547 S Sullivan Street, Seattle, WA 98108

Property Description

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!

Listing Status:

Active

Data Last Updated:

May 20, 2026 at 7:19PM

Listing Office:

Inspire Realty : 253-365-1778

Listing Agent:

Autumn Allen : 253-365-1778

MLS ID:

2432506

Interior

• Flooring: VinylVinyl PlankCarpet
• A/C: None
• Heating: Wall Furnace
• Fireplace: Fireplaces: 0

Exterior

• General: Cement Planked

Construction

• Roofing: Composition
• General: 52 - Duplex

Location

• HOA Amenities: 0.0
• Originating MLS: nwmls
• School District: Seattle
• County: King

Lot

• Zoning: 7883600700
• View: TerritorialView

Utilities

• Water: Public
• Sewer: Sewer Connected

Financial

• Source: nwmls