1512 12Th Ave Seattle, WA 98144
- Commercial real estate
- 3,377 SF
Current Use by Public Records
- Commercial real estate
Property Details for 1512 12Th Ave
- Year built
- 2024
- Property size
- 3,377 SF
- Property type
- Commercial real estate
Description
This exceptional Class A, seven-unit apartment building presents a compelling investment opportunity. Completed in 2024, this turnkey property boasts a strong NOI of $99,126 and a 5.22% cap rate, reflecting its high-demand location and modern amenities. The 3,377 square foot building sits on a 3,497 square foot lot in Seattle's desirable Beacon Hill neighborhood, zoned LR3 (M). Six of the seven units are currently leased, generating immediate cash flow. The unit mix includes one three-bedroom/one-bathroom unit, two one-bedroom/one-bathroom units, and four studio units, offering diverse rental options. Each unit features high-end finishes, including luxury vinyl plank (LVP) flooring, quartz countertops, stainless steel appliances, dishwashers, and upgraded cabinetry and fixtures. In-unit laundry and a secure, covered garage add to the appeal. Its proximity to downtown Seattle, Lumen Field, and T-Mobile Park, combined with a transit score of 85, ensures strong tenant demand. The asking price is $1,900,000, with a price per unit of $271,428.57 and a price per square foot of $562.63. This property offers a rare blend of modern luxury, strong rental income, and a prime location, making it an ideal addition to any investment portfolio. The building is four stories and features abundant natural light in each unit.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Seattle
- County
- King
- State
- Washington
- Longitude
- -122.3169603
- Latitude
- 47.5895625
