1056 S Sullivan Street, Seattle, WA 98108
- $900,000
- 2,040
- SqFt
Listing courtesy of Lake & Company.
- List Price
- $900,000
- Status
- ACTIVE
- MLS#
- 2524678
- Days on Market
- 72
- Style
- 54 - 4-Plex
- Building Condition
- Average
- Finished SqFt
- 2,040
- Area Total SqFt
- 2040
- Annual Tax Ammount
- 7215
- Lot Size (sq ft)
- 6,000
- Sewer
- Available
Property Description
Classic craftsman meets 4 plex and a 3 car garage! Income property or redevelopment property....you choose. 4 units of 500 sq ft . 1 bed 1bath. Zoned RSL(M) Turn-Key Investment with Excellent Cash Flow. 2 units STR and 2 LTR. This historic 1901 Craftsman offers a rare, turn-key opportunity for savvy investors in the heart of Seattle’s South Park neighborhood. Well maintained and boasting a strong tenant history, this property is designed for immediate cash flow and long-term value. : Approximately 2,600 sq. ft. of interior space across a well-designed 4-unit layout. Craftsman charm with convenient location, featuring wood exterior finishes and a durable composition roof. Ample Parking: Rare for the area, this property includes 6 total parking spaces (3 covered and 3 uncovered). Currently cash-flowing with an excellent track record of high occupancy. Corner Lot Appeal: The property sits on a 6,000 sq. ft. corner lot with alley access, offering extra privacy.
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Additional Information
- List Date
- 2026-05-15 16:28:16
- Community
- South Park
- Net Operating Income
- $57,472
- Gross Adjusted Income
- $70,200
- Gross Scheduled Income
- $78,000
- Total Monthly Income
- $6,500
- Insurance Expenses
- $2,976
- Water/Sewer/Garbage Expenses
- $3,325
- Gross Rent Multiplier
- 11.5
- Total Expenses
- $19,943
- Cap Rate
- 6
- Vacancy Rate
- 10
- Total Number of Units
- 4
- Unit Name
- 1056
- Potential Terms
- Cash, Conventional
- Year Built
- 1901
- View
- Territorial
- Roof
- Composition
- Site Features
- Cable TV, Gas Available, High Speed Internet
- Electric Expenses
- 2075
- Other Expenses
- 1600
- Energy Source
- Electric, Oil
- School District
- Seattle
- Elementary School
- Concord
- Middle School
- Denny Mid
- High School
- Cleveland High
- Total Monthly Income
- $6,500
- Gross Scheduled Income
- $78,000
- Vacancy Rate
- 10
- Gross Adjusted Income
- $70,200
- Tax Year
- 2025
- Insurance Expense
- $2,976
- W/S/G Expenses
- $3,325
- Total Expenses
- $19,943
- Net Operating Income
- $57,472
- Gross Rent Multiplier
- 11.5
- Cap Rate
- 6
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.