Rebuilt Duplex with Separate
For Sale
$1,258,000
11647 Beacon, Seattle, WA 98178
Two distinct residences combine flexible living arrangements with a private garage, deck, loft, and independent entry.
Property Size4,703 SF
Price / SF$267.49
Days on Market14
Property Features for 11647 Beacon
General Information
Standard status
Active
Size
4,703 SF
Property subtype
Multi-family
Units
Unit Mix
1 x 4BR/3BA, 1 x 1BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Building Details
Year Built
1964
Year Renovated
2025
Listing Agency:
KW Everett
Listed By:
Victor Karpenko
(253) 520-3780
Source:
Skylineproperties
Added: Aug 4
Changed: Aug 17
Last Checked: Aug 17 at 7:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KW Everett
Investment Insights
Based on property information with market context.
Rebuilt to the studs in 2025, this duplex provides two separate residences within one property. Unit A is the larger home, with 4 bedrooms, 3 baths, open-concept living, a kitchen, modern finishes, a private garage, and a deck adjoining the main living area. An upstairs loft adds adaptable space for an office, media room, or additional lounge. Unit B is a self-contained 1-bedroom residence with its own entry and living area, supporting guest, extended-household, or rental use.
The property also includes a separate vacant land condominium unit identified as Unit C, which may be available for purchase. Plans, permits, and condominium documents are available in the supplements. The property is near Kubota Garden, Rainier Beach light rail, shopping, dining, and major commuter routes. The original 1964 construction date remains part of the property record, while the residence was rebuilt to the studs in 2025.
The property also includes a separate vacant land condominium unit identified as Unit C, which may be available for purchase. Plans, permits, and condominium documents are available in the supplements. The property is near Kubota Garden, Rainier Beach light rail, shopping, dining, and major commuter routes. The original 1964 construction date remains part of the property record, while the residence was rebuilt to the studs in 2025.
Key Highlights
- Rebuilt to the studs in 2025
- Unit A includes 4 bedrooms and 3 baths
- Unit B is a self‑contained 1‑bedroom residence with a private entry
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$84,887
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.75%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,697,740
$1.7M
Cap Rate 7%
$1,212,671
$1.2M
Cap Rate 9%
$943,189
$943.2K
Market Conditions
NOI Build-Up for 4,703 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$127.0K $27.00/SF
− Vacancy
−$5.7K −$1.22/SF
EGI
$121.3K $25.79/SF
− OpEx
−$36.4K −$7.74/SF
NOI
$84.9K $18.05/SF
Area
Seattle, WA
Vacancy
4.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,697,740
Cap Rate 7%
$1,212,671
Cap Rate 9%
$943,189
Alternative Uses
Best Use
Multifamily LT 5
$1.21M
$1.06M – $1.41M
NOI $84,887 @ 7.0% cap · market cap 6.75%
Second Best
Apartment 5plus
$1.13M
$992.2K – $1.32M
NOI $79,377 @ 7.0% cap · market cap 6.31%
Theoretical Best
Office A
$1.41M
$1.24M – $1.65M
NOI $99,044 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
172
Businesses Nearby
Explore this area
Business Placement
Demographics for 98178, WA
26,122
Population
10,018
Households
2.6
Avg Household Size
39
Median Age
36%
College-Educated
86%
High-School Grad
4.9 sq mi
ZIP Area
5,331
Density / Sq Mi
$93,786
Median Household Income
$52,123
Median Earnings
$1,836
Median Rent
$628,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two distinct residences combine flexible living arrangements with a private garage, deck, loft, and independent entry.
Where is this duplex located?
The property is located at 11647 Beacon Seattle, WA.
What is the asking price?
The asking price for this property is $1,258,000.
What are key features of this property?
This property features: Rebuilt to the studs in 2025; Unit A includes 4 bedrooms and 3 baths; Unit B is a self‑contained 1‑bedroom residence with a private entry
