231 Summit Ave E

Seattle, WA 98102

$2,000,000
Last Sold Price
2
Beds
4
Baths
5,448 Sq. Ft.
$367 / Sq. Ft.
5,448
Sq. Ft.
$367
per Sq. Ft.
Get preapproved with Rocket Mortgage1
Sold 3/13/26
Sold 3/13/26
Listing provided courtesy of 206 Property Advisors, Berkshire Hathaway HS NW
Source: Northwest MLS

Description

Exceptional opportunity to own a historic retail flex space below two gorgeous rental units adjacent to South Lake Union on Capitol Hill's western slope. The versatile commercial space has a well-designed layout with private offices, conference room, two bathrooms, large private back patio, a basement kitchen, and 1920's original features such as terrazo flooring and a working walk-in bank vault. The 2nd floor features two huge 1-bedroom apartments with modern convienceces and charming period details....Exceptional opportunity to own a historic retail flex space below two gorgeous rental units adjacent to South Lake Union on Capitol Hill's western slope. The versatile commercial space has a well-designed layout with private offices, conference room, two bathrooms, large private back patio, a basement kitchen, and 1920's original features such as terrazo flooring and a working walk-in bank vault. The 2nd floor features two huge 1-bedroom apartments with modern convienceces and charming period details. With walk-in closets, lots of light, tall cielings, and built-ins, units are rarely vacant and fetch top market rents for this thriving urban area. ADU pontential in the back. Property could qualify for SBA loan to an occupied business.
  1. Listed by James Eeckhoudt Jr. • 206 Property Advisors
    P: (206)-818-4098 jamese@206pm.com

Property Details for 231 Summit Avenue East

Community Name
Capitol Hill
School District
Seattle
View
City
Total Covered Parking
0
Entry Date
08-14-2025
Energy Source
Electric,Natural Gas
Sewer
Sewer Connected
LISTING UPDATED: 04/13/2026 04:01 AM

Property Details for 231 Summit Avenue East

StatusSold
MLS #2420922
Days on Market13
Cumulative Days on Market13
Taxes$17,419 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income
Year Built1925
Lot Size0.10 AC / 4,271 SF
CountyKing County
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Location

Listing Courtesy of 206 Property Advisors

Sold By Berkshire Hathaway HS NW

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Building Information for 231 Summit Avenue East

Stories3Residences3Year Built1925Building Size-Lot Size0.10 AC / 4,271 SF

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$11,418 per month

30 year fixed, 6.36% Interest

Principal and Interest

$9,966

Property Taxes

$1,452

HOA Dues

$0

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Property Information for 231 Summit Avenue East

Summary
Location and General Information
  • Style: 53 - Tri-plex
  • Area: 390 - Central Seattle
  • Elementary School: Lowell
  • Middle Or Junior School: Meany Mid
  • High School: Garfield High
  • Directions: From I-5 North take the Stewart St to Denny Way exit, take a left on E Denny Way, Left on E Olive Way, Left on Summit Ave E.From I-5 South take exit 166 onto Olive Way, left onto Summit Ave E.
  • Leased Items: None
  • Property Sub Type: MULT
  • View: Yes
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2025
Parking
  • Number of Carport Spaces: 0.0
  • Carport: No
  • Open Parking Spaces: 0.0
  • Open Parking: No
Interior and Exterior Features
Bathroom Information
  • Full Baths Upper: 0
  • Three Quarter Baths Upper: 0
  • Half Baths Upper: 0
  • Main Level Bathrooms: 0
Bedroom Information
  • Bedrooms Upper: 0
Interior Features
  • Fireplaces Total: 0
  • Floor Covering: Ceramic Tile, Concrete, Hardwood, Vinyl, Carpet
  • Cooling: No
  • Cooling: None
  • Fireplace: No
  • Heating: Yes
  • Heating: Baseboard
Exterior Features
  • Exterior: Brick
  • Roof: Flat
Property
Utilities
  • Water Source: Public
  • Water/Sewer/Garbage: 4194
  • Power Company: City Light
  • Sewer Company: SPU
  • Water Company: SPU
  • Power Production Type: Electric, Natural Gas
Property and Assessments
  • New Construction YN: No
  • MLS Square Footage Source: King County
  • Preliminary Title Ordered: Yes
  • Senior Community: No
  • Special Listing Conditions: None
  • Photos Count: 10
Lot Information
  • Lot Size Dimensions: 4,271
  • Lot Size Source: King County
  • Parcel Number Free Text: 2925049092
  • Calculated Square Footage: 5448
  • Structure Type: Triplex
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 5448.0
  • Building Area Units: Square Feet
  • Property Type: Residential Income
  • Elevation Units: Feet
  • Irrigation Water Rights: No
Multi Family
Building Details
  • Number of Uncovered Spaces: 0
  • Number of Stories in Building: 3
  • Vacancy Rate: 4
  • Number Of Units Total: 3
  • Units Below Grade: false
  • Units In Building Total: 3
Financing / Income and Expenses
  • Electric Expense: $0
  • Total Expenses: 27973
  • Gross Adjusted Income: 131351
  • Gross Rent Multiplier: 16
  • Gross Scheduled Income: $136,824
  • Insurance Expense: $4,507
  • Net Operating Income: $97,203
  • Other Expenses: $1,853
  • Total Monthly Income: 11402
  • Fuel Expense: $0
Unit 1
  • Name Unit 1: 1
  • Washer/Dryer Unit 1: false
  • Range/Oven Unit 1: true
  • Refrigerator Unit 1: true
  • Dishwasher Unit 1: true
  • Square Feet Unit 1: 2306
  • Rent Unit 1: $6,562.00
  • Bedrooms Unit 1: 0
  • Fireplaces Unit 1: 0
  • Bathrooms Unit 1: 2
Unit 2
  • Name Unit 2: A
  • Washer/Dryer Unit 2: true
  • Range/Oven Unit 2: true
  • Refrigerator Unit 2: true
  • Dishwasher Unit 2: true
  • Square Feet Unit 2: 950
  • Rent Unit 2: $2,495.00
  • Bedrooms Unit 2: 1
  • Fireplaces Unit 2: 0
  • Bathrooms Unit 2: 1
Unit 3
  • Name Unit 3: B
  • Washer/Dryer Unit 3: true
  • Range/Oven Unit 3: true
  • Refrigerator Unit 3: true
  • Dishwasher Unit 3: true
  • Square Feet Unit 3: 850
  • Rent Unit 3: $2,345.00
  • Bedrooms Unit 3: 1
  • Fireplaces Unit 3: 0
  • Bathrooms Unit 3: 1
Rental
Rent Information
  • Occupant Type: Tenant
  • Leasable Area: 4106.0

Property History for 231 Summit Avenue East

DateEvent & SourcePriceAppreciation
Mar 13, 2026

Sold (Public Record)

Public Record #1931104751

$2,000,000

+3.5% / yr

Mar 13, 2026

Sold

NWMLS #2420922

$2,000,000—
Aug 27, 2025

Pending

NWMLS #2420922

—
DateEvent & SourcePrice
03/13/2026

Sold (Public Record)

Public Record #1931104751

$2,000,000

+3.5% / yr

03/13/2026

Sold

NWMLS #2420922

$2,000,000
08/27/2025

Pending

NWMLS #2420922

—

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

Public Records for 231 Summit Avenue East

Taxable ValueLand$1,708,400Additions$196,200Total$1,904,600
Tax Record2025$19,715 ($1,643 / month)
Home Facts
Total Finished SqFt5,448 SqFtAbove Ground SqFt5,448 SqFtUnfinished Basement Area800 SqFtStories2Lot Size4,271 SqFtStyleOffice BuildingYear Built1925Year Renovated1990ZoningMR (M)CountyKINGAPN292504-9092

Schools near 231 Summit Avenue East

This home is within Seattle Public Schools.
Rating
School
Type
Grades
Distance
Lowell Elementary School
Public - PK to 5
Edmonds S. Meany Middle School
Public - 6 to 8
Garfield High School
Public - 9 to 12
Special Education Service School
Public - PK to 12
Rating
School
Distance
Lowell Elementary School
PublicPK to 5

Edmonds S. Meany Middle School
Public6 to 8

Garfield High School
Public9 to 12

Special Education Service School
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.

Capitol Hill
Capitol Hill
Get to know the unique charms of the community surrounding this home. Capitol Hill’s residents enjoy easy access to North Seattle across the bridge and Downtown Seattle and South Lake Union to the west. Although it’s hyper-connected to the rest of the city, Cap Hill (as it is colloquially referred...
Capitol Hill Guide

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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 206 Property Advisors

Based on information submitted to the MLS GRID as of 04/13/2026 04:01 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.