Beacon View Apartments | 2414 13th Ave S
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Beacon View Apartments 2414 13th Ave S
17 Unit Apartment Building $5,000,000 ($294,118/Unit) 5.45% Cap Rate Seattle, WA 98144
Executive Summary
100% occupied 17-unit in North Beacon Hill. 5-minute walk from Beacon Hill Light Rail Station. The property is offered for sale individually or as a portfolio combined with Beacon Flats and Westward Apartments. Current NOI is $272,632 with in-place Cap Rate of 5.5%. Income upside, rents slightly under market standard.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$272,632
|
$12.17
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $272,632 |
| Annual Per SF | $12.17 |
Property Facts
| Price | $5,000,000 | Apartment Style | Mid Rise |
| Price Per Unit | $294,118 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 5.45% | Building Size | 22,400 SF |
| Sale Conditions | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 17 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1968/2017 |
| Property Subtype | Apartment | Parking Ratio | 0.22/1,000 SF |
| Price | $5,000,000 |
| Price Per Unit | $294,118 |
| Sale Type | Investment |
| Cap Rate | 5.45% |
| Sale Conditions | 1031 Exchange |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 22,400 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1968/2017 |
| Parking Ratio | 0.22/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | $1,502 | 450 |
| 1+1 | 9 | $1,906 | 750 |
| 2+1.5 | 5 | $2,287 | 1,000 |
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Walk Score ®
Very Walkable (83)
Transit Score ®
Excellent Transit (75)
Bike Score ®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $2,381,300 | |
| Land Assessment | $1,350,700 | Total Assessment | $3,732,000 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,350,700
Improvements Assessment
$2,381,300
Total Assessment
$3,732,000
zoning
| Zoning Code | LR3 (Low Rise zoning) |
| LR3 (Low Rise zoning) |
-
Jason Elrod -
Tyler Bretz -
Urban Commercial Partners, LLC
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Beacon View Apartments | 2414 13th Ave S
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