Turnkey 17-Unit Multifamily
2414 13TH Seattle, WA 98144
For Sale
$4,900,000
Turnkey 17-unit multifamily property near the Beacon Hill Light Rail Station for strong residential occupancy options.
Property Size11,876 SF
Price / SF$412.60
Days on Market581
Property Features for 2414 13TH
General Information
- Standard status
- Active
- Size
- 11,876 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1968
Listing Agency:
Urban Commercial Partners,LLC
Listed By:
Tyler J. Bretz
(206) 363-8509
Source:
Century21northhomes
Added: Dec 23, 2024
Changed: Jul 10
Last Checked: Jul 27 at 12:21AM
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 Urban Commercial Partners,LLC
Investment Insights
Based on property information with market context.
Beacon View Apartments is a turnkey 17-unit multifamily asset offered for sale. The property is presented as stabilized and designed for straightforward operation, with all units maintained as part of a single cohesive apartment building. Improvements and specific unit mix are not detailed in the provided information, but the offering is positioned as ready to manage upon transfer.
The community is located in Seattle’s North Beacon Hill area, within a short walk of the Beacon Hill Light Rail Station. The proximity to rail service provides convenient access to the Seattle Metro Area, supporting tenant appeal for those who value transit connectivity.
For investors or buyers seeking a residential income asset with immediate operational readiness, Beacon View Apartments offers a turn-key path to ownership. The listing also references projected year-one NOI of $299,370 and a 6.1% cap rate, which may be useful for underwriting and comparison. With the property described as stabilized and transit-oriented, it may align well with those looking for a multifamily acquisition tied to dependable day-to-day residential demand drivers.
The community is located in Seattle’s North Beacon Hill area, within a short walk of the Beacon Hill Light Rail Station. The proximity to rail service provides convenient access to the Seattle Metro Area, supporting tenant appeal for those who value transit connectivity.
For investors or buyers seeking a residential income asset with immediate operational readiness, Beacon View Apartments offers a turn-key path to ownership. The listing also references projected year-one NOI of $299,370 and a 6.1% cap rate, which may be useful for underwriting and comparison. With the property described as stabilized and transit-oriented, it may align well with those looking for a multifamily acquisition tied to dependable day-to-day residential demand drivers.
Key Highlights
- Beacon View Apartments: 17‑unit multifamily property built in 1968
- Projected year‑one NOI of $299,370
- 6.1% cap rate (projected)
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $377.7k | $31.80 |
| − Vacancy | −$13.2k | −$1.11 |
| EGI | $364.4k | $30.69 |
| − OpEx | −$164.0k | −$13.81 |
| NOI | $200.4k | $16.88 |
11,876 SF · lease $31.80/SF/yr · vacancy 3.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.86M
$2.51M – $3.34M
NOI $200,441 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.57M
$3.13M – $4.17M
NOI $250,105 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Turnkey 17-unit multifamily property near the Beacon Hill Light Rail Station for strong residential occupancy options.
Where is this apartment building located?
The property is located at 2414 13TH Seattle, WA.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: Beacon View Apartments: 17‑unit multifamily property built in 1968; Projected year‑one NOI of $299,370; 6.1% cap rate (projected)
