1822 S King St
Fully renovated fourplex in Seattle’s desirable Central District
Marketing description
This well-located fourplex presents a compelling opportunity to acquire a turnkey multifamily asset in Seattle’s highly desirable Central District. The property benefits from an outstanding urban setting with a Walker’s Paradise walk score of 94, placing residents within easy reach of Downtown Seattle, major hospitals, neighborhood restaurants and shops, and convenient transit options.
Constructed in 1988 and with a full-gut renovation in 2001, the building features modern systems, updated siding, and upgraded exterior stairs. The property offers an attractive and efficient unit mix consisting of three one-bedroom units and one two-bedroom unit, appealing to a wide range of renters seeking quality housing in a central location. The upper units each have two operable skylights and views of Downtown Seattle, the Olympics, and the Stadium.
Each unit has been fully renovated with contemporary finishes, including updated kitchens and bathrooms, and the convenience of in-unit laundry. Three of the four units also offer dishwashers. Each unit has its own private patio, providing desirable outdoor space rarely found in similar properties. Additional amenities include four off-street parking spaces, further enhancing tenant appeal in this walkable neighborhood.
Notably, the property has demonstrated success as a short-term rental, with one of the one-bedroom units currently furnished and achieving stable income diversification. This presents a proven model for additional income generation across other units, while also offering flexibility for a future owner to pursue a mix of short-term and long-term rental strategies.
With strong in-place operations, additional upside through the implementation of utility bill-backs, and a proven alternative short-term rental income strategy, the property offers investors both stability and future income growth potential in one of Seattle’s most sought-after neighborhoods.
Investment highlights
Excellent location in Seattle’s desirable Central District
Walker’s Paradise walk score of 94 – close to Downtown Seattle employers, a mile from the major hospitals in the “Pill Hill” neighborhood, 1.25 miles from Lumen Field, less than 2 miles from Pike Place Market, and a half mile from access to Interstates 5 and 90
Walking distance from several modes of public transit – 0.1 mile from the Jackson Street bus lines, 0.4 mile from the First Hill Streetcar, 0.5 mile from the new Judkins Park light rail station (opened March 2026), and a mile from King Street Station’s regional rail line
Fully renovated units as of 2020 including updated kitchens and baths, in-unit laundry, dishwashers, and digital Wi-Fi locks; Fully renovated down to studs in 2001 including all new services, seismic, siding, and roof; Originally constructed in 1988
Excellent unit mix of three 1-bedroom and one 2-bedroom units
Beautiful landscaping and gardens including private patio and raised planters for each unit, and an edible garden with cherries, plums, gooseberries, and jasmine
Four off-street parking spaces (one/unit) in addition to easy, non-permitted street parking
Exceptional historical occupancy – Near zero percent vacancy for the last 5 years and 5+ year tenants in two units and one fully booked furnished STR
Extremely low operating costs at ±20%
Fiber available at building
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