Seattle,
Washington WA98116
Welcome to Beachwood Apartments. This is a 10-unit Multifamily property on the Puget Sound with 65 feet of waterfront. The property provides tenants with a beautiful sunset over the Olympic Mountains, crisp breeze off the Puget Sound, and quick access to all the wonderful amenities West Seattle has to offer. Ownership has spent roughly 250k in capital improvements since 2015 including roughly 100k in the past year. This investment gives an investor a great opportunity to acquire one of the few waterfront apartments in Seattle.
Listing ID2025532
Sold For$3,900,000$250K
StatusClosed
Sold Date5/30/2023
SqFt
9,256
Acres
0.213
CountyKing
SubdivisionAlki
Year Built1901
Property TypeResidential Income
Property Sub TypeMulti-Family
County
King
Price Before Reduction
4150000
Price Reduction Date
2023-02-17T00:10:39+00:00
Property Sub Type
Multi-Family
Property Type
Residential Income
Subdivision
Alki
Year Built
1901
Building Area Units
Square Feet
Flooring
Vinyl Plank, Carpet
Furnished
Unfurnished
Interior Features
Wall to Wall Carpet
Living Area Units
Square Feet
Stories Total
3
Elevation Units
Feet
Exterior Features
Brick, Wood
Foundation Details
Poured Concrete
Lot Features
Curbs, Paved, Sidewalk
Lot Size Square Feet
9256
Lot Size Units
Square Feet
MLS Lot Size Source
KCR
Number Of Units Total
10
Roof
Torch Down
Sewer
Sewer Connected
Sewer Company
Seattle Public Utilities
Structure Type
Multi Family
Style Code
56 - 10+ Units
Units Below Grade
false
Units In Building Total
10
Water Company
Seattle Public Utilities
Water Sewer Garbage
12000
Water Source
Public
Building Area Total
9256
Country
US
Elementary School
Buyer To Verify
High School
Buyer To Verify
High School District
Seattle
Middle Or Junior School
Buyer To Verify
MLS Area Major
140 - West Seattle
View
Bay, City, Mountain(s), Ocean, Sound
Waterfront
yes
Waterfront Features
Bay/Harbor, Bulkhead, Ocean Access, Sound
Zoning Class
Multi-Family
Zoning Jurisdiction
City
Amenities
See Remarks
Effective Year Built Source
See Remarks
First Right Of Refusal
no
Mls Status
Sold
Offers
Seller intends to review offers upon receipt
Possible Use
Multi-Family
Power Company
Seattle City Light
Power Production Type
Electric
Preliminary Title Ordered
yes
Property Condition
Good
Show Map Link
yes
Year Built Effective
2015
Buyer Financing
Conventional
Cap Rate
5.37
Gross Adjusted Income
296970
Gross Scheduled Income
312600
Insurance Expense
13180
Leasable Area
9255
Leasable Area Units
Square Feet
Leased Items
None
Net Operating Income
211990
Possession
Closing, See Remarks
Sale Type
MLS
Seller Disclosure
Exempt
Special Listing Conditions
None
Tax Annual Amount
31415
Tax Year
2022
Total Expenses
56595
Vacancy Rate
5
4027 Beach Drive SW Seattle, WA 98116
Based on information submitted to the MLS GRID as of Saturday, March 23rd, 2024 10:36:18 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.
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Closed Listing courtesy of COMPASS
Listing sold by ZNonMember-Office-MLS
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Closed Listing courtesy of COMPASS
Listing sold by ZNonMember-Office-MLS