128 State St S, Kirkland, WA 98033

Multifamily · Kirkland · Seattle-Bellevue metro, WA

Imagery suggests: mid-rise residential, 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 AI estimate from public imagery; may be outdated.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 188 reachable multifamily buildings in Kirkland. Larger than 90% of multifamily buildings in Kirkland (median 8,700 SF), derived from assessor records.

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Building size: 190,124 SF, King County Assessor
Lot size: 18,400 SF, King County Assessor
Year built: 2007, King County Assessor
Stories: 4, King County Assessor
Predominant use: 123-Unit Apt Bldg, King County Assessor
Units: 123, King County Assessor
Assessed value: $47,552,700, per the King County Assessor (not a market appraisal)
Assessed value per building SF: $250.11/SF, derived from assessor records
Lot coverage: 1033%, derived from assessor records
Vintage: 2000s vintage
Zoning: CBD 3, King County
County use code: Apartment
Construction (observed): wood frame, AI estimate from public imagery
Parking (observed): surface lot, 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.

330 2nd Ave S, Kirkland · 0.1 mi · 29,756 SF · built 1959 · assessed $383.08/SF
460 2nd Ave S, Kirkland · 0.1 mi · 39,851 SF · built 1967 · assessed $340.87/SF
421 Kirkland Ave, Kirkland · 0.1 mi · 7,156 SF · built 1970 · assessed $395.05/SF
431 Kirkland Ave, Kirkland · 0.1 mi · 14,987 SF · built 1995 · assessed $280.51/SF
434 Kirkland Way, Kirkland · 0.1 mi · 301,047 SF · built 2020 · assessed $178.49/SF
407 2nd St S, Kirkland · 0.2 mi · 8,352 SF · built 1958 · assessed $477.61/SF

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Sale history and market context

MakeMe Estimate: $52,551,135 (estimated market value), with a likely range of $48,000,438 to $54,233,203 (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 $427K per unit at the midpoint (123 units).

Current ownership dates to 2023 (about 3 years) per recorded transfers.

2023-03-16: $63,500,000 from 128 State Street LLC to WRPV Xiv 128 State LLC (part of a 2-parcel sale; price is the whole deal), rec. 20230317000004

2007-06-06: $49,915,020 from NW 103 State Street LLC to 128 State Street LLC (part of a 2-parcel sale; price is the whole deal), rec. 20070606001665

2007-04-27: transfer from NW 103 State Street LLC to Kirkland City of (part of a 2-parcel sale; price is the whole deal), rec. 20070514001446

2006-01-23: $1,575,000 from Private party to NW 103 State Street LLC (non-market transfer), rec. 20060127002328

2 administrative transfers (no consideration), 1989 to 2003

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 $22,226,400 (2011) to $47,552,700 (2026), up 114% over 15 years, per county tax rolls. The 2026 roll splits $47,552,700 into $3,864,000 land and $43,688,700 improvements.

Zoning: CBD 3 (per King County)

Lot: 18,400 sq ft

Water: Water District (per King County)

Sewer: Public (per King County)

Access: Public

Street surface: Paved

Floor and use mix: Apartment 133,967 SF; Basement, Parking 56,157 SF (county building sections)

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

Permit history

2024-12-02: Other, declared value $600 (Screened), permit MMF24-09280

2024-09-05: Remodel, declared value $545,000 (Screened), permit BMF24-01393

2024-09-05: Plumbing, declared value $38,450 (Screened), permit PMF24-03426

2024-01-23: Other, declared value $35,000 (Screened), permit MMF24-00099

2024-01-23: Electrical, declared value $2,300 (Screened), permit EMF24-00202

2022-06-06: Electrical, declared value $3,000 (Screened), permit EMU22-04459

2021-03-17: Electrical, declared value $19,058 (Screened), permit ELV21-02026

2020-05-13: Electrical, declared value $15,000 (Screened), permit EMF20-02846

2019-04-24: Electrical, declared value $1,500 (Complete), permit ENR19-02957

2018-10-08: Building, New, declared value $25,000 (Complete), permit BNO18-05533

Source: King County permit records (newest first).