12508 Lake City Way NE, Seattle, WA 98125

Multifamily · Seattle · Seattle-Bellevue metro, WA

Imagery suggests: mid-rise mixed-use, appears multi-tenant. AI estimate from public imagery. In recent public imagery (2026-06), the building appears well maintained. AI estimate from public imagery; may be outdated.

One of 5,391 reachable multifamily buildings in Seattle. Larger than 90% of multifamily buildings in Seattle (median 9,444 SF), derived from assessor records.

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Building size: 57,775 SF, King County Assessor
Lot size: 9,641 SF, King County Assessor
Year built: 2001, King County Assessor
Stories: 6, King County Assessor
Predominant use: Mixed Use-49 Units, King County Assessor
Units: 49, King County Assessor
Assessed value: $13,753,000, per the King County Assessor (not a market appraisal)
Assessed value per building SF: $238.04/SF, derived from assessor records
Lot coverage: 599%, derived from assessor records
Vintage: 2000s vintage
Zoning: NC3P-95 (M), King County
County use code: Apartment(Mixed Use)
Construction (observed): masonry, AI estimate from public imagery
Parking (observed): street only, AI estimate from public imagery
Frontage (observed): mid block, AI estimate from public imagery

Nearby comparable buildings

Same building type, by distance. Assessor facts only; not an opinion of value.

12512 Lake City Way NE, Seattle · 0 mi · 68,799 SF · built 2004 · assessed $190.06/SF
12350 32nd Ave NE, Seattle · 0.1 mi · 27,420 SF · built 1967 · assessed $216.45/SF
12341 33rd Ave NE, Seattle · 0.1 mi · 6,680 SF · built 1963 · assessed $245.96/SF
12348 33rd Ave NE, Seattle · 0.1 mi · 7,683 SF · built 1967 · assessed $192.24/SF
12333 33rd Ave NE, Seattle · 0.1 mi · 10,986 SF · built 1967 · assessed $223.19/SF
12517 33rd Ave NE, Seattle · 0.1 mi · 18,373 SF · built 2014 · assessed $210.87/SF

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Sale history and market context

MakeMe Estimate: $14,432,947 (estimated market value), with a likely range of $13,183,118 to $14,894,920 (half of recent verified sales in this segment landed inside that range). Based on 98 verified arm's-length comparable sales (through 2026-05-29). Not an appraisal. How this estimate works. About $295K per unit at the midpoint (49 units).

Last sold: 1995-07-27 for $534,100 (recorded arm's-length sale).

Current ownership dates to 2012 (about 14 years) per recorded transfers.

2012-08-23: $16,283,200 from Private party to FSC Lake City Associates LLC (part of a 3-parcel sale; price is the whole deal), rec. 20120824000077

2000-12-26: transfer from Lspi Exchange Corp to Private party (non-market transfer), rec. 20001227000364

1995-07-27: $534,100 from Private party to Private party, rec. 199507312076

Source: King County recorded sales extract; buyer and seller shown only when a company or organization. Individual names are withheld.

Value over time

Solid line: county appraised value per King County tax rolls. Shaded range: our modeled estimate for each year, built from recorded arm's-length sales in the building's segment; years without enough sales stay unmodeled. Dots: recorded arm's-length sales. Not an appraisal. How this estimate works.

Land, site, and value history

Assessed value moved from $5,179,000 (2011) to $13,753,000 (2026), up 166% over 15 years, per county tax rolls. The 2026 roll splits $13,753,000 into $1,542,500 land and $12,210,500 improvements.

Zoning: NC3P-95 (M) (per King County)

Lot: 9,641 sq ft

Nuisance flags: Traffic noise

Water: Water District (per King County)

Sewer: Public (per King County)

Access: Public

Street surface: Paved

Floor and use mix: Apartment 38,792 SF; Basement, Parking 11,286 SF; Retail Store 6,338 SF; Restaurant, Table Service 1,359 SF (county building sections)

County districts report (schools, fire, sewer, council; on kingcounty.gov)

Permit history

2025-06-13: Remodel, declared value $80,000 (Screened), permit 7086240-CN

2023-05-31: Electrical, declared value $2,500 (Screened), permit 6967532-EL

2023-05-30: Other, declared value $1,775 (Screened), permit 6966946-RF

2023-03-28: Other, declared value $1,000 (Screened), permit 6955254-RF

2023-03-02: Remodel, declared value $100,000 (Screened), permit 6874834-CN

2023-02-09: Remodel, declared value $85,000 (Screened), permit 6931369-CN

2015-03-26: Remodel, declared value $50,000 (Screened), permit 6464005

2014-04-04: Remodel, declared value $750,000 (Complete), permit 6359336

2003-08-01: Building, New, declared value $4,141,000 (Complete), permit 736882

2002-09-27: Accessory, New, declared value $7,000 (Complete), permit 730897

Source: King County permit records (newest first).