Property Details

1300 14th Ave S

Seattle, WA 98144

$3,150,000

Pending

CBA# 708140 courtesy of CBA Listing firm: Marcus & Millichap, Inc.

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Commercial

Property Type

12,156

Bldg Sq Ft

Units

5.00%

Cap Rate

1964

Year Built

Property Overview

We present 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 7.69% 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.