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… Read More 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. Read Less
Listing courtesy of Paragon Real Estate Advisors
Listing Snapshot
Cumulative Days On Market
0
Last Updated
Property Type
Multi Family
Square Ft.
4,524
Lot Size
0.15 Acres
Year Built
1901
Property Tax
$19,190
MLS Number
2595365
Additional Details
Building
Built in 1901, 2 stories, Construction Materials: Brick, Wood
Cooling
None
Expenses
Insurance: $4,787, Other Expense: $28,071
Exterior Features
Brick, Wood Products
Floors
Laminate, Carpet
Heating
Baseboard
Home Owner's Association
Association Fee: $0
Income
Gross ScheduledIncome: $151,779, Net Operating Income: $88,271
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. Listings last updated on ,
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