13204 12th Avenue SW, Burien, WA 98146
- $1,600,000
- 6,260
- SqFt
Listing courtesy of Kidder Mathews.
- List Price
- $1,600,000
- Status
- ACTIVE
- MLS#
- 2584770
- Days on Market
- 0
- Style
- 55 - 5-9 Units
- Building Condition
- Good
- Finished SqFt
- 6,260
- Area Total SqFt
- 6260
- Annual Tax Ammount
- 17385
- Lot Size (sq ft)
- 13,350
- Sewer
- Sewer Connected
Property Description
Discover Castlemonte Apartments, an 8-unit investment opportunity located at 13204 12th Ave SW in Burien. Built in 1988, the property features 6,260 rentable square feet across two structures on a 13,350 SF lot zoned MU-1. The unit mix includes a studio, six spacious two-bedroom apartments, and a detached 2-bedroom single-family rental with a private yard. One unit is non-conforming. Property amenities include private balconies and patios, 14 off-street parking stalls, common laundry, and select units with territorial views. Recent improvements include a composition roof installed in 2021. Offered at a 6.75% in-place cap rate, Castlemonte presents an opportunity to increase NOI through rental upside and operational improvements. The two-structure configuration also offers potential to explore subdividing and selling the single-family home separately, subject to buyer verification and municipal approval. Conveniently located near Downtown Burien, Sea-Tac Airport, and major employment centers throughout the Puget Sound region.
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Additional Information
- List Date
- 2026-09-18 23:17:12
- Community
- Burien
- Net Operating Income
- $107,950
- Gross Adjusted Income
- $160,070
- Gross Scheduled Income
- $168,495
- Total Monthly Income
- $14,040
- Insurance Expenses
- $2,012
- Water/Sewer/Garbage Expenses
- $5,793
- Gross Rent Multiplier
- 15
- Total Expenses
- $52,120
- Cap Rate
- 6.7
- Vacancy Rate
- 5
- Total Number of Units
- 4
- Unit Name
- 13204
- Potential Terms
- Cash, Conventional
- Year Built
- 1988
- View
- Bay
- Roof
- Composition
- Electric Expenses
- 5793
- Other Expenses
- 15344
- Energy Source
- Electric
- School District
- Highline
- Total Monthly Income
- $14,040
- Gross Scheduled Income
- $168,495
- Vacancy Rate
- 5
- Gross Adjusted Income
- $160,070
- Tax Year
- 2026
- Insurance Expense
- $2,012
- W/S/G Expenses
- $5,793
- Total Expenses
- $52,120
- Net Operating Income
- $107,950
- Gross Rent Multiplier
- 15
- Cap Rate
- 6.7
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.