5050 Martin Luther King Jr Way South
5050 Martin Luther King Jr Way South
Seattle, WA 98118
$2,100,000
Price
4
Beds
4
Baths
2,736 Sq. Ft.
$768 / Sq. Ft.
2,736
Sq. Ft.
$768
per Sq. Ft.
Listing provided courtesy of CENTURY 21 North Homes Realty
Description
Best value is in the land. Zoned LR3 RC(M). Permits in process to build 5 townhomes on back of property plus a 10 unit street facing apartment building with 2 ground floor commercial spaces. Permits will be included in the price. Property will provide a nice income stream until you are ready to develop. Existing 4-plex has been updated with 4 identical 1 bdrm units plus an unfinished basement with laundry area and room to potentialy add another unit. Seller in process of installing a new roof. Plenty...Best value is in the land. Zoned LR3 RC(M). Permits in process to build 5 townhomes on back of property plus a 10 unit street facing apartment building with 2 ground floor commercial spaces. Permits will be included in the price. Property will provide a nice income stream until you are ready to develop. Existing 4-plex has been updated with 4 identical 1 bdrm units plus an unfinished basement with laundry area and room to potentialy add another unit. Seller in process of installing a new roof. Plenty of parking in the back. Light rail station is only 2 blocks away. Architectual renderings available by request.
- Listed by Jim Conlan • CENTURY 21 North Homes Realty
- Listed by Ross Daniel • CENTURY 21 North Homes Realty
Property Details for 5050 Martin Luther King Jr Way South
Community Name
Rainier Valley
School DistrictSeattle
ViewTerritorial
Number of Assigned Spaces4
Total Covered Parking0
Entry Date02-14-2024
Energy SourceElectric,Natural Gas
SewerSTEP Sewer
Location
Listing Courtesy of CENTURY 21 North Homes Realty![]()
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LISTING UPDATED: 04/16/2024 10:32 AM
Property Details for 5050 Martin Luther King Jr Way South
| Status | Active |
|---|---|
| MLS # | 2199553 |
| Days on Market | 77 |
| Cumulative Days on Market | 77 |
| Taxes | $7,683 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1951 |
| Lot Size | 0.14 AC / 6,299 SF |
| County | King County |
Location
Listing Courtesy of CENTURY 21 North Homes Realty![]()
Add your commute
Building Information for 5050 Martin Luther King Jr Way South
Stories2Residences4Year Built1951Building Size-Lot Size0.14 AC / 6,299 SF
Payment Calculator
$12,101 per month
30 year fixed, 7.25% Interest
Principal and Interest
$11,461
Property Taxes
$640
HOA Dues
$0
The Payment Calculator is for illustrative purposes only.
Property Information for 5050 Martin Luther King Jr Way South
Summary
Location and General Information
- Style: 54 - 4-Plex
- Area: 380 - Southeast Seattle
- Directions: Building is on East side of MLK Jr Way S between S Hudson & S Dawson
- Leased Items: None
- Property Sub Type: MULT
- View: Yes
- Waterfront: No
Taxes and HOA Information
- Tax Year: 2023
Parking
- Number of Carport Spaces: 0.0
- Carport: No
- Open Parking Spaces: 0.0
- Open Parking: No
Interior and Exterior Features
Interior Features
- Cooling: No
- Cooling: None
- Fireplace: No
- Heating: Yes
- Heating: Baseboard
- FIRPTA: No
Exterior Features
- Exterior: Wood
- Roof: Composition
Property
Utilities
- Water Source: Public
- Water/Sewer/Garbage: 6000
- Power Company: City Light
- Sewer Company: City Seattle
- Water Company: City Seattle
- Power Production Type: Electric, Natural Gas
Property and Assessments
- New Construction YN: No
- Zoning Jurisdiction: City
- Foundation: Poured Concrete
- Zoning Class: Multi-Family
- First Right Of Refusal: false
- Possible Use: Multi-Family
- Letter On File: Duplicate Prop Type
- MLS Square Footage Source: Realist
- Preliminary Title Ordered: Yes
- Senior Community: No
- Special Listing Conditions: None
- Photos Count: 3
Lot Information
- Lot Details: Curbs, Sidewalk, Value In Land
- Lot Size Source: Realist
- Parcel Number Free Text: 2660500296
- Building Condition: Remodeled
- Calculated Square Footage: 2736
- Structure Type: Quadruplex
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 2736.0
- 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: 2
- Vacancy Rate: 0
- Number Of Units Total: 4
- Units Below Grade: false
- Units In Building Total: 4
Financing / Income and Expenses
- Electric Expense: $0
- Total Expenses: 15483
- Gross Adjusted Income: 73200
- Gross Rent Multiplier: 31
- Gross Scheduled Income: $73,200
- Insurance Expense: $1,800
- Net Operating Income: $57,706
- Other Expenses: $0
- Total Monthly Income: 6100
- Fuel Expense: $0
Unit 1
- Name Unit 1: 5050
- Washer/Dryer Unit 1: true
- Range/Oven Unit 1: true
- Refrigerator Unit 1: true
- Dishwasher Unit 1: true
- Square Feet Unit 1: 684
- Rent Unit 1: $1,500.00
- Bedrooms Unit 1: 1
- Bathrooms Unit 1: 1
Unit 2
- Name Unit 2: 5050 1/2
- Washer/Dryer Unit 2: true
- Range/Oven Unit 2: true
- Refrigerator Unit 2: true
- Dishwasher Unit 2: true
- Square Feet Unit 2: 684
- Rent Unit 2: $1,500.00
- Bedrooms Unit 2: 1
- Bathrooms Unit 2: 1
Unit 3
- Name Unit 3: 5052
- Washer/Dryer Unit 3: true
- Range/Oven Unit 3: true
- Refrigerator Unit 3: true
- Dishwasher Unit 3: true
- Square Feet Unit 3: 684
- Rent Unit 3: $1,500.00
- Bedrooms Unit 3: 1
- Bathrooms Unit 3: 1
Unit 4
- Name Unit 4: 5052 1/2
- Washer/Dryer Unit 4: true
- Range/Oven Unit 4: true
- Refrigerator Unit 4: true
- Dishwasher Unit 4: true
- Square Feet Unit 4: 684
- Rent Unit 4: $1,600.00
- Bedrooms Unit 4: 1
- Bathrooms Unit 4: 1
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 2736.0
- Leasable Area Units: Square Feet
Property History for 5050 Martin Luther King Jr Way South
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 5050 Martin Luther King Jr Way South
Taxable ValueLand$850,300Additions$1,000Total$851,300
Tax Record2022$33,025 ($2,752 / month)
Home Facts
Total Finished SqFt2,736 SqFtAbove Ground SqFt2,736 SqFtStories2Lot Size6,299 SqFtStyleMulti-Family Dwelling (2-4)Year Built1951Year Renovated1987ZoningLR3 RC (M)CountyKINGAPN266050-0296
Schools near 5050 Martin Luther King Jr Way South
This home is within Seattle Public Schools.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 6 to 12 |
Rating | School | Distance |
|---|---|---|
Hawthorne Elementary School PublicPK to 5 | ||
Aki Kurose Middle School Public6 to 8 | ||
Franklin High School Public9 to 12 | ||
Interagency Programs Public6 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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Listing Courtesy of CENTURY 21 North Homes Realty
Listing provided courtesy of NWMLS, RMLS or Yakima MLS. The information contained in this listing has not been verified by Compass or the MLS and should be verified by the buyer. The DOM value represents the number of days this listing has been Active on this website.