3220 81st Pl SE, Mercer Island, WA 98040
Multifamily · Mercer Island · Seattle-Bellevue metro, WA
One of 26 reachable multifamily buildings in Mercer Island. Larger than 23% of multifamily buildings in Mercer Island (median 25,665 SF), derived from assessor records.
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- Building size
- 9,843 SF, King County Assessor
- Lot size
- 19,602 SF, King County Assessor
- Year built
- 2014, King County Assessor
- Stories
- 3, King County Assessor
- Predominant use
- 6-Unit Apt Bldg, King County Assessor
- Units
- 6, King County Assessor
- Assessed value
- $3,574,000, per the King County Assessor (not a market appraisal)
- Assessed value per building SF
- $363.10/SF, derived from assessor records
- Lot coverage
- 50%, derived from assessor records
- Vintage
- 2010s vintage
- Zoning
- MF-2, King County
- County use code
- Apartment
Nearby comparable buildings
Same building type, by distance. Assessor facts only; not an opinion of value.
- 3045 81st Pl SE, Mercer Island · 0.1 mi · 8,475 SF · built 1959 · assessed $456.17/SF
- 3059 Island Crest Way, Mercer Island · 0.1 mi · 16,080 SF · built 1959 · assessed $363.56/SF
- 3050 81st Pl SE, Mercer Island · 0.1 mi · 18,300 SF · built 1959
- 3043 Island Crest Way, Mercer Island · 0.1 mi · 5,952 SF · built 1960 · assessed $326.11/SF
- 3030 81st Pl SE, Mercer Island · 0.1 mi · 8,460 SF · built 1959
- 3021 81st Pl SE, Mercer Island · 0.1 mi · 10,148 SF · built 1958 · assessed $274.44/SF
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Sale history and market context
MakeMe Estimate: $3,700,493 (estimated market value), with a likely range of $3,284,881 to $4,221,233 (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 $617K per unit at the midpoint (6 units).
Last sold: 2016-10-06 for $3,197,000 (recorded arm's-length sale).
Current ownership dates to 2016 (about 10 years) per recorded transfers.
- 2016-10-06: $3,197,000 from Mercer Island CO-Investment LLC to Crest Apartment LLC, rec. 20161012001551
- 2011-09-14: transfer from Resource Transition Consultants LLC to Mercer Island CO-Investment LLC (non-market transfer), rec. 20110914002065
- 2007-04-04: $5,495,000 from Spaunhurst Properties LLC to CW III Investments LLC (part of a 2-parcel sale; price is the whole deal), rec. 20070412001212
- 2005-07-15: $3,400,000 from Private party to Spaunhurst Properties LLC (part of a 2-parcel sale; price is the whole deal), rec. 20050726002517
- 3 administrative transfers (no consideration), 1999 to 2003
Source: King County recorded sales extract; buyer and seller shown only when a company or organization. Individual names are withheld.
Land, site, and value history
Assessed value moved from $784,000 (2011) to $3,574,000 (2026), up 356% over 15 years, per county tax rolls. The 2026 roll splits $3,574,000 into $1,481,900 land and $2,092,100 improvements.
- Zoning: MF-2 (per King County)
- Lot: 19,602 sq ft
- Rated views: Territorial, Lake Washington
- Water: Water District (per King County)
- Sewer: Public (per King County)
- Access: Public
- Street surface: Paved
- Floor and use mix: Apartment 6,643 SF; Garage, Storage 3,200 SF (county building sections)
- County districts report (schools, fire, sewer, council; on kingcounty.gov)