1788 Alki Avenue SW, Seattle, WA 98116
- $2,975,000
- 7,200
- SqFt
Listing courtesy of Kidder Mathews.
- List Price
- $2,975,000
- Status
- ACTIVE
- MLS#
- 2493770
- Price Change
- ▼ $275,000 1781742633
- Days on Market
- 131
- Style
- 55 - 5-9 Units
- Building Condition
- Very Good
- Finished SqFt
- 7,200
- Area Total SqFt
- 7200
- Annual Tax Ammount
- 25643
- Lot Size (sq ft)
- 12,000
- Sewer
- Sewer Connected
Property Description
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 irreplaceable Alki waterfront offering with income, scale, and land value in a highly sought-after coastal submarket. Buyer to verify all information to their satisfaction.
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Additional Information
- List Date
- 2026-03-17 19:28:13
- Community
- Alki
- Net Operating Income
- $146,607
- Gross Adjusted Income
- $212,034
- Gross Scheduled Income
- $208,200
- Total Monthly Income
- $17,350
- Insurance Expenses
- $5,839
- Water/Sewer/Garbage Expenses
- $3,360
- Gross Rent Multiplier
- 22
- Total Expenses
- $65,427
- Cap Rate
- 4.51
- Vacancy Rate
- 3
- Total Number of Units
- 6
- Unit Name
- 1788
- Potential Terms
- Cash, Conventional
- Year Built
- 1937
- View
- City, Mountains, Ocean, Sound, Territorial
- Roof
- Composition, Flat
- Electric Expenses
- 3360
- Other Expenses
- 23865
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $17,350
- Gross Scheduled Income
- $208,200
- Vacancy Rate
- 3
- Gross Adjusted Income
- $212,034
- Tax Year
- 2026
- Insurance Expense
- $5,839
- W/S/G Expenses
- $3,360
- Total Expenses
- $65,427
- Net Operating Income
- $146,607
- Gross Rent Multiplier
- 22
- Cap Rate
- 4.51
Based on information submitted to the MLS GRID as of . 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 noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.