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(206) 595-7188
Real Estate Company
2352 Alki Avenue SW, Seattle, WA 98116
- $1,900,000
- 4,524
- SqFt
Listing Broker: Paragon Real Estate Advisors; Tanner Fogle; 206-623-8880; Tanner@paragonrea.com
- List Price
- $1,900,000
- Status
- ACTIVE
- MLS#
- 2595365
- Days on Market
- 0
- Style
- 55 - 5-9 Units
- Finished SqFt
- 4,524
- Area Total SqFt
- 4524
- Annual Tax Ammount
- 19190
- Lot Size (sq ft)
- 6,640
- Sewer
- Available
Property Description
The Tides Apartments is an eight-unit apartment building ideally situated directly along Alki Avenue SW on one of Seattle’s most iconic stretches of waterfront. Offered for the first time since 1954, this is a rare opportunity to acquire a piece of Alki Beach history in a location where multifamily properties are tightly held and opportunities to purchase are few and far between. Select units capture sought-after water views. Additional amenities include dual-pane vinyl windows, individually controlled electric baseboard heating, an on-site common laundry room, and two off-street parking stalls, a valuable convenience along Alki Avenue SW, where parking is at a premium. The property’s classic interiors present an exciting value-add opportunity for an investor seeking to unlock the full potential of this irreplaceable waterfront location. Through strategic interior renovations as units turn over, a new owner can modernize the existing apartment homes. The property’s LR2 (M) zoning on a 6,640-square-foot lot offers an additional layer of long-term redevelopment potential, providing flexibility beyond the immediate renovation strategy. Residents are steps from Alki Beach Park and the Alki Trail, within walking distance of Alki Point Lighthouse and Statue of Liberty Plaza, and connected to Downtown Seattle via the King County Water Taxi, with the Route 775 shuttle stopping just 0.1 miles away.
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Additional Information
- List Date
- 2026-10-16 18:29:16
- Community
- Alki
- Net Operating Income
- $88,271
- Gross Adjusted Income
- $144,190
- Gross Scheduled Income
- $151,779
- Total Monthly Income
- $12,648
- Insurance Expenses
- $4,787
- Water/Sewer/Garbage Expenses
- $11,968
- Gross Rent Multiplier
- 12.51
- Total Expenses
- $64,016
- Cap Rate
- 4.7
- Vacancy Rate
- 5
- Total Number of Units
- 8
- Unit Name
- 2352
- Potential Terms
- Cash, Conventional
- Year Built
- 1901
- Roof
- Flat
- Other Expenses
- 28071
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $12,648
- Gross Scheduled Income
- $151,779
- Vacancy Rate
- 5
- Gross Adjusted Income
- $144,190
- Tax Year
- 2026
- Insurance Expense
- $4,787
- W/S/G Expenses
- $11,968
- Total Expenses
- $64,016
- Net Operating Income
- $88,271
- Gross Rent Multiplier
- 12.51
- Cap Rate
- 4.7
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.