2014 SW 152nd St · Burien, WA 98166

$1,750,000

135 bd · 85.5 ba · 5,858 sqft · MultiFamily public records · 85 Days on market

Built 1962 10,722 sqft lot

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +29.9/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.9/10.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 9 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Seahurst 9 is a solid 9-unit apartment building on sale for the first time in 30 years. Located in the desirable Seahurst neighborhood of Burien, this 1962-build sits on a spacious 10,722 SF lot zoned MU-1, supporting mixed-use redevelopment with a 55-ft height limit. Ideal for multi-family, townhomes, retail, restaurants, or professional offices, offers versatile potential in a market with low competition and rising rents. With 1-, 2-, & 3-bed units averaging 651 SF, featuring hardwood floors, copper plumbing, and durable brick exterior, the site combines immediate rental income with long-term growth opportunities. Seller financing available or cash out—perfect for investors see

Key facts

• Spacious lot
• Zoned mu-1
• 55-ft height limit

Tags

• SPACIOUS LOT
• ZONED MU-1
• MIXED-USE REDEVELOPMENT
• 55-FT HEIGHT LIMIT
• IMMEDIATE RENTAL INCOME
• LONG-TERM GROWTH OPPORTUNITIES

Property features AI

Finance

• Other: Nine units in building; units below grade: none; vacancy rate: 5%; Building area total: 8,034 sq ft; Site features include fenced-partially
• Financial info: Gross scheduled income: $165,900; Gross adjusted income: $157,605; Total monthly income: $13,825; Total expenses: $55,776; Insurance expense: $7,200; Other expenses: $18,370; Net operating income: $101,829; Gross rent multiplier: 10.55; Listing terms: Assumable, Cash Out, Conventional

Exterior

• Parking: 11 uncovered parking spaces
• Security: Partially fenced perimeter
• Utilities: Electric energy source; Sewer connected; Water/sewer/garbage account information on file
• Home design: Multi-family residential income property; 5-9 unit style code; Two stories; Slab foundation
• Construction: Brick and wood construction; Composition roof
• Exterior features: Partially fenced site; Paved lot with sidewalk; Brick and wood exterior

Interior

• Kitchen: Kitchens included in each unit (standard apartment kitchens)
• Bedrooms: Nine units total: one 3-bedroom unit; three 2-bedroom units; five 1-bedroom units
• Flooring: Hardwood; Laminate
• Bathrooms: All units have 1 bath except one unit with 1.5 baths
• Heating & cooling: Baseboard heating; No central air
• Interior features: Hardwood and laminate flooring; Basement; Coin-operated laundry; Storage; Partially fenced (security)
• Laundry & utility: Coin-operated laundry on site

What this means for you Summary

Snapshot

• This is a 9 × 15-bed/?-bath units multifamily listed at $1.75M.

Deal economics

• At list price, monthly cash flow is $6k ($78k/yr) — positive. Per door: $718/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($23k rent vs $1.75M).
• Recommended offer: $1.65M (6.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 2.1% in Burien — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 79/100 on livability (#115 in WA, #2,330 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools D+, crime F, cost of living F.
• Highline School District (suburban): math 36% / reading 49% proficiency, ranked #200 of 291 in WA (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+4.0%/yr); 106 active listings in the ZIP; high-income renter base; 10,555 units permitted in King County in 2024 (7,119 in 5+ unit buildings).
• At $22,611/mo this rent would consume 236% of the median local household income ($115k/yr) (locally 577% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $12k of loan paydown is wiped out by about $52k of value loss. Plan a longer hold.
• King County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $490k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($1.65M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $325k; list at $1.75M implies a 439% gain — meaningful room to come down on a strong offer.

Recommended offer $1,645,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.29% ✓
• Cap rate: 10.72%
• Cash-on-cash: 15.83%
• DSCR: 1.70
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.96% rent growth · sell at horizon

5-year hold

• IRR: 7.7%
• Equity multiple: 1.31×
• Total profit: $149,964
• Equity at exit: $260,931

10-year hold

• IRR: 17.8%
• Equity multiple: 2.54×
• Total profit: $752,472
• Equity at exit: $151,308

Cash invested: $490,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 28 Tenant-Leaning
• State Washington: 28 Tenant-Leaning · D+8
• County: — inherits STATE
• City: — inherits STATE

Just-cause statewide (2021); Seattle layers rent control restrictions + relocation assistance; very tenant-friendly.

Methodology + full state rankings →

ZIP-level market 98166

• Rents YoY: 4.0%
• Active inventory: 106
• Price-to-rent: 58.0×

Monthly cashflow live

• Estimated rent: $22,611 medium
• Mortgage (P&I): −$9,177
• Tax from tax record: −$1,494 /mo · $17,931/yr
• Insurance: −$729
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,748
• Net cashflow: $6,462

Break-even live

Break-even rent $14,431

Max offer price $1,750,000

Occupancy floor 66%

9-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 9× units	15	—	$22,608
Total (9 units)			$22,611

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $437,500
• Closing costs: $52,500
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-01
   status Pending
2. 2026-02-05
   listed $1,750,000 Active
3. 1995-07-18
   soldstatus $324,950
4. 1985-05-30
   soldstatus $60,000
5. 1982-04-15
   soldstatus $260,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WA · Resets to sale price

• Current annual tax: $17,931 · $1,494/mo
• Projected year-2 tax: $17,931 · $1,494/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥86°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 8 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $271,332
• − Mortgage interest: −$98,027
• − Property taxes: −$17,931
• − Insurance: −$8,750
• − Repairs & maintenance: −$21,707
• − Management: −$21,707
• − Depreciation: −$50,909
• Taxable income: $52,302
• Est. tax owed @ 24.0%: −$12,552
• After-tax cash flow: $64,993/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Highline School District
• NCES district ID: 5303540
• Math proficiency: 36% ▼ -4.00%
• Reading proficiency: 49% ▼ -1.00%
• Median HH income: $52,697
• Composite: 39.12/100
• National rank: #8245
• State rank: #200 of 291 in WA

Livability — Burien

• Score: 79/100
• State rank: #115
• US rank: #2330

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment A Housing A Health & safety A+ User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burien, WA
• County: King County · 2,251,916 people
• City population: 60,370
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 22,082
• Household income: $114,969
• Rent vs Own: 32.1% rent · 67.9% own
• Severe rent burden: 577.0

Population outlook (King County) Hauer SSP2

• Today (2025): 2,576,485 people
• By 2030: 2,803,316 · +8.8%
• By 2040: 3,255,921 · +26.4%
• By 2050: 3,706,444 · +43.9%
• By 2075: 4,746,063 · +84.2%
• By 2100: 5,407,730 · +109.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 12% Two or more races 11% Asian 8% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 5% Slovak 3% Lithuanian 3%
• Foreign-born: 13% · Canada, Vietnam, South Korea
• Languages at home: 85% English-only · Spanish 7% Other Indo-European 1% Vietnamese 1%

Political lean MEDSL · King

• 2024 margin: Solid D (+51.7) · D 74.2% · R 22.5% · Other 3.4%
• 2008→2024 swing: +9.6pp toward D · 2008: 42.1pp · 2024: 51.7pp
• All cycles: 2024: D+51.7 2020: D+52.7 2016: D+50.4 2012: D+39.9 2008: D+42.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -854.15%
• Current HPI: 332.6728
• Rent YoY: ▲ 3.96%
• Metro: Seattle-Tacoma-Bellevue, WA
• State GDP YoY: ▲ 4.65%
• F500 in state: 22

Industry mix (Fortune 500 HQ in WA)

Industry	F500 HQs	Revenue
▸Retail	2	$269B
▸Technology / Retail	1	$638B
▸Technology	1	$245B
▸Telecommunications	1	$38B
▸Food / Beverage	1	$36B
▸Automotive / Trucks	1	$34B

Price history

+573.1% since first listed

5 events — show timeline

• 2026-05-01 Pending — NWMLS as Distributed by MLS Grid
• 2026-02-05 Listed $1,750,000 NWMLS as Distributed by MLS Grid
• 1995-07-18 Sold (Public Records) $324,950 Public Records
• 1985-05-30 Sold (Public Records) $60,000 Public Records
• 1982-04-15 Sold (Public Records) $260,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $17,931 · -3.7% YoY. Source: county tax records.