Beacon Hill Renovated Apartment
For Sale
$4,295,000
1815 13th Avenue S, Seattle, WA 98144
22-unit apartment building in Seattle's Beacon Hill neighborhood.
Property Size12,117 SF
Price / SF$354.46
Days on Market414
Property Features for 1815 13th Avenue S
General Information
Standard status
Active
Size
12,117 SF
Property subtype
Multi-Family
Net Operating Income
$295,244
Site & Location
Neighborhood
Beacon Hill
Taxes and HOA fees
Annual Taxes
$43,040
Amenities
Vinyl Plank
Yes
No
3
Electric
Adjacent to Public Land,Alley,Corner Lot,Paved,Sidewalk
Public
0.1653
See Remarks
12117
Building Details
Building Size
12,117 SF
Year Built
1911
Stories
3
Listing Agency:
Paramount Real Estate Group
(360) 723-0155
Listed By:
Mike Stone
(360) 773-7058
Source:
Premierepropertygroup
Added: Sep 10, 2025
Changed: Oct 26
Last Checked: Oct 28 at 6:07AM
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 Paramount Real Estate Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 22-unit apartment building is located in Seattle’s Beacon Hill neighborhood, providing residents with access to employment, retail, dining, and other amenities. The property has undergone improvements in recent years and features a unit mix of studio, one, and two-bedroom units with an average unit size of 560 square feet. Renovations include the replacement of all wiring and plumbing throughout the units, as well as complete kitchen and bathroom remodels. The property is positioned in the Beacon Hill submarket and presents an investment opportunity for buyers. The potential for success is abundant in this location.
Key Highlights
- Completely renovated units with modern kitchens and bathrooms.
- Prime location in Seattle's Beacon Hill neighborhood with easy access to employment, retail, and dining.
- Significant improvements and upgrades throughout the property.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$204,509
Cap Rate
4.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,090,180
$4.1M
Cap Rate 7%
$2,921,557
$2.9M
Cap Rate 9%
$2,272,322
$2.3M
Market Conditions
NOI Build-Up for 12,117 SF
Gross rent
$385.3K $31.80/SF
− Vacancy
−$13.5K −$1.11/SF
EGI
$371.8K $30.69/SF
− OpEx
−$167.3K −$13.81/SF
NOI
$204.5K $16.88/SF
Area
Seattle, WA
Vacancy
3.50%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,090,180
Cap Rate 7%
$2,921,557
Cap Rate 9%
$2,272,322
Alternative Uses
Best Use
Apartment 5plus
$2.92M
$2.56M – $3.41M
NOI $204,509 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.65M
$3.19M – $4.25M
NOI $255,181 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
1,095
Businesses Nearby
Explore this area
Business Placement
Demographics for 98144, WA
32,178
Population
16,381
Households
2
Avg Household Size
38
Median Age
62%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
9,464
Density / Sq Mi
$94,051
Median Household Income
$65,078
Median Earnings
$1,805
Median Rent
$890,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - 22-unit apartment building in Seattle's Beacon Hill neighborhood.
Where is this apartment building located?
The property is located at 1815 13th Avenue S Seattle, WA.
What is the asking price?
The asking price for this property is $4,295,000.
What are key features of this property?
This property features: Completely renovated units with modern kitchens and bathrooms.; Prime location in Seattle's Beacon Hill neighborhood with easy access to employment, retail, and dining.; Significant improvements and upgrades throughout the property.
