5050 MARTIN LUTHER KING JR WAY S, Seattle, WA 98118

$2,500,000
2,736
SqFt

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Listing courtesy of Skyline Properties, Inc..

List Price
$2,500,000
Status
ACTIVE
MLS#
2544198
Days on Market
23
Style
54 - 4-Plex
Building Condition
Average
Finished SqFt
2,736
Area Total SqFt
2736
Annual Tax Ammount
9516
Lot Size (sq ft)
6,299
Sewer
Sewer Connected

Property Description

Prime Columbia City LR3 (M) Site — Fully Rented Income Property Outstanding investment opportunity along the MLK transit corridor. This LR3 RC (M)-zoned property sits just blocks from the Columbia City Light Rail Station and is fully rented, providing immediate income while offering strong long-term redevelopment potential. The site features gentle topography, solid solar exposure, and frontage along a major arterial with full sidewalks and light rail transit access. 5 minutes walk Surrounded by single-family, townhome, and multifamily developments, this location supports a wide range of future residential uses. Perfect for investors seeking cash flow now with development upside later in one of Seattle’s fastest-growing urban villages.

Additional Information

List Date
2026-07-04 03:43:11
Community
Columbia City
Gross Scheduled Income
$84,000
Total Monthly Income
$7,000
Insurance Expenses
$1,214
Gross Rent Multiplier
73269.53
Total Expenses
$10,730
Cap Rate
4
Total Number of Units
4
Unit Name
5050
Potential Terms
Cash, Conventional, Farm Home Loan, FHA
Year Built
1951
View
City
Roof
Built-Up
Site Features
Cable TV
Energy Source
Natural Gas
School District
Seattle
Elementary School
M L King Elem
Middle School
Aki Kurose
High School
Franklin High
Total Monthly Income
$7,000
Gross Scheduled Income
$84,000
Tax Year
2025
Insurance Expense
$1,214
Total Expenses
$10,730
Gross Rent Multiplier
73269.53
Cap Rate
4
Based on information submitted to the MLS GRID as of . 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.
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