Renovated Beacon Hill Apartment
2414 13th Ave Seattle, WA 98144
For Sale
Contact for pricing
17-unit mid-rise apartment building renovated in 2017 with studio through two-bedroom units and 17 on-site parking spaces.
Property Size22,400 SF
Lot Size0.14 Acres
Price / SF$218.75
Days on Market302
Property Features for 2414 13th Ave
General Information
Standard status
Active
Size
22,400 SF
Lot size
0.14 Acres
Property subtype
MULTIFAMILY
Listing Agency:
Urban Commercial Partners, LLC
(206) 735-7888
Listed By:
Jason Elrod
(206) 735-7888
Source:
Moodyscre
Added: Sep 29, 2025
Changed: Jul 25
Last Checked: Jul 27 at 10:49AM
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 17-unit mid-rise apartment building constructed in 1968 and extensively renovated in 2017. The property features an efficient unit mix of studios, one-bedroom, and two-bedroom apartments totaling 22,400 SF of building area, and it currently operates at 100% occupancy.
The building is situated on a 0.14-acre lot with 17 parking spaces. It is zoned LR3 and is located in North Beacon Hill, offering access to Downtown Seattle, South Lake Union, and the University District, with light rail and I-5 minutes away.
For sales, the property is offered with current rents averaging $1,978 per unit, which are noted as remaining below a stated market average of $2,094. According to the provided information, the difference is expected to support near-term rental growth.
The building is situated on a 0.14-acre lot with 17 parking spaces. It is zoned LR3 and is located in North Beacon Hill, offering access to Downtown Seattle, South Lake Union, and the University District, with light rail and I-5 minutes away.
For sales, the property is offered with current rents averaging $1,978 per unit, which are noted as remaining below a stated market average of $2,094. According to the provided information, the difference is expected to support near-term rental growth.
Key Highlights
- 17‑unit mid‑rise apartment building on 13th Avenue South in Seattle’s Beacon Hill neighborhood
- Built in 1968 and extensively renovated in 2017
- 22,400 SF building area with a mix of studio, one-, and two‑bedroom units
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 | $712.3k | $31.80 |
| − Vacancy | −$24.9k | −$1.11 |
| EGI | $687.4k | $30.69 |
| − OpEx | −$309.3k | −$13.81 |
| NOI | $378.1k | $16.88 |
22,400 SF · lease $31.80/SF/yr · vacancy 3.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$5.40M
$4.73M – $6.30M
NOI $378,064 @ 7.0% cap · market cap 7.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.74M
$5.90M – $7.86M
NOI $471,738 @ 7.0% cap · market cap 9.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - 17-unit mid-rise apartment building renovated in 2017 with studio through two-bedroom units and 17 on-site parking spaces.
Where is this apartment building located?
The property is located at 2414 13th Ave 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: 17‑unit mid‑rise apartment building on 13th Avenue South in Seattle’s Beacon Hill neighborhood; Built in 1968 and extensively renovated in 2017; 22,400 SF building area with a mix of studio, one-, and two‑bedroom units
