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Listings/1788 Alki Ave SW
1788 Alki Ave SW
On the Market
Price: $3,250,000
Offers Date: Review Upon Receipt. Offer Review Date TBA.
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Site Details
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Opportunity
Iconic Alki Waterfront Location
The property is a rare waterfront asset on Alki Beach, located directly on Alki Avenue SW with unobstructed Puget Sound and Olympic Mountain views. Steps from Alki Beach, the Alki Trail, and the West Seattle retail corridor, the location consistently drives strong tenant demand and premium rents.
The offering includes a 6-unit property on a 12,000 SF LR2(M)-zoned parcel, an increasingly scarce configuration on the Alki waterfront that provides both stable land value and meaningful redevelopment potential in a supply-constrained submarket.
Current rents are approximately 15% below market, creating immediate upside at lease turnover. Additional value can be unlocked through unit renovations, a potential short-term rental conversion generating an estimated $50,000 in additional annual income, or redevelopment into premium townhomes, with options to either redevelop the entire site or retain the existing fourplex while redeveloping the duplex portion.
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About the Area
UNPARALLED VIEWS IN AN AMENITY-FILLED LOCATION
West Seattle is one of Seattle’s most distinctive and livable neighborhoods, offering a relaxed coastal feel paired with strong community character and urban accessibility.
Anchored by the vibrant Alaska Junction, the area features a walkable collection of local restaurants, cafés, boutiques, and everyday amenities, creating a small-town atmosphere within the city. Known for its sweeping Puget Sound and Olympic Mountain views, West Seattle also boasts abundant outdoor recreation, including Alki Beach, Lincoln Park, and miles of waterfront trails. With convenient transit connections to downtown and a lifestyle that balances nature, neighborhood charm, and modern convenience, West Seattle appeals to residents seeking space, scenery, and a slower pace without sacrificing connectivity.
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