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$3,950,000
2569544 MLS ⋅ ACTIVE Status
A garden style 17-unit community located ±2 miles from Downtown Burien and ±7 miles from Downtown Seattle. Immediate access to the RapidRide H Line connecting to Downtown Seattle and shopping, dining, and grocery. The property spans 5 buildings constructed between 1954-1979 (most units 1979) on a single parcel. Mostly 2-bed units (5 with extra 1/2 baths) plus a studio, 2 one-beds, and 2 three-beds with either 1.5 or 2 baths. 8 units have in-unit laundry, several have townhome layouts, and most have private yards. Units average 896 SF. Off-street parking lot. Average tenant tenure is 7+ years even after a 25% gross rent increase. Value-Add Options: Raise rents to market, use yard for storage and/or parking income, add bedrooms to a couple existing units, convert garage to ADU, develop an additional building, or redevelop full parcel under R4 zoning. (Buyer to verify feasibility of all development options.) Priced at less than $235,000 per unit, under $260 per square foot, and at $62 per square foot of land, the offering represents a below-replacement-cost basis for a well-located, high-upside multifamily asset in a designated Regional Growth Center.

1031 1045 SW 122nd Street, Seattle

Listing courtesy of Kidder Mathews.

$999,999
2501776 MLS ⋅ ACTIVE Status
Rare redevelopment opportunity in Burien on Des Moines Memorial Drive South. Two tax parcels sold together totaling 23,784 SF, zoned MU-2 — permitting up to 65 feet in height with no FAR cap. Qualifying mixed-use buildings may achieve up to 85 feet. This corridor zoning is purpose-built for midrise mixed-use development and represents one of the more compelling land opportunities in South King County. Three tenants currently in place: two residential homes and a commercial space leased to a motorcycle business, producing $2,900/month gross. Level street-to-street lot with frontage on both Des Moines Memorial Dr S and Roseberg Ave S. Easy access to Sea-Tac Airport, I-5, and SR-509. Minutes to North Sea-Tac Park, shopping, dining, and transit. Ideal for a developer, investor, or owner-user. Shown by appointment with accepted offer or signed LOI. Do not disturb tenants. All information deemed reliable but buyer to verify to buyer's satisfaction.

12644 Des Moines Memorial Dr, Burien

Listing courtesy of John L. Scott, Inc..

$4,150,000
2480872 MLS ⋅ ACTIVE Status
Sited just off 509 at the edge of SeaTac Airport sits 15043 8th Ave S AND 648 S 152nd Street in Burien. These two buildings include 23 studio units and one large ground floor office space, perfect for a law office or other entity. With a simple commute in any direction and proximity to light rail, these buildings have had minimal vacancy. Both buildings present an excellent opportunity for a savvy buyer with upside potential.

15043 8th Avenue S, Burien

Listing courtesy of Windermere Real Estate Co..

$1,925,000
2464787 MLS ⋅ ACTIVE Status
Built in 1967, the Holly Lane Apartments sit on a 12,846 sqft lot in a peaceful lakeside neighborhood in the heart of downtown Burien. The building is comprised of 10 spacious two-bedroom/one-bathroom floor plans that average 925 sqft. The apartments have functional layouts, abundant storage, complete kitchen appliance packages, and private balconies/patios. The units have been well maintained with a mix of “classic” interior finishes and light updates such as LVP flooring and appliances. Building features and amenity spaces include a very large common laundry area on the lower level, secure resident and manager/owner storage lockers and a large office space suitable for a property manager.

1017 SW 154th Street, Burien

Listing courtesy of Paragon Real Estate Advisors.

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