2312 3rd Ave, Seattle, WA 98121

Multifamily · Seattle · Seattle-Bellevue metro, WA

Imagery suggests: urban apartment building, 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 AI estimate from public imagery; may be outdated.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 98% of multifamily buildings in Seattle (median 9,444 SF), derived from assessor records.

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Building size: 203,940 SF, King County Assessor
Lot size: 25,440 SF, King County Assessor
Year built: 2008, King County Assessor
Stories: 7, King County Assessor
Predominant use: Moda Apts, King County Assessor
Units: 251, King County Assessor
Assessed value: $71,992,000, per the King County Assessor (not a market appraisal)
Assessed value per building SF: $353.01/SF, derived from assessor records
Lot coverage: 802%, derived from assessor records
Vintage: 2000s vintage
Zoning: DMR/R 145/65, King County
County use code: Apartment(Mixed Use)
Construction (observed): masonry, AI estimate from public imagery
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.

2321 4th Ave, Seattle · 0 mi · 21,284 SF · built 1918 · assessed $355.90/SF
303 Battery St, Seattle · 0 mi · 90,208 SF · built 2022 · assessed $324.57/SF
304 Bell St, Seattle · 0.1 mi · 18,300 SF · built 1916 · assessed $296.07/SF
206 Bell St, Seattle · 0.1 mi · 116,049 SF · built 2012 · assessed $395.72/SF
2225 4th Ave, Seattle · 0.1 mi · 91,600 SF · built 1978 · assessed $191.68/SF
2401 3rd Ave, Seattle · 0.1 mi · 167,344 SF · built 2018 · assessed $310.67/SF

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Sale history and market context

MakeMe Estimate: $68,133,729 (estimated market value), with a likely range of $62,233,649 to $70,314,568 (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 $271K per unit at the midpoint (251 units).

Last sold: 2011-06-15 for $49,424,700 (recorded arm's-length sale).

Current ownership dates to 2011 (about 15 years) per recorded transfers.

2011-06-15: $49,424,700 from 2312 LLC to Eqr-Moda I LLC+Eqr-Moda II LLC, rec. 20110615001679

2007-09-25: transfer from 2312 LLC to Seattle City of (non-market transfer), rec. 20071003001614

2006-08-22: $8,725,000 from 3rd & Battery LLC to 2312 LLC, rec. 20060825001221

2 administrative transfers (no consideration), 1996 to 1999

1995-12-28: $1,450,000 from Private party to Private party (non-market transfer), rec. 199512290539

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 $36,579,000 (2011) to $71,992,000 (2026), up 97% over 15 years, per county tax rolls. The 2026 roll splits $71,992,000 into $16,536,000 land and $55,456,000 improvements.

Zoning: DMR/R 145/65 (per King County)

Lot: 25,440 sq ft

Rated views: Olympic Mountains, Seattle skyline, Puget Sound

Water: Water District (per King County)

Sewer: Public (per King County)

Access: Public

Street surface: Paved

Floor and use mix: Apartment 136,649 SF; Basement, Parking 60,757 SF; Retail Store 6,534 SF (county building sections)

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

Permit history

2024-10-07: Electrical, declared value $5,000 (Screened), permit 7049751-EL

2023-08-21: Electrical, declared value $15,000 (Screened), permit 6981911-EL

2023-05-08: Electrical, declared value $2,500 (Screened), permit 6963382-EL

2023-02-09: Other, declared value $1,200 (Screened), permit 6946969-RF

2019-05-15: Remodel, declared value $10,000 (Complete), permit 6691287-CN

2016-12-29: Remodel, declared value $156,973 (Complete), permit 6540953

2012-01-06: Remodel, declared value $200,000 (Screened), permit 6303064

2007-10-13: Building, New, declared value $16,288,537 (Complete), permit 6073125

2005-10-13: Building, New, declared value $16,288,537 (Complete), permit 6073125

2001-05-17: Other, declared value $13,708,107 (Complete), permit 720712

Source: King County permit records (newest first).