Listed by John L Scott Westwood, Bought with Best Choice Realty LLC
NOT LISTED FOR SALE

6553 42nd Ave SW Seattle, WA 98136

Gatewood Neighborhood

Estimated Value: $938,596 - $1,234,000

6 Beds
4 Baths
3,460 Sq Ft
$308/Sq Ft Est. Value

Last Sold June 06, 2024

Last sale price $955,000 $276 Per Sq Ft

Est. 12% increase in value since last sale

Current estimated payment $6,570/month

9 Days on Market

Highlights

  • Views of a Sound
  • Deck
  • No HOA
  • Madison Middle School Rated A-
  • Wood Flooring
  • Patio

About This Home

As of June 2024

Investor Alert! Profitable investment opportunity in the heart of The vibrant Morgan Junction neighborhood of West Seattle. Two 2bed/1bath units on main floor and two 1bed/1bath units on lower level. Large deck w/westerly mountain & sound view. Garage for 2 cars plus off-street parking for 2 more cars. Alley/street access. Walk/bike to everything West Seattle has to offer. 85 walk score. Long-term tenants, low vacancies and low turnover. Significant rental upside as rents are low. The cap rate is currently sitting at 5.62%, but could be higher if an investor wants to upscale the units or get creative with shorter-term (AirBNB), higher rent leases. Zoned LR2 for future development options.

Last Agent to Sell the Property

Jen Shaughnessy

John L Scott Westwood License #99174 Listed on: 04/16/2024

John L Scott Westwood

Co-Listed By

Greg Singleton

John L Scott Westwood License #94174

Last Buyer's Agent

Wenwei Xu

Best Choice Realty LLC License #21035288

Best Choice Realty LLC

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2222226

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,800

Year Built

  • Built in 1963

Lot Details

  • 6,250 Sq Ft Lot
  • Lot Dimensions are 50 x 124
  • Partially Fenced Property
  • Value in Land

Property Views

  • Views of a Sound
  • Mountain Views

Home Design

  • Quadruplex
  • Brick Exterior Construction
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 3,460 Sq Ft Home
  • 2-Story Property

Flooring

  • Wood
  • Wall to Wall Carpet
  • Ceramic Tile
  • Vinyl

Parking

  • 4 Parking Spaces
  • 2 Covered Spaces
  • Open Parking

Outdoor Features

  • Deck
  • Patio

Utilities

  • Baseboard Heating
  • Heating System Mounted To A Wall or Window

Community Details

  • No Home Owners Association
  • Gatewood Gardens Condos
  • Gatewood Subdivision

Listing and Financial Details

  • Assessor Parcel Number 2719100025

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,800

Year Built

Built in 1963

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 54 - 4-Plex
  • Year Built: 1963
  • Buyer Agency Compensation: 2.5%
  • MLS Status: Sold
  • Prev Status: Closed
  • Building Name: Gatewood Gardens
  • New Construction: No
  • CalculatedSquareFootage: 3460
  • Special Features: None

Interior Features

  • Possible Use: Multi-Family
  • Fireplace: No
  • Flooring: Ceramic Tile, Hardwood, Vinyl, Carpet
  • Interior Amenities: Ceramic Tile, Hardwood, Wall to Wall Carpet
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • BathsFullUpper: 0
  • BathsHalfUpper: 0
  • BathsThreeQuarterUpper: 0
  • BedroomsUpper: 0
  • Amenities: Coin Op Laundry

Exterior Features

  • Roof: Composition
  • View: Mountain(s), Sound
  • Lot Features: Curbs, Paved, Sidewalk, Value In Land
  • View: Yes
  • Waterfront: No
  • Exterior Features: Brick, Wood
  • Structure Type: Quadruplex

Garage/Parking

  • Carport Y N: No
  • Covered Parking Spaces: 2
  • Open Parking Spaces: 2
  • Open Parking: Yes
  • Total Parking Spaces: 4
  • ParkingUncoveredSpaces: 2

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Security: FullyFenced
  • Cooling: None
  • Cooling Y N: No
  • Heating: Baseboard, Wall Unit(s)
  • Heating Yn: Yes
  • PowerCompany: Seattle City Light
  • SewerCompany: SPU
  • WaterCompany: SPU
  • WaterSewerGarbage: 6000

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: Seattle

Lot Info

  • Parcel Number: 2719100025
  • Lot Size Acres: 0.1435
  • Lot Size: 50 x 124
  • Lot Size Sq Ft: 6250
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Deck,Fenced-Partially,Patio
  • MLSLotSizeSource: Realist
  • MLSSquareFootageSource: Realist
  • ZoningJurisdiction: City
  • ZoningClass: Multi-Family

Green Features

  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 13.19
  • LeasedItems: None
  • TotalMonthlyIncome: 6000

Multi Family

  • Gross Scheduled Income: 72000
  • Net Operating Income: 54370
  • Number Of Units Total: 4
  • Electric Expense: 600
  • Insurance Expense: 2230
  • Leasable Area: 3371
  • EnergySource: Electric
  • UnitsInBuildingTotal: 4
  • UnitsBelowGrade: false
  • VacancyRate: 0

Tax Info

  • Year: 2024
  • Tax Annual Amount: 8800

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 16, 2024
Closed on
Jun 3, 2024
Sold by
Steffes Robert M and Steffes Rosemary
Bought by
Li Emily
Seller's Agent
Jen Shaughnessy
John L Scott Westwood
Buyer's Agent
Wenwei Xu
Best Choice Realty LLC
List Price
$950,000
Sold Price
$955,000
Premium/Discount to List
$5,000
0.53%
Views
18
Current Estimated Value
$1,065,899

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$110,899
Avg. Annual Appreciation
1.05%
Original Mortgage
$667,000
Interest Rate
7.17%
Mortgage Type
New Conventional
Source: Public Records

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

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
Li Emily $955,000 Fidelity National Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Li Emily $656,000
Closed Li Emily $667,000
Previous Owner Steffes Robert M $235,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/06/2024 06/06/24 Sold $955,000 +0.5% $276 / Sq Ft
04/25/2024 04/25/24 Pending -- -- --
04/16/2024 04/16/24 For Sale $950,000 -- $275 / 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 $10,690 $1,036,000 $678,000 $358,000
2023 $8,800 $854,000 $663,000 $191,000
2022 $7,660 $907,000 $567,000 $340,000
2021 $7,358 $760,000 $490,000 $270,000
2020 $7,305 $695,000 $448,000 $247,000
2018 $6,384 $694,000 $448,000 $246,000
2017 $5,430 $616,000 $220,000 $396,000
2016 $5,240 $539,000 $194,000 $345,000
2015 $4,462 $510,000 $184,000 $326,000
2014 -- $442,000 $161,000 $281,000
2013 -- $396,000 $144,000 $252,000
Source: Public Records

Agents Affiliated with this Home

  • Jen Shaughnessy

    Seller's Agent in 2024

    Jen Shaughnessy

    John L Scott

    (206) 399-6586

    3 in this area

    81 Total Sales

    Jen Shaughnessy
    Section Image

  • G

    Seller Co-Listing Agent in 2024

    Greg Singleton

    John L Scott

    (206) 370-2008

    1 in this area

    23 Total Sales

    Greg Singleton
    Section Image
  • Wenwei Xu

    Buyer's Agent in 2024

    Wenwei Xu

    Best Choice Realty Brokerage

    (425) 535-7998

    1 in this area

    44 Total Sales

    Wenwei Xu
    Section Image
See All Agents

Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2222226

Northwest Multiple Listing Service (NWMLS)

APN: 271910-0025

Washington King County Seattle 98136 Gatewood

6553 42nd Ave SW, Seattle, WA

This home is located at 6553 42nd Ave SW, Seattle, WA 98136 since 16 April 2024 and is currently estimated at $1,065,899, approximately $308 per square foot. This property was built in 1963. 6553 42nd Ave SW is a home located in King County with nearby schools including Madison Middle School, West Seattle High School, and Our Lady of Guadalupe Catholic 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

Nearby Homes