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2452 Alki Ave SW 12 Unit Apartment Building $4,496,000 ($374,667/Unit) 4.40% Cap Rate Seattle, WA 98116
Investment Highlights
- Historic brick apartment building constructed in 1928.
- Views of Puget Sound, Elliott Bay, and the Olympic Mountains.
- Located along the popular Alki waterfront recreation corridor.
- Positioned directly across from Alki Beach with waterfront exposure.
- Walkable access to restaurants, cafés, and beachfront amenities.
- Opportunity to acquire a long-standing multifamily asset in West Seattle.
Executive Summary
Alki Beach | Capturing the Pacific Northwest Lifestyle at Its Best
Historic 1928 brick apartment building featuring 12 one-bedroom units, each approximately 825 square feet. Residents enjoy beautiful Puget Sound and Olympic Mountain unobstructed views in one of Seattle's most iconic waterfront neighborhoods.
The Alki Trail provides approximately 2.5 miles of waterfront recreation, perfect for walking, jogging, biking and rollerblading, while the beach offers opportunities for volleyball, relaxing by the water and gathering with friends around the fire pits on summer evenings. Restaurants, neighborhood amenities and public transportation are all close at hand.
This is much more than an investment opportunity. It is an opportunity to own a distinctive property in one of Seattle's most beloved and enduring neighborhoods — combining established multifamily income with the exceptional lifestyle appeal of Alki Beach.
Historic 1928 brick apartment building featuring 12 one-bedroom units, each approximately 825 square feet. Residents enjoy beautiful Puget Sound and Olympic Mountain unobstructed views in one of Seattle's most iconic waterfront neighborhoods.
The Alki Trail provides approximately 2.5 miles of waterfront recreation, perfect for walking, jogging, biking and rollerblading, while the beach offers opportunities for volleyball, relaxing by the water and gathering with friends around the fire pits on summer evenings. Restaurants, neighborhood amenities and public transportation are all close at hand.
This is much more than an investment opportunity. It is an opportunity to own a distinctive property in one of Seattle's most beloved and enduring neighborhoods — combining established multifamily income with the exceptional lifestyle appeal of Alki Beach.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| 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 | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| 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 | $4,496,000 | Apartment Style | Low-Rise |
| Price Per Unit | $374,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.22 AC |
| Cap Rate | 4.40% | Building Size | 13,052 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 13.49 | No. Stories | 3 |
| No. Units | 12 | Year Built | 1928 |
| Property Type | Multifamily | Parking Ratio | 0.5/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | LR2 (M) - Apartments, Townhomes, Et | ||
| Price | $4,496,000 |
| Price Per Unit | $374,667 |
| Sale Type | Investment |
| Cap Rate | 4.40% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 13.49 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 13,052 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1928 |
| Parking Ratio | 0.5/1,000 SF |
| Zoning | LR2 (M) - Apartments, Townhomes, Et |
Amenities
- Smoke Detector
Unit Amenities
- Heating
- Tile Floors
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Tub/Shower
- Views
Site Amenities
- Laundry Facilities
- Picnic Area
- Tenant Controlled HVAC
- Waterfront
- Vintage Building
- Storage Space
- Community-Wide WiFi
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | $2,235 | 825 |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 637200-0080 | Total Assessment | $3,810,000 |
| Land Assessment | $1,938,800 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,871,200 | Tax Year | 2025 Payable 2025 |
Property Taxes
Parcel Number
637200-0080
Land Assessment
$1,938,800
Improvements Assessment
$1,871,200
Total Assessment
$3,810,000
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025 Payable 2025
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Contact the Sale Advisor
2452 Alki Ave SW