Beacon Hill Apartments | 1815 13th Ave S
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Beacon Hill Apartments 1815 13th Ave S
22 Unit Apartment Building $5,700,000 ($259,091/Unit) Seattle, WA 98144
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.
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.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $5,700,000 | Building Class | C |
| Price Per Unit | $259,091 | Lot Size | 0.17 AC |
| Sale Type | Investment | 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
|
| Apartment Style | Low Rise |
| Price | $5,700,000 |
| Price Per Unit | $259,091 |
| Sale Type | Investment |
| 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 |
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 |
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Transit Score ®
Excellent Transit (77)
Bike Score ®
Very Bikeable (84)
PROPERTY TAXES
| Parcel Number | 388190-0190 | Total Assessment | $4,593,000 (2023) |
| Land Assessment | $936,000 (2023) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $3,657,000 (2023) | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
388190-0190
Land Assessment
$936,000 (2023)
Improvements Assessment
$3,657,000 (2023)
Total Assessment
$4,593,000 (2023)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024 Payable 2024
zoning
| Zoning Code | LR3, Seattle |
| LR3, Seattle |
Contacts
-
Chris Larsen -
Dea Sumantri -
Candice Chevaillier, CCIM -
Daniel Lim -
Lee & Associates Commercial Real Estate Services
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Beacon Hill Apartments | 1815 13th Ave S
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