New Price, $10,000 Buyer Bonus, Motivated Seller! Step into an exceptional income-producing property that blends comfortable living w/ cash flow. Current annual income is over $86,000 w/planned rent increase May 2026. This 2003 building is well-maintained, fully-fenced, & just minutes from the vibrant hubs of Georgetown & SoDo. It comprises of 3 units, 7 beds & 3 baths across 2,760 SF making it perfect for owner-occupant living while generating significant rental income. Main building hosts 2 spacious, identical 3-bedroom light-filled flats, updated finishes, & plus charming 1-bed cottage (DADU). This property ensures peace of mind w/ newer systems, ample off-street parking, & extra upside via redevelopment. Don’t wait to secure this one!
Sold
Listed by:
Autumn Allen,
Inspire Realty
Bought with: COMPASS
$985,000
551 S Sullivan Street, Seattle, WA 98108
7beds
3baths
2,760sqft
Multi Family
Built in 2003
-- sqft lot
$986,600 Zestimate®
$357/sqft
$2,538 Estimated rent
Home value
$986,600
$918,000 - $1.07M
$2,538/mo
Zestimate® history
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Zillow last checked: 7 hours ago
Listing updated: March 23, 2026 at 04:01am
Listed by:
Autumn Allen,
Inspire Realty
Bought with:
Robert Kurka, 21032763
COMPASS
Source: NWMLS as distributed by MLS GRID,MLS#: 2432505
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 7
- Bathrooms: 3
Heating
- Forced Air, Wall Furnace, Electric, Natural Gas
Cooling
- None
Features
- Flooring: Ceramic Tile, Vinyl, Vinyl Plank, Carpet
- Has fireplace: No
Interior area
- Total structure area: 2,760
- Total interior livable area: 2,760 sqft
Property
Parking
- Total spaces: 3
- Parking features: Open
- Uncovered spaces: 3
Features
- Has view: Yes
- View description: Territorial
Lot
- Size: 4,499 sqft
- Features: Adjacent to Public Land, Corner Lot, Curbs, Dead End Street, Paved, Secluded, Sidewalk, Fenced-Partially, High Speed Internet
Details
- Parcel number: 7883600710
- Zoning description: Jurisdiction: City
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Cement Planked, Cement Plank
- Roof: Composition
Condition
- Updated/Remodeled
- Year built: 2003
- Major remodel year: 2022
Utilities & green energy
- Sewer: Sewer Connected
- Water: Public
Community & neighborhood
Location
- Region: Seattle
- Subdivision: South Park
Other
Other facts
- Listing terms: Conventional,FHA,VA Loan
- Cumulative days on market: 124 days
Price history
| Date | Event | Price |
|---|---|---|
| 2/20/2026 | Sold | $985,000-0.3%$357/sqft |
Source:  NWMLS as distributed by MLS GRID #2432505 Report a problem | ||
| 1/9/2026 | Pending sale | $988,000$358/sqft |
Source: NWMLS as distributed by MLS GRID #2432505 Report a problem | ||
| 12/17/2025 | Price change | $988,000-1.1%$358/sqft |
Source: NWMLS as distributed by MLS GRID #2432505 Report a problem | ||
| 11/6/2025 | Price change | $998,900-8.4%$362/sqft |
Source: NWMLS as distributed by MLS GRID #2432505 Report a problem | ||
| 10/24/2025 | Price change | $1,090,000-0.9%$395/sqft |
Source: NWMLS as distributed by MLS GRID #2432505 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $7,478 +12.4% | $738,000 +9.3% |
| 2023 | $6,654 +6.2% | $675,000 -4.8% |
| 2022 | $6,268 +16.6% | $709,000 +28% |
Find assessor info on the county website
Neighborhood: South Park
Nearby schools
GreatSchools rating
- 1/10Concord Elementary SchoolGrades: PK-5Distance: 0.3 mi
- 5/10Denny Middle SchoolGrades: 6-8Distance: 1.9 mi
- 3/10Chief Sealth High SchoolGrades: 9-12Distance: 1.9 mi
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Estimated market value
$986,600
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
$986,600
- Washington
- King County
- Seattle
- 98108
- South Park
- 551 S Sullivan Street