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Charlemagne 1300 14th Ave S 14 Unit Apartment Building $3,150,000 ($225,000/Unit) 6.38% Cap Rate Seattle, WA 98144
Investment Highlights
- Renovated Asset Including Electrical, Plumbing, & Sewer
- Upside in Stabilization to Achieve 9.75% COC Return
- Opportunity to Add 3 Additional Units
- 6.38% Current Cap Rate, Producing 7.73% COC Return
- 10 Minute Drive From Seattle Business District
Executive Summary
Marcus & Millichap presents the Charlemagne Apartments, a 14-unit community in Seattle’s Beacon Hill neighborhood. Built in 1964, the property has seen extensive system upgrades—including plumbing, sewer lines, electrical panels, and boiler—resulting in a well-maintained asset with limited near-term capital needs. Twelve of the fourteen units have been renovated with modern finishes, providing strong in-place performance with remaining upside.
Offered at a 6.38% cap rate, the property delivers solid cash flow from day one with an estimated 7.73% cash-on-cash return. Additional value can be created by completing the final two unit renovations, pushing rents to market, and potentially adding 2–3 units in the basement, driving higher NOI and long-term appreciation.
Offered at a 6.38% cap rate, the property delivers solid cash flow from day one with an estimated 7.73% cash-on-cash return. Additional value can be created by completing the final two unit renovations, pushing rents to market, and potentially adding 2–3 units in the basement, driving higher NOI and long-term appreciation.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,150,000 | Building Class | C |
| Price Per Unit | $225,000 | Lot Size | 0.22 AC |
| Sale Type | Investment | Building Size | 12,156 SF |
| Cap Rate | 6.38% | Average Occupancy | 100% |
| No. Units | 14 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1964/2024 |
| Property Subtype | Apartment | Parking Ratio | 1.15/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | L3 | ||
| Price | $3,150,000 |
| Price Per Unit | $225,000 |
| Sale Type | Investment |
| Cap Rate | 6.38% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 12,156 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1964/2024 |
| Parking Ratio | 1.15/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | L3 |
Amenities
Unit Amenities
- Dishwasher
- Microwave
- Washer/Dryer
- Granite Countertops
- Refrigerator
- Oven
- Carpet
- Vinyl Flooring
Site Amenities
- Laundry Facilities
- Security System
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 13 | $1,595 | 462 - 579 |
| 2+2 | 1 | $2,500 | 1,185 |
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Walk Score®
Very Walkable (74)
Transit Score®
Excellent Transit (85)
Property Taxes
| Parcel Number | 713330-0055 | Total Assessment | $2,638,000 (2024) |
| Land Assessment | $1,241,200 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,396,800 (2024) | Tax Year | 2025 |
Property Taxes
Parcel Number
713330-0055
Land Assessment
$1,241,200 (2024)
Improvements Assessment
$1,396,800 (2024)
Total Assessment
$2,638,000 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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