Best Investment Properties in Burien Washington: Multi-Family Homes and Rental Income Potential

Burien has quietly become one of the most compelling rental markets in South King County, and 2026 is shaping up to be a particularly interesting year for investors. With softening single-family prices, a deep renter pool, and zoning that increasingly favors density, this Puget Sound city of roughly 52,000 residents is delivering the kind of fundamentals that cash-flow investors love. Whether you're a first-time landlord looking at a duplex or a seasoned operator eyeing a small apartment building, investment properties in Burien Washington deserve a serious look right now.

Why Burien Is a Standout Market for Real Estate Investors in 2026

Location is doing a lot of heavy lifting here. Burien sits along the Puget Sound coastline just south of Seattle, and its growing appeal is fueled by its scenic waterfront, diverse community, and ongoing revitalization efforts. Located just 10 miles south of Seattle, the city is known for its diverse population and community-oriented culture, with scenic views of the Puget Sound, Mount Rainier, and the Olympic Mountains, plus outdoor attractions like Seahurst Park. Translation: tenants want to live here, and they're willing to pay for it.

The investor case is also supported by the price spread between Burien and its neighbors. A key advantage of the Burien market is the availability of relatively affordable commercial and residential properties compared to nearby cities — you can still find a mix of multifamily properties and single-family homes that offer better value per square foot than in Seattle or Bellevue. For investors priced out of West Seattle or Ballard, Burien offers similar proximity to jobs at a noticeably lower entry point.

Current market data tells the same story. The average Burien home value is $656,381, down 1.4% over the past year, with homes going pending in around 10 days. That softening creates leverage. Median home values at $642,350 — down 6.6 percent from the previous month — give flexibility for purchases and repositioning, which may mean better returns for investors buying this season.

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The Rental Demand Picture: Numbers That Work for Landlords

If you're underwriting a Burien deal, the tenant demand fundamentals are arguably the most important variable — and they look strong. With 43 percent of households renting and a blend of owner occupants (57 percent) and renters, the city has a robust demand for well located and updated units. A 43% renter base in a city this size means a deep, durable tenant pool.

Distressed inventory is also creating opportunity for value-add investors. Of the most recent sales, four were distressed, with a median price per square foot of $359, and well-timed purchases and renovations can turn these listings into attractive rentals ready to meet the city's growing demand. Combine that with broader regional momentum — King County's permit growth (volume up 5 percent, value up 8 percent) brightens the outlook for property upgrades and conversions — and the rehab-to-rent playbook is very much alive in Burien.

Sellers are also more flexible than they were a year ago. In the last 30 days, homes had a median sale-to-list-price ratio of 97.5%, just 14.29% of homes sold above list price, and 46.43% of listings dropped in price. Nearly half of all listings cutting price is the kind of buyer's-market signal that disciplined investors wait years to see in King County.

Multi-Family Inventory: What's Actually Available Right Now

The multi-family pipeline in Burien is varied and active. There are currently 6 multi-family homes for sale, with prices ranging from $565,000 to $3,175,000, providing options across budgets. That spread covers everything from a duplex house-hack to a full apartment building.

A few representative deals on the market illustrate the opportunity set:

• Small fourplexes: A 4-plex with spacious units centrally located on a large level corner lot with 18 uncovered parking spaces — all units are 2-Bed, 1-Bath with private patio and washer/dryers, roughly 831-856 sq. ft. The parcel is zoned MU-1 (Multi-use-1), allowing up to 5 stories to be built — a turnkey property with endless long-term potential.
• Mid-size apartment buildings: The Holly Lane Apartments, built in 1967, sit on a 12,846 sqft lot in a peaceful lakeside neighborhood in downtown Burien, comprised of 10 spacious two-bedroom/one-bathroom floor plans averaging 925 sqft, with functional layouts, complete kitchen appliance packages, and private balconies/patios.
• Larger value-add plays: The Casa Apartments is a desirable 12-unit midcentury apartment complex in the walkable Lake Burien neighborhood, with 11 of the 12 large units tastefully updated with new shaker cabinets, quartz counters, stainless appliances, LVP flooring, and washer/dryers.
• Development-ready land: A prime development opportunity featuring two adjacent parcels combining 1.87 acres of versatile land with mixed-use zoning, presenting possibilities for DADU, commercial, or multi-family development, including two existing structures providing immediate income potential.

Zoning is doing investors a real favor here. Several properties carry MU-1 zoning permitting multi-family, townhomes, retail, restaurants, or professional offices with a 55-ft building height limit, opening the door to long-term upzone plays.

Financing Your Burien Investment Property in Today's Rate Environment

You can't talk 2026 cash flow without addressing financing costs. As of mid-May 2026, the national average 30-year fixed mortgage APR sits at 6.56%, according to Bankrate. For investment properties, expect to pay more. As of May 19, 2026, the 30-year fixed rate is 6.593%, meaning investment property mortgage rates would be around 7.093% to 7.593%.

Rates are likely to stay in this neighborhood for a while. The consensus for May to July 2026 is for mortgage rates to remain relatively stable in the low-to-mid 6% range, with occasional wiggles of perhaps 0.2% to 0.5% in either direction. The takeaway: don't wait for a rate miracle. Underwrite to today's numbers, and if rates fall, refinance later.

A few financing options Burien investors should know:

• Conventional loans: For a conventional investment property loan, you'll typically need to put down 15 to 25%.
• House-hack with low-down financing: Several Burien multi-family listings advertise possible FHA/conventional financing from 3.5% down (buyer to verify). Live in one unit, rent the others, and let tenants cover most of your mortgage.
• DSCR loans: Debt-service coverage ratio (DSCR) loans are underwritten based on the income generated by the investment property — useful when your personal DTI is tight but the deal cash-flows on its own.

Best Neighborhoods in Burien for Rental Investment

Not all Burien blocks rent the same. The strongest investor-friendly pockets right now include Olde Burien and the 152nd Street corridor, Seahurst, Lake Burien, Gregory Heights, and Shorewood. Walkability to shops, dining, and Seahurst Park, steps to RapidRide H Line, and minut