $449,000 List Price | 2 | 2 | 1,115 | $403 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
The property features a beautifully updated kitchen with modern stainless steel appliances, contemporary cabinetry, and updated countertops. While the building itself dates back to 1967 and some elements like the popcorn ceilings and wall heaters are older, the unit has updated laminate flooring, is well-maintained, and is completely move-in ready.
PROSSTRENGTHS & OPPORTUNITIES
- Waterfront Lifestyle
Situated on a unique over-water complex on Lake Washington, this unit offers desirable southeast exposure and stunning waterfront views that significantly enhance its market appeal.
- Transit & Walkability
The property boasts a highly accessible location within walking distance to the Seattle Light Rail, grocery stores, and restaurants, offering a convenient urban lifestyle for commuters.
- Updated Amenities
Features include a modernized kitchen and access to premium community facilities such as a newly updated swimming pool, marina deck, and secured parking.
CONSRISKS & DEFICIENCIES
- High Association Fees
The monthly association fee of $1,493 is notably high for this price point, which may impact buyer affordability and the overall carrying costs.
- Local School Ratings
The property is served by elementary and high schools with low performance ratings, which could be a drawback for families and potentially affect future resale value.
About 9500 Rainier Avenue S #312
Spinnaker Bay Condominium is a beautiful complex located in the city of Seattle, Washington. It is located on the Lake Washington side of the city of Seattle on an over-water complex built in 1968. The suburb township of Rainier Beach is within walking distance. The complex consists of 72 one & two bedroom units on six levels. Each condo unit includes a reserved parking lot space with a security gate accessible by condo owners. A newly updated swimming pool overlooking Lake Washington is on the complex for owners to enjoy. Spinnaker Bay has a community clubhouse and a outside marina deck for inside and outside gatherings. Spinnaker Bay Condominium location makes it easy walking distance to dozens of restaurants, fast food, grocery stores, pharmacies, and Seattle’s Light Rail to the airport and downtown Seattle. This home features South East exposure for abundant natural light and views. Kitchen has been updated.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1967
- Lot Size
- 129,500 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $1493 / Month
Neighborhood Insights
Seattle Unified Schools
Emerson Elementary School
Grades PK-5 • 0.5 mi
2/10
The New School At South Shore
Grades PK-8 • 0.5 mi
4/10
Aki Kurose Middle School
Grades 6-8 • 2.0 mi
5/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,073 | 1,048.033 |
| Lot Size | 129,500 | 1,930.425 |
| Price | $461.0K | $548.3K |
| Price per sq ft | $430 | $551 |
| Built year | 1967 | 1997 |
| HOA | $1493 | $317 |
| Days on market | 50 | 63 |
Pricing History
Listed for Sale
Sep 4, 2026
$475,000
Initial Listing