13301 56th Ave S 7 Unit Apartment Building $2,084,778 CAD ($297,825 CAD/Unit) 8.70% Cap Rate Seattle, WA 98178

A truly rare riverfront investment opportunity in the heart of Tukwila. Set on approximately 150' of scenic river frontage, this 1.31-acre gated, park-like estate offers immediate income with exceptional long-term redevelopment potential. The property features a 2,400 sq ft single-family residence with 3 bedrooms and 1.75 baths, plus six detached, income-producing cottages thoughtfully arranged across a level, usable lot. The setting is serene and private, with mature landscaping, river views, and a sense of retreat rarely found this close to urban amenities. Current ownership has invested heavily in improvements. Units 1–5 were comprehensively remodeled in 2017, including new plumbing, electrical, roofs, kitchens, bathrooms, flooring, lighting, fixtures, and fresh interior/exterior paint. All six cottages are equipped with mini-split heating and A/C, dedicated storage units, and APP-paid laundry, supporting strong tenant demand and consistent rental income. Covered parking and additional on-site storage enhance both functionality and tenant appeal. Zoned LDR, the property now benefits from new Middle Housing zoning, unlocking substantial expansion and redevelopment options - (buyer to verify). Whether held as a cash-flowing asset or repositioned for future development, the upside is compelling. Ideal for owner-occupants seeking supplemental income, 1031 exchange? builder/developer? This is a turnkey investment today with redevelopment possibilities for tomorrow.