NOT LISTED FOR SALE

2371 48th Ave SW Seattle, WA 98116

North Admiral Neighborhood

Estimated Value: $1,015,031 - $1,345,000

5 Beds
3 Baths
2,620 Sq Ft
$432/Sq Ft Est. Value

Last Sold August 16, 2019

Last sale price $1,500,000 $573 Per Sq Ft

Est. 25% decrease in value since last sale

Current estimated payment $6,888/month

193 Days on Market

Highlights

  • 0.25 Acre Lot
  • Corner Lot
  • Wood Siding
  • Alki Elementary School Rated A-
  • Property is in very good condition
  • Wall to Wall Carpet

About This Home

As of August 2019

2 side x side retro mid-century triplexes. 6 units 2365 & 2371 48th SW, 2 more contiguous triplexes available, listing No. 1389930 North Admiral near Alki and Junction. Some units have LVT floors, Quartz Counter. All have fresh paint, original birch cabinets & tiles. 4 buildings available on 9 lots. Potential to build up to 21 units. Meticulously maintained, with updates and mid-century style. All units are non-smoking, with DW, Micro, Self-Clean Range and coin laundry, huge storage rooms

Last Agent to Sell the Property

Lawrence Nitkey

Skyline Properties, Inc. License #11040 Listed on: 11/02/2018

Skyline Properties, Inc.

Last Buyer's Agent

Lawrence Nitkey

Skyline Properties, Inc. License #11040 Listed on: 11/02/2018

Skyline Properties, Inc.

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 1390148

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $13,180

Year Built

  • Built in 1959

Lot Details

  • 0.25 Acre Lot
  • Corner Lot
  • Property is in very good condition

Home Design

  • Triplex
  • Brick Exterior Construction
  • Poured Concrete
  • Composition Roof
  • Built-Up Roof
  • Wood Siding

Interior Spaces

  • 2,620 Sq Ft Home
  • 2-Story Property

Flooring

  • Wall to Wall Carpet
  • Laminate
  • Vinyl

Parking

  • 6 Parking Spaces
  • Open Parking

Community Details

  • West Seattle Park Condos
  • Admiral Subdivision

Listing and Financial Details

  • Legal Lot and Block 1-5 / 43
  • Assessor Parcel Number 9281200255

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$13,180

Year Built

Built in 1959

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 53 - Tri-plex
  • Year Built: 1959
  • Buyer Agency Compensation: 3
  • MLS Status: Sold
  • Prev Status: Closed
  • Building Name: West Seattle Park
  • New Construction: No
  • CalculatedSquareFootage: 2620
  • Special Features: None

Interior Features

  • Possible Use: Multi-Family
  • Fireplace: No
  • Flooring: Laminate, Vinyl, Carpet
  • Interior Amenities: Wall to Wall Carpet, Laminate Hardwood
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • Amenities: Coin Op Laundry,Storage

Exterior Features

  • Roof: Built-Up, Composition
  • Lot Features: Corner Lot, Curbs, Paved, Sidewalk
  • View: No
  • Waterfront: No
  • Exterior Features: Brick, Wood
  • Foundation Details: Poured Concrete
  • Property Condition: Very Good
  • Structure Type: Triplex

Garage/Parking

  • Carport Y N: No
  • Open Parking Spaces: 6
  • Open Parking: Yes
  • Total Parking Spaces: 6
  • ParkingUncoveredSpaces: 6

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Heating Yn: Yes
  • Utilities: Sewer Connected, Electric
  • WaterSewerGarbage: 7856

Schools

  • Junior High Dist: Seattle

Lot Info

  • Parcel Number: 9281200255
  • Lot Size Acres: 0.2545
  • Lot Size: (56 x 99)x2
  • Lot Size Sq Ft: 11088
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • MLSLotSizeSource: KC Records
  • ZoningJurisdiction: City
  • ZoningClass: Multi-Family
  • LotNumber: 1-5

Green Features

  • Power Production Type: Electric

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 16
  • LeasedItems: None,Washer/Dryer
  • TotalMonthlyIncome: 9365

Multi Family

  • Gross Scheduled Income: 112380
  • Net Operating Income: 88652
  • Number Of Units Total: 6
  • Electric Expense: 986
  • Insurance Expense: 1706
  • Leasable Area: 4100
  • UnitsInBuildingTotal: 6
  • UnitsBelowGrade: false
  • VacancyRate: 0

Tax Info

  • Year: 2017
  • Tax Annual Amount: 13180

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 2, 2018
Closed on
Jul 31, 2019
Sold by
Nitkey Lawrence P and Nitkey Carla G
Bought by
G9 North Admiral Llc
Seller's Agent
Lawrence Nitkey
Skyline Properties, Inc.
Buyer's Agent
Lawrence Nitkey
Skyline Properties, Inc.
List Price
$1,800,000
Sold Price
$1,500,000
Premium/Discount to List
-$300,000
-16.67%
Current Estimated Value
$1,130,758

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$369,242
Avg. Annual Appreciation
-4.50%
Original Mortgage
$487,500
Outstanding Balance
$424,012
Interest Rate
3.37%
Mortgage Type
Adjustable Rate Mortgage/ARM
Estimated Equity
$706,746

Purchase Details

Closed on
May 23, 2005
Sold by
Nitkey John W and Nitkey Frances L
Bought by
Nitkey Lawrence P and Nitkey Carla G

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,658,550
Interest Rate
5.74%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Apr 9, 2004
Sold by
Nitkey John W and Nitkey Frances L
Bought by
Nitkey John W and Nitkey Frances L
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
G9 North Admiral Llc $750,000 First American Title Ins Co
Nitkey Lawrence P $1,658,550 --
Nitkey John W -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open G9 North Admiral Llc $487,500
Previous Owner Nitkey Lawrence P $1,658,550
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/16/2019 08/16/19 Sold $1,500,000 -16.7% $573 / Sq Ft
05/14/2019 05/14/19 Pending -- -- --
11/02/2018 11/02/18 For Sale $1,800,000 -- $687 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $10,433 $1,019,000 $1,018,000 $1,000
2023 $9,495 $941,000 $940,000 $1,000
2022 $8,355 $920,000 $910,000 $10,000
2021 $7,831 $848,000 $838,000 $10,000
2020 $8,536 $754,000 $443,000 $311,000
2018 $7,740 $834,000 $443,000 $391,000
2017 $6,728 $741,000 $402,000 $339,000
2016 $6,446 $663,000 $383,000 $280,000
2015 $5,450 $622,000 $360,000 $262,000
2014 -- $534,000 $261,000 $273,000
2013 -- $459,000 $227,000 $232,000
Source: Public Records

Agents Affiliated with this Home

  • L

    Seller's Agent in 2019

    Lawrence Nitkey

    Skyline Properties, Inc

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 1390148

Northwest Multiple Listing Service (NWMLS)

APN: 928120-0255

Washington King County Seattle 98116 North Admiral

2371 48th Ave SW, Seattle, WA

This home is located at 2371 48th Ave SW, Seattle, WA 98116 since 02 November 2018 and is currently estimated at $1,130,758, approximately $431 per square foot. This property was built in 1959. 2371 48th Ave SW is a home located in King County with nearby schools including Alki Elementary School, Madison Middle School, and West Seattle High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Northwest Multiple Listing Service (NWMLS) 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. Listing information is provided by the Northwest Multiple Listing Service (NWMLS). Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with the 3 tree icon and provided by NWMLS. All properties are subject to prior sale or withdrawal. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID. ©2025 NWMLS.
Based on information submitted to the MLS GRID

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