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547 S Sullivan St
Multi-Family
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$638,000

$510/sqft

547 S Sullivan St, Seattle

42% below median
3 bd·2 ba·1,250 sqft
Built 19054,500 sqft lotSouth Park

547 S Sullivan St, Seattle, WA

3 bd · 2 ba · 1,250 sqft Multi-Family listed at $638,000, built in 1905 in the South Park neighborhood.

About this home

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!

Property details

Price
$638,000
Bedrooms
3
Bathrooms
2
Interior
1,250 sqft
Price / sqft
$510
Year built
1905
Lot size
4,500 sqft
Type
Multi-Family
Days on market
226
Est. property tax
$5,933/yr · $494/mo · 0.93% WA avg
Last sold
$637,500 · Jul 2022

Estimated monthly payment

Down payment20% ($127,600)
Interest rate6.75%
Principal & Interest$3,310
Property Tax$585
Insurance$150
Total$4,045/mo

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Price history

▼ 0.3%Most recent change on 2026-04-16: $640,000 → $638,000.

$753K$343K$-66K$90K on Jun 89 (Sold)$90K on May 92 (Sold)$115K on Jun 99 (Sold)$132K on Apr 00 (Sold)$148K on Jun 03 (Sold)$275K on Nov 07 (Sold)$45K on Dec 14 (Initial list)$158K on Jan 15 (Sold)$250K on Mar 16 (Sold)$638K on Jul 22 (Sold)$2K on Feb 23 (Price change)$2K on Sep 23 (Price change)$685K on Sep 25 (Initial list)$675K on Oct 25 (Price change)$645K on Nov 25 (Price change)$639K on Dec 25 (Price change)$634K on Jan 26 (Price change)$645K on Feb 26 (Price change)$640K on Mar 26 (Price change)$638K on Apr 26 (Price change)
$90K · Jun 89$638K · Apr 26
  1. Apr 16, 2026$638,000Price change
  2. Mar 17, 2026$640,000Price change
  3. Feb 10, 2026$645,000Price change
  4. Jan 5, 2026$634,000Price change
  5. Dec 17, 2025$639,000Price change
  6. Nov 6, 2025$645,000Price change
  7. Oct 24, 2025$675,000Price change
  8. Sep 11, 2025$685,000Initial list price
  9. Sep 21, 2023$1,895Price change
  10. Feb 5, 2023$1,845Price change
  11. Jul 22, 2022$637,500Sold
  12. Mar 8, 2016$250,000Sold
  13. Jan 23, 2015$157,500Sold
  14. Dec 23, 2014$45,000Initial list price
  15. Nov 16, 2007$274,500Sold
  16. Jun 11, 2003$147,975Sold
  17. Apr 6, 2000$132,000Sold
  18. Jun 7, 1999$115,000Sold
  19. May 15, 1992$90,000Sold
  20. Jun 15, 1989$90,000Sold

Location

This home is located in Seattle, WA. Browse more Seattle listings on the Seattle market page or explore the full Seattle market report.

Location

Map of 547 S Sullivan St, Seattle
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Home Intelligence

Neighborhood (zip 98108)

Median age is 37.4; 23% hold a bachelor's degree; 57% of homes are owner-occupied; median household income is $90,179.

Median income
$90,179
Median age
37.4
Owner-occupied
56.7%
Bachelor's degree
22.8%
Census median home value
$676,000

Source: US Census Bureau American Community Survey 5-year estimates.

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