Seattle, WA 98109 554 Prospect Street
$1,950,000
14 more
Presented By: SJA Real Estate and NWMLS
- MLS# 2380847
- 05/23/2025
Disclaimer: The information contained in this listing has not been verified by kvCORE WordPress Staging and should be verified by the buyer.
SQFT • 5,656
Home Details
Located in the heart of Queen Anne, 554 Prospect offers a rare opportunity to own a fully-renovated five-unit building in one of Seattle’s most desirable neighborhoods. The unit mix includes one studio, two 2-bedrooms, and two 2-bedroom + den layouts, each upgraded in a 2013 studs-out renovation. Modern amenities include in-unit laundry and private storage units. Walkable to Seattle Center, the Space Needle, and vibrant retail, with easy access to Downtown, South Lake Union, and Hwy 99. This charming asset blends historic character with strong income potential in a highly walkable, high-demand rental market.
Presented By: SJA Real Estate and NWMLS
Interior Features for 554 Prospect Street
Bedrooms
Bedrooms Possible0
Bedrooms Upper
Bathrooms
Baths Full Upper0
Baths Half Upper
Baths Three Quarter Upper
Other Interior Features
Air Conditioning Y/NNo
Fireplace Y/NNo
FlooringHardwood, Carpet
Heating Y/NYes
Power Production TypeElectric
Total Fireplaces
Total Stories2
General for 554 Prospect Street
AmenitiesBasement, Storage
Building Area UnitsSquare Feet
Cap Rate4.9
Carport Spaces
Carport Y/NNo
CitySeattle
CoolingNone
CountyKing
DirectionsFrom I-5, take exit 167 toward Mercer St. Continue on Mercer, turn right on 5th Ave N, then left on Taylor Ave N. Turn right on Prospect St. 554 Prospect is on the left in Queen Anne.
Electric Expense
Elementary SchoolBuyer To Verify
Fuel Expense
HOANo
HOA Fee$
HeatingForced Air
High SchoolBuyer To Verify
High School DistrictSeattle
Insurance Expense3410
Leasable Area3977
Listing TermsCash Out, Conventional
Lot Size Square Feet3813
Lot Size UnitsSquare Feet
MLS Area700 – Queen Anne/Magnolia
Middle/Junior High SchoolBuyer To Verify
ModificationTimestamp2025-08-29T23:28:11.051Z
NWM_ShowMapLinkY
Net Operating Income96099
New ConstructionNo
Number Of Units Total5
Open Parking Spaces0
PossessionClosing, Subject to Tenant Rights
Possible UseMulti-Family
Property ConditionVery Good
Property Style55 – 5-9 Units
Property SubtypeMulti Family
Property TypeResidential Income
Public RemarksLocated in the heart of Queen Anne, 554 Prospect offers a rare opportunity to own a fully-renovated five-unit building in one of Seattles most desirable neighborhoods. The unit mix includes one studio
RoofComposition
Senior Community Y/NNo
SewerSewer Connected
Special Listing ConditionsNone
Standard StatusActive
StatusActive
Structure TypeMulti Family
Subdivision NameQueen Anne
Tax Annual Amount14716
Tax Year2024
Units Below Gradefalse
Units In Building Total5
ViewTerritorial
Water CompanySPU
Water Sewer Garbage8725
Year Built1909
Zoning DescriptionMulti-Family
Exterior for 554 Prospect Street
Building Area Total5656
Covered Spaces
Exterior AmenitiesWood Products
Foundation DetailsPoured Concrete
Irrigation Water Rights Y/NNo
Lot FeaturesCurbs, Paved, Sidewalk
Lot Number8
Lot Size Acres0.0875
Parking Uncovered Spaces0
Total Parking0
Water SourcePublic
Waterfront Y/NNo
Additional Details
Price History
Schools
High School
Buyer To Verify High School
Middle School
Buyer To Verify Middle School
Elementary School
Buyer To Verify Elementary School
Josh QA1
REALTOR ® SRES ®