1111 SW 148th St

—
Beds
—
Baths
3,564 Sq. Ft.
$281 / Sq. Ft.
3,564
Sq. Ft.
$281
per Sq. Ft.

Description

Value-add investment opportunity in the heart of Lake Burien. This value-add fourplex offers spacious living with large 2-bedroom/1-bathroom units, perfect and one generously sized 1-bedroom/1-bathroom unit. With the ability to raise rents 40-50% in a high demand market stabilizing at a 7.2% market cap rate. Two units meticulously upgraded to modern standards with the opportunity to renovate two other 2b/1b top floor units with vaulted ceilings. The exterior needs cosmetic upgrades. Situated just...Value-add investment opportunity in the heart of Lake Burien. This value-add fourplex offers spacious living with large 2-bedroom/1-bathroom units, perfect and one generously sized 1-bedroom/1-bathroom unit. With the ability to raise rents 40-50% in a high demand market stabilizing at a 7.2% market cap rate. Two units meticulously upgraded to modern standards with the opportunity to renovate two other 2b/1b top floor units with vaulted ceilings. The exterior needs cosmetic upgrades. Situated just three blocks away from the vibrant Olde Town Burien, residents enjoy easy access to an array of amenities including restaurants, cafes, and stores. Easy access to major freeways downtown Seattle and Bellevue.
  1. Listed by Justin Kraft • Highmark Partners
    P: (206)-895-2988 justin@highmarkpartnersre.com

Property Details for 1111 Southwest 148th Street

Community Name
Lake Burien
School District
Highline
Number of Assigned Spaces
8
Total Covered Parking
0
Entry Date
02-14-2024
Energy Source
Electric
Sewer
Sewer Connected
LISTING UPDATED: 03/27/2026 11:01 AM

Property Details for 1111 Southwest 148th Street

StatusSold
MLS #2199625
Days on Market5
Cumulative Days on Market5
Taxes$9,873 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1973
Lot Size0.17 AC / 7,620 SF
CountyKing County

Location

Listing Courtesy of Highmark Partners

Sold By Berkshire Hathaway HS NW

Add your commute

Building Information for 1111 Southwest 148th Street

Stories2Residences4Year Built1973Building Size-Lot Size0.17 AC / 7,620 SF

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$5,676 per month

30 year fixed, 6.11% Interest

Principal and Interest

$4,853

Property Taxes

$823

HOA Dues

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Property Information for 1111 Southwest 148th Street

Summary
Location and General Information
  • Style: 54 - 4-Plex
  • Area: 130 - Burien/Normandy Park
  • Elementary School: Seahurst Elem
  • Middle Or Junior School: Sylvester Mid
  • High School: Highline High
  • Effective Year Built Source: Public Records
  • Directions: Merge onto WA-518 W Drive to SW 148th St 3 min (0.8 mi) Continue straight onto SW 148th St 0.7 mi Continue straight past Starbucks to stay on SW 148th St Destination will be on the left
  • Leased Items: None
  • Property Sub Type: MULT
  • View: No
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2023
Parking
  • Number of Carport Spaces: 0.0
  • Carport: No
  • Open Parking Spaces: 8.0
  • Open Parking: Yes
Interior and Exterior Features
Interior Features
  • Floor Covering: Vinyl Plank
  • Amenities: Coin Op Laundry
  • Cooling: No
  • Cooling: None
  • Fireplace: No
  • Heating: Yes
  • Heating: Baseboard
  • FIRPTA: No
Exterior Features
  • Exterior: Stucco
  • Roof: Composition
Property
Utilities
  • Water Source: Public
  • Water/Sewer/Garbage: 6381
  • Power Company: Seattle City Light
  • Sewer Company: Southwest sewer
  • Water Company: Highline water
  • Power Production Type: Electric
Property and Assessments
  • New Construction YN: No
  • Zoning Jurisdiction: City
  • Foundation: Slab
  • Zoning Remarks: Residential
  • First Right Of Refusal: false
  • Possible Use: Residential
  • MLS Square Footage Source: public records
  • Preliminary Title Ordered: Yes
  • Senior Community: No
  • Special Listing Conditions: None
  • Year Built Effective: 1995
  • Photos Count: 31
Lot Information
  • Lot Size Source: public records
  • Parcel Number Free Text: 1900000014
  • Building Condition: Fair
  • Calculated Square Footage: 3564
  • Structure Type: Quadruplex
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 3564.0
  • Building Area Units: Square Feet
  • Property Type: Residential Income
  • Elevation Units: Feet
  • Irrigation Water Rights: No
Multi Family
Building Details
  • Number of Uncovered Spaces: 8
  • Number of Stories in Building: 2
  • Vacancy Rate: 5
  • Number Of Units Total: 4
  • Units Below Grade: true
  • Units In Building Total: 4
Financing / Income and Expenses
  • Electric Expense: $0
  • Total Expenses: 23160
  • Gross Adjusted Income: 62586
  • Gross Rent Multiplier: 14.8
  • Gross Scheduled Income: $65,800
  • Insurance Expense: $1,614
  • Net Operating Income: $39,426
  • Other Expenses: $5,292
  • Total Monthly Income: 5490
  • Fuel Expense: $0
Rental
Rent Information
  • Occupant Type: Tenant
  • Leasable Area: 3564.0
  • Leasable Area Units: Square Feet

Property History for 1111 Southwest 148th Street

DateEvent & SourcePriceAppreciation
Mar 25, 2024

Sold

NWMLS #2199625

$1,000,000—
Mar 22, 2024

Sold (Public Record)

Public Record #1530347769

$1,000,000—
Mar 22, 2024

Sold (Public Record)

Public Record #1531211504

$1,000,000—
Feb 19, 2024

Pending

NWMLS #2199625

—
Feb 14, 2024

Listed (Active)

NWMLS #2199625

$975,000—
Nov 27, 2002

Sold

NWMLS #22240414

$325,000—
Oct 28, 2002

Pending

NWMLS #22240414

—
Oct 12, 2002

Listed (Active)

NWMLS #22240414

$325,000—
DateEvent & SourcePrice
03/25/2024

Sold

NWMLS #2199625

$1,000,000
03/22/2024

Sold (Public Record)

Public Record #1530347769

$1,000,000
03/22/2024

Sold (Public Record)

Public Record #1531211504

$1,000,000
02/19/2024

Pending

NWMLS #2199625

—
02/14/2024

Listed (Active)

NWMLS #2199625

$975,000
11/27/2002

Sold

NWMLS #22240414

$325,000
10/28/2002

Pending

NWMLS #22240414

—
10/12/2002

Listed (Active)

NWMLS #22240414

$325,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1111 Southwest 148th Street

Taxable ValueLand$182,800Additions$629,200Total$812,000
Tax Record2024$9,409 ($784 / month)
Home Facts
Total Finished SqFt3,564 SqFtAbove Ground SqFt3,564 SqFtStories2Lot Size7,620 SqFtStyleMulti-Family Dwelling (2-4)Year Built1973Year Renovated1995ZoningRM-12CountyKINGAPN190000-0014

Schools near 1111 Southwest 148th Street

This home is within Highline School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - PK to 12
Rating
School
Distance
Seahurst Elementary School
PublicPK to 5

Glacier Middle School
Public6 to 8

Highline High School
Public9 to 12

Highline Public Schools Virtual Academy
PublicPK to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Highmark Partners

Based on information submitted to the MLS GRID as of 03/27/2026 11:01 AM. 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. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.