West 9 Apartments 3046 SW Avalon Way 9 Unit Apartment Building $2,450,000 ($272,222/Unit) 5.54% Cap Rate Seattle, WA 98126

INVESTMENT HIGHLIGHTS

  • Great West Seattle Location
  • Major exterior and interior renovations
  • Off-street parking with 9 stalls
  • Turnkey, fully stabilized asset
  • All 1 bedroom units with W/D
  • future redevelopment potential

EXECUTIVE SUMMARY

Turnkey 9 Unit apartment building, well located at the gateway to West Seattle. This vibrant area offers excellent access to all the distinctive and exciting features of West Seattle, while remaining just a short distance from Downtown Seattle and other city attractions. All 1BD/1BTH units with W/D and a private patio or balcony. Unit updates include new flooring, cabinets, quartz counters, stainless steel appliances and fixtures. Exterior updates include new exterior paint, windows/sliders, frosted balcony panels, landscaping, signage, secure cluster mailbox. Excellent opportunity to purchase a fully stabilized asset with income upside and future redevelopment potential in a highly sought-after Seattle neighborhood.

FINANCIAL SUMMARY (ACTUAL - 2024)

ANNUAL ANNUAL PER SF
Gross Rental Income - -
Other Income - -
Vacancy Loss - -
Effective Gross Income - -
Net Operating Income $135,764 $26.29

PROPERTY FACTS

Price $2,450,000
Price Per Unit $272,222
Sale Type Investment
Cap Rate 5.54%
Gross Rent Multiplier 12.05
No. Units 9
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low-Rise
Building Class C
Lot Size 0.17 AC
Building Size 5,164 SF
No. Stories 3
Year Built 1978
Parking Ratio 1.74/1,000 SF
Zoning MR, Seattle

AMENITIES

UNIT AMENITIES

  • Balcony

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
1+1 9 $1,667 574
Walk Score®
Very Walkable (75)

PROPERTY TAXES

  • Listing ID: 35240198

  • Date on Market: 3/24/2025

  • Last Updated:

  • Address: 3046 SW Avalon Way, Seattle, WA 98126