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$499,888 Just Listed

  • For Sale
  • Active
  • Single Family
  • 3 Beds
  • 1 Full Bath
  • 2,150 Sq. Ft.
  • Updated 16 hours ago

Listed by Tammy Yao | Windermere Real Estate/East | (425) 822-5100 and Jim Melgard | Windermere Real Estate/East | (425) 822-5100

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INVESTOR AND DEVELOPER ALERT! Unlock the massive potential of this rare South Seattle find in the historic Hillman's Meadow Gardens. This unique offering includes 2 structures on a condominimiumized lot: A Craftsman-style fixer as the primary residence that is 2,150 gross sqft, and a 770 sqft fully detached structure. Together they are sited on a lot that already has 2 separate legal descriptions. With a survey sketch available and the condominiumization complete, the possibilities are endless! This condominiumized property offers a compelling value-add opportunity with multiple high-yield exit strategies. Flip both units and sell separately for maximum resale value, rehab both and sell one off to hold the other as a rental with limited carrying costs, or renovate and sell the entire package to deliver a turnkey lifestyle investment. However you structure it, each scenario presents strong margin potential and flexible capital deployment, making this an attractive play for both short-term gains and long-term yield. Located in a charming, established neighborhood known for its large lots and mature landscaping, you are just minutes from MLK Jr. Way S, Skyway, shopping, and major transit hubs. Bring your builder and your vision to this centrally located gem and secure a rare footprint in a high-demand South Seattle pocket. Private Money Lender for Investment buyers only, pre-approved for 10-20% down OAC.

Full Property Details for 5360 S Wallace #A & B

General

  • Price: $499,888
  • Taxes: $6,264 (2025)
  • Status: Active
  • Type: Single Family
  • Source: NWMLS
  • MLS ID: 2480758
  • Updated: 2/16/2026
  • Added to Site: 2 day(s) ago

Rooms

Bathrooms

  • Total Bathrooms: 1
  • Full Bathrooms: 1
  • Main Floor Baths: 1

Bedrooms

  • Total Bedrooms: 3
  • Bedrooms Upper: 2
  • Bedrooms Main: 1

Additional Information

  • Amenities: Fenced-Partially, RV Parking
  • Security/Safety: Partially Fenced

Parking

  • Parking Features: Driveway, Off Street, RV Parking

Location

  • Area: 380 - Southeast Seattle
  • County: King
  • Subdivision: Rainier Valley
  • Building Name: HILLMAN'S MEADOW GARDENS
  • Driving Directions: From I5 southbound take exit 158. Turn Left on S Boeing Access Rd. Turn right on 51st Ave S. Turn right on S Wallace St. Hoe is on the right. GPS works well.

School Information

  • High School District: Seattle
  • Elementary School: Rainier View
  • Middle School: Aki Kurose
  • High School: Rainier Beach High

Heating & Cooling

  • Cooling Type: None
  • Heating Type: Forced Air

Utilities

  • Sewer: Available, Sewer Connected
  • Water: Public

Structural Information

  • Architectural Style: Craftsman
  • Structure Type: House
  • Exterior Const.: Wood, Wood Products
  • Basement Desc.: Unfinished
  • Foundation: Poured Concrete, Slab
  • Roof: Composition
  • Entry Location: Main
  • Square Feet: 2,150
  • Finished Total: 1,300 Sq. Ft.
  • Unfinished Total: 850 Sq. Ft.
  • Year Built: 1911
  • Property Condition: Fixer

Lot Features

  • Property View: Territorial
  • Lot Size (Acres): 0.2406
  • Lot Size (Sq. Ft.): 10,480
  • Lot Size Source: KCR
  • Topography: Level
  • Lot Features: Dead End Street, Paved, Value In Land
  • Trees/Vegetation: Brush, Garden Space

Financial Considerations

  • Tax Amount: $6,264
  • Tax Year: 2025
  • Terms: Cash, Rehab Loan

Disclosures and Reports

  • Special Conditions: Bank Or REO, None
  • Property ID: 3348401430

Listed by Tammy Yao | Windermere Real Estate/East | (425) 822-5100 and Jim Melgard | Windermere Real Estate/East | (425) 822-5100

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Schools serving 5360 S Wallace #A & B

School District:Seattle School District
NameGradesDistance
Rainier View
11650 Beacon Avenue South, Seattle, WA 98178
K-50.1 mi
Aki Kurose Middle School
3928 South Graham Street, Seattle, WA 98118
6-83.4 mi
Rainier Beach High School
8815 Seward Park Avenue South, Seattle, WA 98118
9-121.8 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 5360 S Wallace #A & B Get Price Alerts and Save Property

Date
Details
Price
Change
Source
2/16/2026
Listed
$499,888
36.02%
MLS
3/03/2022
Sold
$367,500
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 5360 S Wallace #A & B

Year
Property Taxes
Change
Tax Assessment
Change
2024
$5,769
—
$521,000
-4%
2024
$5,769
-47%
$545,000
—
2022
$10,852
121%
$545,000
22%
2021
$4,909
—
$448,000
10%
2021
$4,909
3%
$407,000
1%
2020
$4,771
9%
$404,000
-2%
2019
$4,369
7%
$411,000
24%
2018
$4,083
18%
$332,000
16%
2017
$3,471
10%
$286,000
13%
2016
$3,163
17%
$254,000
17%
2015
$2,699
13%
$218,000
27%
2014
$2,383
—
$172,000
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Tammy Yao | Windermere Real Estate/East | (425) 822-5100 and Jim Melgard | Windermere Real Estate/East | (425) 822-5100

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5360 S Wallace #A & B, Seattle, WA 98178 (MLS# 2480758) is a Single Family property with 3 bedrooms and 1 full bathroom. 5360 S Wallace #A & B is currently listed for $499,888 and was received on February 16, 2026. Want to learn more about 5360 S Wallace #A & B? Do you have questions about finding other Single Family real estate for sale in Seattle? You can browse all Seattle real estate or contact a Coldwell Banker agent to request more information.

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