9615 56th Avenue S, Seattle, WA 98118, Seattle, 98118 - 3 bed, 5 bath
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Seattle, WA 98118
This 1922 Craftsman represents a High-Potential Investment Opportunity, listed at $800,000—positioned well below the $830,548 Fair Market Value by 3%. This valuation gap offers $30,548 in Instant Equity. With a Condition Rating of 4, the property features significant system upgrades like solar panels and a new roof, while the 4,800-square-foot footprint provides massive value-add potential. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants looking to build equity through strategic basement and interior renovations.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 9615 56th Avenue S Subject | $800,000* List Price | 3 | 5 | 2,830 | $293 | - |
A 8722 Hamlet Ave S Pending | $995,000 List Price | 5 | 3 | 3,120 | $319 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
While the property boasts excellent recent system upgrades—including a 2017 roof, 2019 boiler, and 2022 solar panels—the 1922 interior remains dated. The main living areas require cosmetic modernization, and the basement is currently a 'blank canvas' requiring a full build-out. It is functional and livable but needs significant aesthetic updates to reach its full potential.
With a total footprint exceeding 4,800 square feet and a basement already plumbed for separate living units, this property offers massive equity-building potential and versatile usage options for rental income or multi-generational living.
The home features recent high-capital improvements including solar panels (2022), a new boiler (2019), a new roof (2017), and updated copper plumbing, significantly reducing immediate maintenance concerns for a buyer.
This 1922 Craftsman retains its historic charm with original hardwoods and a bright, window-wrapped sunroom, providing the 'great bones' and aesthetic appeal highly desired in the Seattle market.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2830, other record living area = 3820. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 5.
Despite the system updates, much of the home's square footage remains a 'blank canvas' with unfinished framing and kitchenettes, necessitating a significant additional investment of time and capital to complete.
The property is served by schools with low performance ratings, specifically the local high school and nearest elementary, which may limit appeal for families and impact future resale value.
This classic 1922 Craftsman in upper Rainier Beach has plenty of space, great bones, and major upside for a buyer with some vision. The primary finished residence spans 2,830 square feet, centered around an open living, dining, and kitchen area detailed with original hardwoods. Branching off this central hub, one side of the home features a powder room and convenient bedroom with a full en-suite bath, while the opposite side hosts a bright, window-wrapped flex room. Upstairs, new laminate flooring flows through 2 additional oversized bedrooms, a full bathroom, and a connected sunroom. Some heavy lifting on the big systems is already done: solar panels in 2022, a new boiler in 2019, a new roof in 2017, plus updated copper plumbing and double-pane windows throughout. What makes this property a unique opportunity is the sheer amount of extra space—bringing the total footprint under the roof to over 4,800 square feet. The basement features its own outside entrances, a full bath, and a 3/4 bath. It was previously configured into two separate living spaces, and remnants of old bedroom framing and two kitchenettes are still in place. It is a blank canvas with the plumbing and layout foundations already there to build out a home gym, workshop, or guest quarters. Above it all, a huge walk-up attic offers even more storage or room to expand. This is a premier opportunity to add custom updates to a historic home and build serious equity along the way. *some photos are virtually staged*
No exterior & parking available.
Grades PK-5 • 0.2 mi
Grades PK-5 • 0.8 mi
Grades PK-5 • 1.2 mi
No sensitive facilities data found.
Jul 15, 2026
$800,000
Initial Listing