Property Details

1788 Alki Ave SW

Seattle, WA 98116

$3,250,000

Available

CBA# 710465 courtesy of CBA Listing firm: Kidder Mathews

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Commercial

Property Type

6,867

Bldg Sq Ft

Units

4.00%

Cap Rate

1946

Year Built

Property Overview

Rare opportunity to acquire a 6-unit waterfront multifamily asset in one of West Seattle’s most iconic locations. Situated on Alki Ave SW, this property offers unobstructed Puget Sound and Olympic Mountain views just steps from Alki Beach, the Alki Trail, dining, and neighborhood amenities. The property consists of 2 buildings with a strong unit mix, including spacious renovated units averaging approximately 1,200 SF, in-unit laundry, and off-street parking for 8-10 cars. Located on a 12,000 SF LR2(M) zoned lot, the asset presents multiple value-add angles including continued rent growth, long-term hold potential, and possible future redevelopment optionality. Current rents provide upside with renovated units and a premier location that continues to drive strong tenant demand. An irreplace