547 S Sullivan Street, Seattle, WA 98108

Seattle
Local realty services provided by:RSVP Brokers ERA
Listed by: autumn allen
Office: inspire realty
MLS#:2432506
Source:NWMLS
547 S Sullivan Street,Seattle, WA 98108
$640,000
  • - Beds
  • - Baths
  • 1,250 sq. ft.
  • Multi-family
  • Active

Price summary

  • Price:$640,000
  • Price per sq. ft.:$512

About this home

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!

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Home facts

  • Year built:1905
  • Listing ID #:2432506
  • Updated:April 06, 2026 at 12:23 AM

Rooms and interior

  • Flooring:Carpet, Vinyl Floor, Vinyl Plank
  • Living area:1,250 sq. ft.

Structure and exterior

  • Roof:Composition
  • Year built:1905
  • Building area:1,250 sq. ft.
  • Lot area:0.1 Acres
  • Lot Features:Alley, Curbed Lot, Dead-end Street, Paved, Secluded, Sidewalk
  • Construction Materials:Cement Planked
  • Exterior Features:Fenced-Fully

Utilities

  • Water:Public
  • Sewer:Sewer Connected

Finances and disclosures

  • Price:$640,000
  • Price per sq. ft.:$512
  • Tax amount:$4,728 (2025)

Parking

  • Total parking spaces:2
  • Parking description:Uncovered Space(s) : 2
MLS LogoListings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of April 6, 2026. 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. Listing information is provided for consumers' personal, non-commercial use, solely to identify prospective properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Information deemed reliable but not guaranteed. Copyright © 2026 MLS GRID. All Rights Reserved.

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