Alki Surf Apartments Waterfront
For Sale
$6,500,000
Pending
2440 Alki Ave SW, Seattle, WA 98116
Trophy waterfront apartment building in Alki Beach, West Seattle.
Property SizeContact for details
Days on Market165
Property Features for 2440 Alki Ave SW
General Information
Standard status
Pending
Property subtype
Commercial
Building Details
Year Built
1984
Listing Agency:
URBAN COMMERCIAL PARTNERS, LLC
Listed By:
PATRICK SUAREZ
Source:
Corcoran
Added: Feb 25
Changed: Aug 8
Last Checked: Aug 8 at 1:53PM
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.
The Alki Surf Apartments present a rare opportunity to acquire a waterfront asset in the heart of West Seattle's Alki Beach. This property, with unobstructed west-facing views of Puget Sound, is making its debut on the market since its original development in 1984. The building features 10 large residential units, including six 2-bedroom, 2-bathroom units and four 3-bedroom, 2-bathroom units, all equipped with private west-facing balconies. The property offers immediate upside potential with minimal capital investment. In-place rents are approximately 20% below market value, with additional income growth possible through the optimization of utility reimbursement and parking income. Recent capital improvements include a new roof, new windows, exterior paint, new decks, and new gutters.
Key Highlights
- Trophy waterfront asset on Alki Beach with unobstructed west‑facing views of Puget Sound.
- Immediate upside potential with rents approximately 20% below market.
- Ten large residential units: (6) 2 bed/2 bath and (4) 3 bed/2 bath, all with private west‑facing balconies.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
411
Businesses Nearby
Explore this area
Business Placement
Demographics for 98116, WA
27,691
Population
14,652
Households
1.9
Avg Household Size
41
Median Age
69%
College-Educated
98%
High-School Grad
3.0 sq mi
ZIP Area
9,230
Density / Sq Mi
$130,504
Median Household Income
$86,680
Median Earnings
$2,033
Median Rent
$917,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Trophy waterfront apartment building in Alki Beach, West Seattle.
Where is this apartment building located?
The property is located at 2440 Alki Ave SW Seattle, WA.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: Trophy waterfront asset on Alki Beach with unobstructed west‑facing views of Puget Sound.; Immediate upside potential with rents approximately 20% below market.; Ten large residential units: (6) 2 bed/2 bath and (4) 3 bed/2 bath, all with private west‑facing balconies.
