1401 S Holgate Street, Seattle, WA 98144
- $4,500,000
- 8,580
- SqFt
Listing courtesy of Urban Commercial Partners, LLC.
- List Price
- $4,500,000
- Status
- ACTIVE
- MLS#
- 2440780
- Price Change
- ▼ $200,000 1765414955
- Days on Market
- 347
- Style
- 56 - 10+ Units
- Building Condition
- Good
- Finished SqFt
- 8,580
- Lot Size (sq ft)
- 6,606
Property Description
Beacon Flats presents a compelling investment opportunity: a 17-unit apartment community ideally situated in Seattle’s vibrant North Beacon Hill neighborhood, just a short walk from the Beacon Hill Light Rail Station. Built in 1957 and renovated in 2017, this three-story brick-veneer building combines classic charm with modern convenience. The property features a unit mix of studios, one-bed, and two-bed apartments, each offering functional layouts and in-unit washer/dryer amenities. Operating at near-full occupancy year-round, Beacon Flats demonstrates strong tenant demand. Current rents average $1,678, below the area’s market average of $1,776, highlighting immediate upside potential through strategic rent adjustments.
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Additional Information
- List Date
- 2025-10-02 18:28:11
- Community
- Beacon Hill
- Potential Terms
- Cash, Conventional
- Year Built
- 1957
- View
- Mountains, Territorial
- Roof
- Flat
- School District
- Seattle
- Total Monthly Income
- $30,718
- Gross Scheduled Income
- $405,045
- Vacancy Rate
- 5
- Gross Adjusted Income
- $391,853
- Tax Year
- 2025
- Insurance Expense
- $24,637
- W/S/G Expenses
- $18,035
- Total Expenses
- $125,333
- Net Operating Income
- $268,846
- Gross Rent Multiplier
- 11.6
- Cap Rate
- 5.7
Mortgage Calculator
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.