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1815 13th Ave S
Seattle, WA 98144
Beacon Hill Apartments · Multifamily Property For Sale
·
22 Units
Investment Highlights
- True turn-key asset featuring a desirable unit mix of two studios, thirteen 1-bedrooms, and seven 2-bedrooms.
- Current below market rents provide future rental upside, with the added opportunityof a possibleoffice to unit conversion.
- Close proximity to keyemployment hubs, local amenities,& outdoor recreation.
- Well-maintained pride of ownership buildings, provides future investors with current cashflow and peace of mind for key building systems and in unit s
Executive Summary
The Lee & Associates Northwest | Multifamily Team is pleased to present the exclusive listing of Beacon Crest, a 22-unit apartment building featuring completely renovated units. Situated in Seattle’s Beacon Hill Neighborhood, residents enjoy seamless access local employment drivers, vibrant local retail, abundant dining, and other amenities.
Well maintained and thoughtfully upgraded, this property has undergone significant improvements over recent years. Featuring a unit mix of studio, one, and two-bedroom units and an average unit size of 560 SF, renovations include the replacement of all wiring and plumbing throughout the units, as well as complete kitchen and bathroom remodels, ensuring modern comfort and functionality for residents.
Positioned within the ever growing and primely positioned Beacon Hill submarket, this 22-unit asset presents a compelling investment opportunity for buyers. Whether you choose to continue operating the property as is, capitalize on current below-market rents to increase cash flow, or explore more long- term possibilities, the potential for success is abundant in this coveted location.
Well maintained and thoughtfully upgraded, this property has undergone significant improvements over recent years. Featuring a unit mix of studio, one, and two-bedroom units and an average unit size of 560 SF, renovations include the replacement of all wiring and plumbing throughout the units, as well as complete kitchen and bathroom remodels, ensuring modern comfort and functionality for residents.
Positioned within the ever growing and primely positioned Beacon Hill submarket, this 22-unit asset presents a compelling investment opportunity for buyers. Whether you choose to continue operating the property as is, capitalize on current below-market rents to increase cash flow, or explore more long- term possibilities, the potential for success is abundant in this coveted location.
Property Facts
| Price Per Unit | $272,223 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.97% | Lot Size | 0.17 AC |
| Gross Rent Multiplier | 11.2 | Building Size | 12,117 SF |
| No. Units | 22 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1911/2022 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | LR3, Seattle | ||
| Price Per Unit | $272,223 CAD |
| Sale Type | Investment |
| Cap Rate | 5.97% |
| Gross Rent Multiplier | 11.2 |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 12,117 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1911/2022 |
| Opportunity Zone |
Yes |
| Zoning | LR3, Seattle |
Amenities
Unit Amenities
- Heating
- Kitchen
- Range
- Tub/Shower
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | 316 |
| 1+1 | 13 | - | 470 |
| 2+1 | 6 | - | 672 |
| 2+2 | 1 | - | 809 |
Property Taxes
| Parcel Number | 388190-0190 | Improvements Assessment | $4,611,405 CAD |
| Land Assessment | $1,292,298 CAD | Total Assessment | $5,903,702 CAD |
Property Taxes
Parcel Number
388190-0190
Land Assessment
$1,292,298 CAD
Improvements Assessment
$4,611,405 CAD
Total Assessment
$5,903,702 CAD
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