Value-add investment opportunity in the heart of Lake Burien. This value-add fourplex offers spacious living with large 2-bedroom/1-bathroom units, perfect and one generously sized 1-bedroom/1-bathroom unit. With the ability to raise rents 40-50% in a high demand market stabilizing at a 7.2% market cap rate. Two units meticulously upgraded to modern standards with the opportunity to renovate two other 2b/1b top floor units with vaulted ceilings. The exterior needs cosmetic upgrades. Situated just three blocks away from the vibrant Olde Town Burien, residents enjoy easy access to an array of amenities including restaurants, cafes, and stores. Easy access to major freeways downtown Seattle and Bellevue.
Sold
Listed by:
Justin Kraft,
Highmark Partners
Bought with: Berkshire Hathaway HS NW
$1,000,000
1111 SW 148th Street, Burien, WA 98166
--beds
--baths
3,564sqft
Multi Family
Built in 1973
-- sqft lot
$1,036,300 Zestimate®
$281/sqft
$2,420 Estimated rent
Home value
$1,036,300
$974,000 - $1.11M
$2,420/mo
Zestimate® history
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Zillow last checked: 7 hours ago
Listing updated: March 27, 2026 at 11:01am
Listed by:
Justin Kraft,
Highmark Partners
Bought with:
Gagan Deep, 126279
Berkshire Hathaway HS NW
Source: NWMLS as distributed by MLS GRID,MLS#: 2199625
Facts & features
Interior
Heating
- Baseboard, Electric
Cooling
- None
Features
- Flooring: Vinyl Plank
- Has fireplace: No
Interior area
- Total structure area: 3,564
- Total interior livable area: 3,564 sqft
Property
Parking
- Total spaces: 8
- Parking features: Open
- Uncovered spaces: 8
Lot
- Size: 7,618 sqft
Details
- Parcel number: 1900000014
- Zoning description: Residential,Jurisdiction: City
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Stucco
- Foundation: Slab
- Roof: Composition
Condition
- Fair
- Year built: 1973
- Major remodel year: 1995
Utilities & green energy
- Electric: Company: Seattle City Light
- Sewer: Sewer Connected, Company: Southwest sewer
- Water: Public, Company: Highline water
Community & neighborhood
Location
- Region: Burien
- Subdivision: Lake Burien
Other
Other facts
- Listing terms: Conventional
- Cumulative days on market: 6 days
Price history
| Date | Event | Price |
|---|---|---|
| 3/25/2024 | Sold | $1,000,000+2.6%$281/sqft |
Source:  NWMLS as distributed by MLS GRID #2199625 Report a problem | ||
| 2/20/2024 | Pending sale | $975,000$274/sqft |
Source: NWMLS as distributed by MLS GRID #2199625 Report a problem | ||
| 2/14/2024 | Listed for sale | $975,000+200%$274/sqft |
Source: NWMLS as distributed by MLS GRID #2199625 Report a problem | ||
| 9/5/2021 | Listing removed | -- |
Source: Zillow Rental Network Premium Report a problem | ||
| 8/25/2021 | Listed for rent | $995-28.7% |
Source: Zillow Rental Network Premium Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $9,409 -6.7% | $812,000 -3.4% |
| 2023 | $10,088 +2.2% | $841,000 -4.1% |
| 2022 | $9,873 -4.1% | $877,000 +8% |
Find assessor info on the county website
Neighborhood: Old Burien
Nearby schools
GreatSchools rating
- 3/10Seahurst Elementary SchoolGrades: PK-5Distance: 0.2 mi
- 2/10Glacier Middle SchoolGrades: 6-8Distance: 2.4 mi
- 2/10Highline High SchoolGrades: 9-12Distance: 0.9 mi
Schools provided by the listing agent
- Elementary: Seahurst Elem
- Middle: Sylvester Mid
- High: Highline High
Source: NWMLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Estimated market value
$1,036,300
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$1,036,300
- Washington
- King County
- Burien
- 98166
- Old Burien
- 1111 SW 148th Street