554 Prospect St, Seattle, WA 98109

Multifamily · Seattle · Seattle-Bellevue metro, WA

One of 5,391 reachable multifamily buildings in Seattle. Larger than 29% of multifamily buildings in Seattle (median 9,444 SF), derived from assessor records.

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Building size: 5,656 SF, King County Assessor
Lot size: 3,813 SF, King County Assessor
Year built: 1909, King County Assessor
Stories: 2, King County Assessor
Predominant use: 5 Unit Apartment, King County Assessor
Units: 5, King County Assessor
Assessed value: $1,578,000, per the King County Assessor (not a market appraisal)
Assessed value per building SF: $279/SF, derived from assessor records
Lot coverage: 148%, derived from assessor records
Vintage: pre-war vintage
Zoning: LR3 (M), King County
County use code: Apartment

Nearby comparable buildings

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

601 Prospect St, Seattle · 0 mi · 13,735 SF · built 1991 · assessed $259.92/SF
1115 6th Ave N, Seattle · 0 mi · 8,208 SF · built 1964 · assessed $316.15/SF
563 Highland Dr, Seattle · 0 mi · 6,932 SF · built 1955 · assessed $317.66/SF
1010 Taylor Ave N, Seattle · 0.1 mi · 4,724 SF · built 1906 · assessed $330.02/SF
1123 Taylor Ave N, Seattle · 0.1 mi · 15,718 SF · built 1959 · assessed $381.66/SF
609 Prospect St, Seattle · 0.1 mi · 12,238 SF · built 1995 · assessed $271.78/SF

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Sale history and market context

MakeMe Estimate: $1,688,029 (estimated market value), with a likely range of $1,498,442 to $1,925,572 (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 $338K per unit at the midpoint (5 units).

Last sold: 2003-12-30 for $651,000 (recorded arm's-length sale).

Current ownership dates to 2012 (about 14 years) per recorded transfers.

2012-08-01: transfer from Beachworks LLC to 554 Prospect LLC (non-market transfer), rec. 20120904001575

2011-11-29: $1,270,000 from Private party to Private party (part of a 2-parcel sale; price is the whole deal), rec. 20111130002436

2003-12-30: $651,000 from Private party to Private party, rec. 20040102002041

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 $793,000 (2011) to $1,578,000 (2026), up 99% over 15 years, per county tax rolls. The 2026 roll splits $1,578,000 into $819,700 land and $758,300 improvements.

Zoning: LR3 (M) (per King County)

Lot: 3,813 sq ft

Water: Water District (per King County)

Sewer: Public (per King County)

Access: Public

Street surface: Paved

Floor and use mix: Multiple Residence (Low Rise) 5,656 SF (county building sections)

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

Permit history

2012-10-08: Remodel, declared value $75,000 (Complete), permit 6337558

2012-08-21: Building, New, declared value $359,516 (Complete), permit 6294781

2012-06-05: Remodel, declared value $30,000 (Complete), permit 6322832

2012-05-04: Remodel, declared value $800 (Complete), permit 6319549

Source: King County permit records (newest first).