3011 78th Ave SE, Mercer Island, WA 98040

Multifamily · Mercer Island · Seattle-Bellevue metro, WA

One of 29 reachable multifamily buildings in Mercer Island. Larger than 66% of multifamily buildings in Mercer Island (median 20,494 SF), derived from assessor records.

Usable building area
39,742 SF, King County Assessor
County gross area
71,580 SF, King County Assessor
Excluded area
31,838 SF outside primary usable area
Lot size
20,000 SF, King County Assessor
Year built
2004, King County Assessor
Stories
3, King County Assessor
Predominant use
Apartment(mixed Use), King County Assessor
Units
40, King County Assessor
Assessed value
$17,411,000, per the King County Assessor (not a market appraisal)
Assessed value per usable SF
$438.10/SF, derived from assessor records
Usable area / lot
1.99, derived from assessor records
Vintage
2000s vintage
Zoning
TC, King County
County use code
Apartment(Mixed Use)

Nearby comparable buildings

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

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Sale history and market context

MakeMe Estimate: $15.9M (estimated market value), with a likely range of $14.1M to $18.1M (half of recent verified sales in this segment landed inside that range). Based on 8 verified arm's-length comparable sales (through 2026-06-01). Not an appraisal. How this estimate works. About $396K per unit at the midpoint (40 units).

lower confidence: 2 comparable sales within 3 miles; nearest 2.7 mi. Comparable-sale caveat: the estimate is 27% above the $315.20/SF median of the shown comparable sales.

Comparable sales used as evidence

Recorded arm's-length sales of similar buildings nearby; nearer and more recent sales rank first. Buyer and seller names are withheld. Get this data via API.

Last sold: 1996-11-23 for $530,000 (recorded arm's-length sale).

Current ownership dates to 1996 (about 30 years) per recorded transfers.

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

Value over time

$0$10M$20M$30M201120142017202020232026$15.9M$17.4MCounty assessed valueMakeMe Estimate range

Dark line: county assessed value per King County tax rolls. Blue line: our estimate; dashed years are a modeled backcast built from recorded arm's-length sales in the building's segment, not estimates published at the time, and years without enough sales stay unmodeled. The shaded range is the model's measured error band; about half of verified sales in the segment land inside it. Diamonds: recorded arm's-length sales. Not an appraisal. How this estimate works.

Land, site, and value history

Assessed value moved from $8,482,000 (2011) to $17,411,000 (2026), up 105% over 15 years, per county tax rolls. The 2026 roll splits $17,411,000 into $3,800,000 land and $13,611,000 improvements.

Taxes

Permit history

Source: King County permit records (newest first).