Historic Brick Apartment
For Sale
$4,496,000
2452 Alki Ave SW, Seattle, WA 98116
Period masonry construction and a waterfront setting distinguish this multifamily property across from Alki Beach.
Property Size9,900 SF
Price / SF$454.14
Days on Market52
Property Features for 2452 Alki Ave SW
General Information
Standard status
Active
Size
9,900 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Alki
Building Details
Year Built
1928
Construction
brick
Listing Agency:
John L. Scott, Inc.
Listed By:
Linda G. Dorgan · License #8141
From the agent's profile:
(425) 744-5300
Source:
Montgomeryht
Added: Sep 9
Changed: Oct 25
Last Checked: Oct 5 at 10:28PM
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 John L. Scott, Inc.
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Investment Insights
Based on property information with market context.
Built in 1928, this apartment building features historic brick masonry and period architectural detailing. Its character reflects early twentieth-century construction and distinguishes the property within the multifamily market. The building contains 9,900 square feet of property size as reported in the listing data.
The property is located at 2452 Alki Ave SW in Seattle, directly across from Alki Beach. Views extend toward Puget Sound and the Olympic Mountains, with shoreline activity including ferries, sailboats, and commercial vessels. Restaurants, cafés, and waterfront attractions are within walking distance, while the 2.5-mile Alki Trail provides a route for walking, jogging, biking, and rollerblading. The beach also includes seasonal fire pits and opportunities for paddleboarding and kayaking.
The property is located at 2452 Alki Ave SW in Seattle, directly across from Alki Beach. Views extend toward Puget Sound and the Olympic Mountains, with shoreline activity including ferries, sailboats, and commercial vessels. Restaurants, cafés, and waterfront attractions are within walking distance, while the 2.5-mile Alki Trail provides a route for walking, jogging, biking, and rollerblading. The beach also includes seasonal fire pits and opportunities for paddleboarding and kayaking.
Key Highlights
- 1928‑built apartment building with historic brick masonry
- 9,900 square feet of property size
- Directly across from Alki Beach
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$167,091
Cap Rate
3.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,341,820
$3.3M
Cap Rate 7%
$2,387,014
$2.4M
Cap Rate 9%
$1,856,567
$1.9M
Market Conditions
NOI Build-Up for 9,900 SF
Gross rent
$314.8K $31.80/SF
− Vacancy
−$11.0K −$1.11/SF
EGI
$303.8K $30.69/SF
− OpEx
−$136.7K −$13.81/SF
NOI
$167.1K $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%
$3,341,820
Cap Rate 7%
$2,387,014
Cap Rate 9%
$1,856,567
Alternative Uses
Best Use
Apartment 5plus
$2.39M
$2.09M – $2.78M
NOI $167,091 @ 7.0% cap · market cap 3.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.98M
$2.61M – $3.47M
NOI $208,491 @ 7.0% cap · market cap 4.64%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
411
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Period masonry construction and a waterfront setting distinguish this multifamily property across from Alki Beach.
Where is this apartment building located?
The property is located at 2452 Alki Ave SW Seattle, WA.
What is the asking price?
The asking price for this property is $4,496,000.
What are key features of this property?
This property features: 1928‑built apartment building with historic brick masonry; 9,900 square feet of property size; Directly across from Alki Beach
