9500 Rainier Avenue S 311, Seattle, WA 98118, Seattle, 98118 - 2 bed, 2 bath
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Seattle, WA 98118
This waterfront condominium represents a High-Potential Investment Opportunity, listed at a List Price of $475,000—positioned well above the $375,693 Fair Market Value by -26%. While the property commands a premium for its unparalleled panoramic waterfront views and end-unit privacy, the Fair Condition Rating (4/10) indicates a need for cosmetic modernization. With high monthly HOA fees and lower-rated local schools, this asset requires a strategic approach to long-term value. It is best suited for Buy-and-Hold Investors or Owner-Occupants prioritizing a lakeside lifestyle over immediate equity gains.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 9500 Rainier Avenue S 311 Subject | $475,000* List Price | 2 | 2 | 1,096 | $343 | - |
A 9030 Seward Park Avenue S 513 Active | $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.
Built in 1967, the unit shows signs of partial updates such as laminate flooring, but remains dated overall. The bathroom vanity and fixtures appear to be 20+ years old, and the presence of popcorn ceilings and older cabinetry suggests the interior requires cosmetic modernization to meet current standards.
As a rare end unit on Lake Washington, this property offers exceptional waterfront and mountain views, providing a premium 'vacation-at-home' lifestyle at one of Seattle's most competitive price points for waterfront real estate.
The end-unit configuration ensures increased privacy and superior natural light compared to interior units, significantly enhancing the living experience and aesthetic appeal of the 1,096-square-foot space.
Recent HOA capital improvements to the Spinnaker Bay community provide peace of mind regarding the building's structural integrity and financial health, making it a more secure long-term investment for buyers.
The monthly association fee of $1,493 is notably high relative to the listing price, which may impact buyer affordability and debt-to-income ratios during the financing process.
The property is served by local elementary and high schools with low performance ratings (2/10), which could be a deterrent for families and potentially affect future resale value.
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.
Jul 10, 2026
$475,000
Initial Listing