$6,500,000

0 Beds 0 Baths 0 SQFT 0.22 Acres

Type: Multi-Family

2440 Alki Avenue SW
Seattle, WA 98116

MLS#: 2484395

Presented by: Urban Commercial Partners, LLC and NWMLS

Property Description

Rare opportunity to acquire the Alki Surf Apartments, a trophy waterfront asset in the heart of West Seattle's iconic Alki Beach - one of Seattle's most coveted waterfront corridors with unobstruted west facing views of Puget Sound. First time on the market since the asset was originally developed in 1984. 10 large residential units including (6) 2 bed/2 bath units and (4) 3 bed/2 bath units all with private west-facing balconies. This opportunity offers immediate upside with minimal capital investment. In place rents are approximately 20% below market with additional income growth available through the optimization of utility reimbursement and parking income. Recent Capital Improvements include: New Roof, New Windows, Exterior Paint, New Decks and New Gutters. Must see!

Interior Features

Bedrooms

Bedrooms Upper0

Bathrooms

Baths Full Upper0

Baths Half Upper0

Baths Three Quarter Upper0

Other Interior Features

Air Conditioning Y/NNo

Fireplace Y/NNo

Heating Y/NYes

Power Production TypeElectric

Total Fireplaces0

Total Stories4

General

AmenitiesElevator, Thermal Windows

Building Area Units0 sqft

Cap Rate4.21

Carport Spaces5

Carport Y/NNo

CitySeattle

CoolingNone

CountyKing

DirectionsHeart of Alki Beach - See mapping apps.

Electric Expense0

Energy EfficientThermal Windows

Fuel Expense0

Garage Spaces0

HOANo

HOA Fee$0

HeatingBaseboard

High School DistrictSeattle

Insurance Expense12331

Leasable Area15,300 sqft

Listing TermsCash, Conventional

Living Area0 sqft

Lot Size Square Feet9,694 sqft

Lot Size UnitsSquare Feet

MLS Area140 - West Seattle

NWM_ShowMapLinkY

Net Operating Income273444

New ConstructionNo

Number Of Units Total10

PossessionClosing

Property ConditionVery Good

Property Style56 - 10+ Units

Property SubtypeMulti Family

Property TypeResidential Income

Public RemarksRare opportunity to acquire the Alki Surf Apartments, a trophy waterfront asset in the heart of West Seattle's iconic Alki Beach - one of Seattle's most coveted waterfront corridors with unobstruted w

RoofComposition

Senior Community Y/NNo

SewerSewer Connected

Special Listing ConditionsNone

Standard StatusActive

StatusActive

Structure TypeMulti Family

Subdivision NameAlki

Tax Annual Amount$45,450

Tax Year2025

Units Below Gradefalse

Units In Building Total10

ViewSound

Water Sewer Garbage19114

Waterfront FeaturesSound

Year Built1984

Exterior

Building Area Total0 sqft

Covered Spaces5

Exterior AmenitiesStucco

Irrigation Water Rights Y/NNo

Lot Size Acres0.2225

Parking Uncovered Total11

Waterfront Y/NYes

Additional Details

Price History

Schools

High School N/A

Elementary School N/A

Middle School N/A

Similar Properties

$6,500,000

0 Beds 0 Baths 0 SQFT 0.22 Acres

Type: Multi-Family

2440 Alki Avenue SW
Seattle, WA 98116

MLS#: 2484395

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Property

$6,500,000

2440 Alki Avenue SWSeattle, WA 98116

Property Description

Interior Features

Bedrooms

Bathrooms

Other Interior Features

General

Exterior

Additional Details

Price History

Schools

Similar Properties

$6,500,000

2440 Alki Avenue SWSeattle, WA 98116

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2440 Alki Avenue SW
Seattle, WA 98116

2440 Alki Avenue SW
Seattle, WA 98116