2014 SW 152nd St - Apartments FOR SALE


Burien, WA 98166- Seahurst
$2,300,000 USD
206-623-8880
2014 SW 152nd St, Burien, WA for Sale
$2,300,000 USD
Apartments - FOR SALE
1/16
null | 4.03% Cap Rate

2014 SW 152nd St
Burien, WA 98166
Seahurst


HIGHLIGHTS

  • Seller Financing
  • First Time on Market in 30 Years
  • Excellent Value-Add Opportunity
  • Fantastic Seahurst / Burien Location
  • MU-1 Zoning: Mixed-Use or Townhomes Development up to 55'

OVERVIEW

Westlake Associates, Inc. proudly offers the Seahurst 9 Apartments For Sale. Seahurst 9 represents an exceptional investment opportunity in the prestigious Seahurst neighborhood of Burien, Washington, surrounded by multi-million-dollar homes. The building is located on the bike/walk path to city Center next to Lake Burien. This marks the first time the building has hit the market in over 30 years. Built in 1962, it features a diverse mix of one, two, and three-bedroom apartments, averaging 651 square feet per unit. The building features hardwood floors, copper plumbing, and constructed with solid framed brick exterior. Notably, the building is zoned “MU-1” (Mixed-Use Low), which uniquely permits the potential for commercial use of its vast, underutilized basement area, accessible via a dedicated path entrance (buyer to verify). This zoning classification opens avenues for mixed-use development, enhancing the property’s value by allowing for both residential and commercial operations. The Seahurst 9 offers investors a rare chance to acquire an established cash flowing apartment building in one of the most sought-after areas, where opportunities for such acquisitions are scarce with a very limited supply of apartments in the immediate area. This is a perfect value-added opportunity for a new investor to raise rents through strategic unit upgrades while avoiding today’s lending market by utilizing attractive owner financing terms.

FOR SALE DETAILS

PRICE

$2,300,000 USD

PRICE/SF

$286 USD /SF

# OF UNITS

9

PRICE/UNIT

$255,556

CAP RATE

4.03%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Seahurst 9

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1962

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,716 SF

ZONING

MU-1

APN/PARCEL ID

763580-0480

ASK ABOUT THIS PROPERTY

David PetersenWestlake Associates, Inc.More Info
206-623-8880

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David PetersenWestlake Associates, Inc.More Info
206-623-8880

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.