Active

Listed by: Inspire Realty

Price cut: $5K (3/17)

$640,000

547 S Sullivan Street, Seattle, WA 98108

3beds

2baths

1,250sqft

Est.:

Multi Family

Built in 1905

-- sqft lot

$-- Zestimate^®

$512/sqft

$-- HOA

What's special

Two detached cottagesPrivate double drivewayNew security gateNewer paint

INVESTOR & HOUSE-HACKER ALERT: LR3 Zoned Cash-Flow! Seize this rare opportunity to own a high-yield, well-maintained asset with a 6.5% Cap Rate and the last developable lot on a quiet, redeveloped dead-end street. This unique property features two detached cottages—a roomy 2-bed/1-bath front unit and a 1-bed/1-bath rear unit with a private double driveway and new security gate—offering maximum privacy with no shared walls. Generating $3,822/mo in total income, the asset includes a contractual 5% rent increase in May 2026. The 4,500 SF lot is zoned LR3, surrounded by beautiful new townhomes, providing a massive future development play. Seller is offering $15,000 in Buyer Incentives, perfect for a 2-1 interest rate buy-down to maximize your day-one cash flow. Updates include newer paint, flooring, appliances, and an effective year built of 2022. Easy access to transit and neighborhood amenities. Seller 1031 exchange—make an offer today!

205 days

461

17

Tour with a local agent

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 3
Bathrooms: 2

Heating

Wall Furnace, Electric, Natural Gas

Cooling

None

Features

Flooring: Vinyl, Vinyl Plank, Carpet
Has fireplace: No

Interior area

Total structure area: 1,250
Total interior livable area: 1,250 sqft

Property

Parking

Total spaces: 2
Parking features: Open
Uncovered spaces: 2

Features

Has view: Yes
View description: Territorial

Lot

Size: 4,499.75 Square Feet
Features: Curbs, Dead End Street, Paved, Secluded, Sidewalk, Fenced-Fully

Details

Parcel number: 7883600700
Zoning description: Jurisdiction: City
Special conditions: Standard

Construction

Type & style

Home type: MultiFamily
Architectural style: Duplex
Property subtype: Multi Family

Materials

Cement Planked, Cement Plank
Roof: Composition

Condition

Very Good
Year built: 1905
Major remodel year: 2022

Utilities & green energy

Sewer: Sewer Connected
Water: Public

Community & HOA

Community

Subdivision: South Park

Location

Region: Seattle

Financial & listing details

Price per square foot: $512/sqft
Tax assessed value: $439,000
Annual tax amount: $4,728
Date on market: 9/10/2025
Cumulative days on market: 207 days
Listing terms: Conventional

Estimated market value

Not available

Estimated sales range

Not available

Price history

Date	Event	Price
3/17/2026	Price change	$640,000-0.8%$512/sqft
Source: NWMLS as distributed by MLS GRID #2432506 Report a problem
2/10/2026	Price change	$645,000+1.7%$516/sqft
Source: NWMLS as distributed by MLS GRID #2432506 Report a problem
1/5/2026	Price change	$634,000-0.8%$507/sqft
Source: NWMLS as distributed by MLS GRID #2432506 Report a problem
12/17/2025	Price change	$639,000-0.9%$511/sqft
Source: NWMLS as distributed by MLS GRID #2432506 Report a problem
11/6/2025	Price change	$645,000-4.4%$516/sqft
Source: NWMLS as distributed by MLS GRID #2432506 Report a problem
10/24/2025	Price change	$675,000-1.5%$540/sqft
Source: NWMLS as distributed by MLS GRID #2432506 Report a problem
9/11/2025	Listed for sale	$685,000+9.6%$548/sqft
Source: NWMLS as distributed by MLS GRID #2432506 Report a problem
7/25/2022	Sold	$625,000+150%$500/sqft
Source: NWMLS as distributed by MLS GRID #1976001 Report a problem
3/24/2021	Listing removed	--
Source: Owner Report a problem
11/16/2017	Listing removed	$1,200$1/sqft
Source: Owner Report a problem
10/26/2017	Listed for rent	$1,200$1/sqft
Source: Owner Report a problem
3/8/2016	Sold	$250,000+58.7%$200/sqft
Source: Agent Provided Report a problem
1/23/2015	Sold	$157,500+250%$126/sqft
Source: NWMLS as distributed by MLS GRID #726177 Report a problem
12/24/2014	Listed for sale	$45,000-85.3%$36/sqft
Source: Miller Laine Properties #726177 Report a problem
8/16/2010	Sold	$305,726+11.4%$245/sqft
Source: Public Record Report a problem
11/16/2007	Sold	$274,500+85.5%$220/sqft
Source: NWMLS as distributed by MLS GRID #26114141 Report a problem
6/11/2003	Sold	$147,975+12.1%$118/sqft
Source: Public Record Report a problem
4/6/2000	Sold	$132,000+14.8%$106/sqft
Source: Public Record Report a problem
6/7/1999	Sold	$115,000$92/sqft
Source: Public Record Report a problem

Public tax history

Year	Property taxes	Tax assessment
2024	$4,728 +13%	$439,000 +9.2%
2023	$4,183 +6%	$402,000 -5%
2022	$3,946 +10.2%	$423,000 +20.5%
2021	$3,583 +4.9%	$351,000 +10.7%
2020	$3,414 +3.7%	$317,000 +2.3%
2019	$3,292 +8.3%	$310,000 -2.8%
2018	$3,041 +5.8%	$319,000 +21.8%
2017	$2,874 +29%	$262,000 +12.9%
2016	$2,228	$232,000 -1.3%
2015	$2,228	$235,000 +11.4%
2014	$2,228	$211,000
2013	$2,228	$211,000
2012	--	$211,000 +1.9%
2011	--	$207,000 +1.5%
2010	--	$204,000
2009	--	$204,000 +46.8%
2007	--	$139,000 +9.4%
2006	--	$127,000 +12.4%
2005	--	$113,000 -3.4%
2001	$1,444 +9.5%	$117,000 +14.7%
2000	$1,320	$102,000