1723 Summit Ave, Seattle, WA 98122

Multifamily · Seattle · Seattle-Bellevue metro, WA

Imagery suggests: urban multifamily, appears multi-tenant. AI estimate from public imagery. In recent public imagery (2026-06), the building shows signs of deferred maintenance. AI estimate from public imagery; may be outdated.

One of 5,391 reachable multifamily buildings in Seattle. Larger than 69% of multifamily buildings in Seattle (median 9,444 SF), derived from assessor records.

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Building size: 17,723 SF, King County Assessor
Lot size: 5,400 SF, King County Assessor
Year built: 1908, King County Assessor
Stories: 3, King County Assessor
Predominant use: The Mercury (formerly Alhambra), King County Assessor
Units: 44, King County Assessor
Assessed value: $6,173,000, per the King County Assessor (not a market appraisal)
Assessed value per building SF: $348.30/SF, derived from assessor records
Lot coverage: 328%, derived from assessor records
Vintage: pre-war vintage
Zoning: MR (M), King County
County use code: Apartment
Parking (observed): none visible, AI estimate from public imagery

Nearby comparable buildings

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

1403 E Olive Way, Seattle · 0 mi · 7,020 SF · built 1908 · assessed $370.23/SF
1707 Bellevue Ave, Seattle · 0 mi · 17,228 SF · built 1906 · assessed $312.57/SF
1717 Summit Ave, Seattle · 0 mi · 9,766 SF · built 1959 · assessed $319.07/SF
1743 Summit Ave, Seattle · 0 mi · 20,340 SF · built 1916 · assessed $303.64/SF
312 E Olive Pl, Seattle · 0 mi · 20,928 SF · built 1914 · assessed $278.10/SF
1711 Summit Ave, Seattle · 0 mi · 11,008 SF · built 1993 · assessed $357.19/SF

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Sale history and market context

MakeMe Estimate: $5,445,083 (estimated market value), with a likely range of $4,833,531 to $6,211,325 (half of recent verified sales in this segment landed inside that range). Based on 667 verified arm's-length comparable sales (through 2026-05-29). Not an appraisal. How this estimate works. About $124K per unit at the midpoint (44 units).

Last sold: 2022-07-01 for $6,114,000 (recorded arm's-length sale).

Current ownership dates to 2022 (about 4 years) per recorded transfers.

2022-07-01: $6,114,000 from Mercury Investors LLC to Project S45 LLC, rec. 20220701000670

2016-04-08: transfer from Seattle Cre Partners LLC to Mercury Investors LLC (non-market transfer), rec. 20160411001443

2016-03-04: $4,293,850 from Alhambra Apartments Limited Partnership to Seattle Cre Partners LLC, rec. 20160304000418

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 $2,524,000 (2011) to $6,173,000 (2026), up 145% over 15 years, per county tax rolls. The 2026 roll splits $6,173,000 into $2,160,000 land and $4,013,000 improvements.

Zoning: MR (M) (per King County)

Lot: 5,400 sq ft

Rated views: Olympic Mountains, Territorial

Water: Water District (per King County)

Sewer: Public (per King County)

Access: Public

Street surface: Paved

Floor and use mix: Multiple Residence (Low Rise) 17,723 SF (county building sections)

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