9500 Rainier Avenue S #507, Seattle, WA 98118, Seattle, 98118 - 2 bed, 1 bath
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This Waterfront Condominium represents a High-Potential Investment Opportunity, listed at $360,000—positioned well below the $347,177 Fair Market Value by -3%. While the property is in Fair/Dated Condition, it offers breathtaking, unobstructed panoramic views of Lake Washington and the marina. The unit features a private balcony, pool access, and an efficient layout. Despite high HOA dues and lower-rated local schools, the property provides a rare, affordable entry point into Seattle’s waterfront market. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a lifestyle-focused residence.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 9500 Rainier Avenue S #507 Subject 2 bd · 1 ba · 893 sqft · $389 | $360,000* List Price | 2 | 1 | 893 | $389 | - |
A 4525 S Henderson Street #302 Active 2 bd · 1 ba · 850 sqft · $362 · 0.7 mi | $308,000 List Price | 2 | 1 | 850 | $362 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1967 (57 years old), the property exceeds the 20-year threshold for dated status. While the interior has been 'refreshed' with cosmetic updates like new lighting and faucets, the lack of a comprehensive kitchen, bath, or major system renovation within the last 15 years classifies it as Fair/Dated.
The property offers breathtaking, unobstructed panoramic views of Lake Washington and the marina from the living spaces, bedrooms, and private balcony, providing a premium waterfront experience.
Listed at $360,000 for a two-bedroom unit, this condo represents a highly affordable entry point for true lakefront living in Seattle compared to regional averages.
The community features desirable lifestyle perks including a swimming pool, direct marina access, and a private balcony, creating a relaxed, vacation-like atmosphere just minutes from downtown.
The association fee of $937 per month is notably high relative to the listing price, which may impact buyer affordability and overall monthly carrying costs.
The assigned elementary and high schools both carry a rating of 2/10, which could be a significant drawback for families and may affect long-term property appreciation.
Wake up to breathtaking, unobstructed views of Lake Washington in this beautifully refreshed waterfront condo offering true lakefront living in Seattle. This light-filled residence features expansive water and marina views enjoyed from the living space, bedrooms, and private balcony creating a serene backdrop for everyday living. Watch boats glide by, enjoy peaceful mornings, and unwind with stunning sunsets from the comfort of your home. The thoughtfully updated interior includes new lighting and modern faucets, enhancing the clean, contemporary feel. With 893 square feet, this home is perfectly sized and efficiently laid out with two bedrooms, one bathroom, plus a bonus vanity area. Ideal for added functionality and storage. Large windows throughout the home fill the space with natural light and highlight the ever-changing waterfront scenery. The well-maintained waterfront community offers desirable amenities including a pool, waterfront setting, and nearby marina access, delivering a relaxed, resort-like lifestyle just minutes from downtown Seattle. The unit includes one off-street designated parking space. Affordable HOA dues include water, sewer, and garbage, providing exceptional value for waterfront condo living. Enjoy easy access to I-5 and I-90 for commuting and travel throughout the region. A rare opportunity to own a true Lake Washington waterfront condo combining lifestyle, location, and low-maintenance living in one of Seattle’s most sought-after settings.
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 | 1.0 | 2.0 |
| Square foot | 893 | 1,048.033 |
| Lot Size | - | 1,930.425 |
| Price | $360.0K | $548.3K |
| Price per sq ft | $403 | $551 |
| Built year | 1967 | 1997 |
| HOA | $937 | $317 |
| Days on market | 191 | 63 |
Apr 16, 2026
$360,000
Initial Listing