Property Details
3015 Alki Avenue SW
Seattle, WA 98116
$4,500,000
Active
Photo Not Available
Schedule a Showing
Select your date preference
Request More Info
1 / 0
Property Overview
The Dolphin is an iconic 8-unit waterfront apartment building prominently situated along the shores of Alki Beach. Meticulously maintained and extensively upgraded, this rare investment opportunity features approximately 65 feet of bulkheaded Puget Sound frontage with sweeping water and Olympic Mountain views. Significant improvements include a complete exterior refit with brick & stucco finishes, marine-grade stainless steel components, fiberglass decks, & an 80-mil PVC roof membrane. Ownership includes primary & secondary tidelands together with boat buoy rights—an increasingly rare waterfront amenity. Distinguished by its signature landscaping & landmark presence along the Alki shoreline, The Dolphin offers a unique combination of quality, location, & long-term investment potential. Conveniently located near Alki Point Lighthouse, waterfront recreation, dining, & neighborhood amenities. A rare opportunity to acquire a legacy-quality waterfront asset in one of Seattle's most sought-after coastal locations. First time on the Market in 30 years! (Rents are extremely below market with HUGE upside income potential)
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
King
Neighborhood
Alki
Listed
Jun 23, 2026
Structure Type
Multi Family
Parcel Number
0148000814
Tax & HOA
Annual Property Tax
$25,560 (2025)
Est. Monthly Tax
$2,130/mo
Financial Summary
Cap Rate
2.90%
Net Operating Income
$130,096
Gross Scheduled Income
$205,020
Gross Rent Multiplier
22.00
Total Expenses
$74,924
Building & Use
Building Sq Ft
7,239
Leasable Area
6,350 sqft
Total Units
8
Lot Size
15,830 sqft
Year Built
1958
Exterior & Lot
Lot Size
0.36 sqft
Year Built
1958
Exterior Materials
Brick, Stucco
Sewer
Sewer Connected
Water Source
Public
Lot Features
Curbs, Paved, Sidewalk
Exterior Features
Brick, Stucco
Community & Access
Directions
Apartment building located at 3015 Alki Avenue SW. Waterfront side of the street.
Location
City
Seattle
County
King
Coordinates
47.57770, -122.41665
Additional Information
Tax Year
2025
Annual Taxes
$25,560
Possession
Array
Based on information submitted to the MLS GRID as of June 23, 2026 10:15 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
