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$988,000 Sale Pending

  • For Sale
  • Pending
  • Multi-Family
  • Updated 7 days ago

Listed by Autumn Allen | Inspire Realty | (253) 365-1778

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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!

Full Property Details for 551 S Sullivan St

General

  • Price: $988,000
  • Taxes: $6,664 (2025)
  • Status: Pending
  • Type: Multi-Family
  • Source: NWMLS
  • MLS ID: 2432505
  • Updated: 1/9/2026
  • Added to Site: 127 day(s) ago

Interior

  • Flooring: Ceramic Tile, Vinyl, Vinyl Plank, Carpet

Additional Information

  • Amenities: Fenced-Partially, High Speed Internet
  • Security/Safety: Partially Fenced

Parking

  • Uncovered Spaces: 3

Location

  • Area: 140 - West Seattle
  • County: King
  • Subdivision: South Park
  • Driving Directions: Heading E on Cloverdale, then take a L of 5th Ave S, then R on S Sullivan St. Nice Private dead end street.

School Information

  • High School District: Seattle

Heating & Cooling

  • Cooling Type: None
  • Heating Type: Forced Air, Wall Unit(s)

Utilities

  • Sewer: Sewer Connected
  • Water: Public

Structural Information

  • Structure Type: Triplex
  • Exterior Const.: Cement Planked
  • Roof: Composition
  • Stories in Building: 2
  • Square Feet: 2,760
  • Year Built: 2003
  • Property Condition: Updated/Remodeled

Unit Information

  • Units in Building: 3

Lot Features

  • Property View: Territorial
  • Lot Size (Acres): 0.1033
  • Lot Size (Sq. Ft.): 4,500
  • Lot Size Source: Public Record
  • Lot Features: Adjacent to Public Land, Alley, Corner Lot, Curbs, Dead End Street, Paved, Secluded, Sidewalk

Financial Considerations

  • Tax Amount: $6,664
  • Tax Year: 2025
  • Terms: Cash Out, Conventional, FHA, VA Loan

Disclosures and Reports

  • Special Conditions: None
  • Property ID: 7883600710

Listed by Autumn Allen | Inspire Realty | (253) 365-1778

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NMLS#: 1598647

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Schools serving 551 S Sullivan St

School District:Seattle School District
NameGradesDistance
Concord Elementary School
723 South Concord Street, Seattle, WA 98108
K-50.2 mi
Denny Middle School
2601 SW Kenyon St, Seattle, WA 98126
6-81.9 mi
Chief Sealth High School
2600 SW Thistle, Seattle, WA 98126
9-121.9 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 551 S Sullivan St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
12/17/2025
Price Reduced
$988,000
-1.09%
MLS
11/06/2025
Price Reduced
$998,900
-8.36%
MLS
10/24/2025
Price Reduced
$1,090,000
-0.91%
MLS
9/11/2025
Listed
$1,100,000
11.22%
MLS
6/27/2022
Sold
$989,000
—
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 551 S Sullivan St

Year
Property Taxes
Change
Tax Assessment
Change
2024
$6,654
—
$738,000
4%
2024
$6,654
6%
$709,000
—
2022
$6,268
23%
$709,000
28%
2021
$5,109
—
$554,000
11%
2021
$5,109
4%
$499,000
2%
2020
$4,935
8%
$488,000
-3%
2019
$4,557
6%
$502,000
22%
2018
$4,308
16%
$412,000
13%
2017
$3,707
7%
$365,000
10%
2016
$3,458
19%
$333,000
18%
2015
$2,895
10%
$283,000
22%
2014
$2,630
—
$232,000
—
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 Autumn Allen | Inspire Realty | (253) 365-1778

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551 S Sullivan Street, Seattle, WA 98108 (MLS# 2432505) is a Multi-Family property with 3 units containing 0 bedrooms and 0 full bathrooms. 551 S Sullivan Street is currently listed for $988,000 and was received on September 11, 2025. Want to learn more about 551 S Sullivan Street? Do you have questions about finding other Multi-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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