Back Nine Apartments | 2365 14th Ave W
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Back Nine Apartments 2365 14th Ave W
8 Unit Block of Flats £1,560,988 (£195,123/Unit) 5.23% Net Initial Yield Seattle, WA 98119
Investment Highlights
- Score with Proximity: A tee shot away from Interbay Par 3 golf course & driving range, key employment hubs, and popular local amenities.
- Current rents, in combination with a desirable unit sizes totaling 4,306 SF are just a couple supporting factors for the property's strong rental hist
- Well-maintained & fully renovated asset, offering strong in place income and ease of ownership.
- Providing future investors an opportunity to own a true centrally located asset with strong tenant demand for years to come.
Executive Summary
Lee & Associates NW Multifamily Team is pleased to present the exclusive listing of the Back Nine
Apartments, an eight-unit apartment building in West Queen Anne.
Centrally positioned between Ballard, Fremont, South Lake Union and Downtown Seattle, Back Nine
offers its residents convenient proximity to local amenities and major employers such as Meta,
Google, Expedia, and others.
The property features an attractive unit mix consisting of all walk-up style one-bedroom apartments
with separate entrances and featuring a spacious average size of 538 sf. The building also offers
its tenants a shared back yard space, incorporating a patio and barbecue area.
Units 1, 2, 3, 4, 6, and 7 have undergone significant interior updates, including the removal of
outdated cabinetry, flooring, hardware, and plumbing lines, as well as the installation of new
luxury vinyl plank (LVP) flooring, soundproofing, and modernized kitchen and bathroom fixtures.
Unit 8 has been completely remodeled with new framing, electrical panel, PEX plumbing, and upgraded
HVAC systems, ensuring it meets the highest standards for tenant comfort.
Back Nine Apartments makes an excellent investment for investors who are looking to secure a prime
location and enjoy ease of ownership with a proven strong tenant base and the luxury of modern
systems and amenities in one
Seattle’s most centrally located neighborhoods.
Apartments, an eight-unit apartment building in West Queen Anne.
Centrally positioned between Ballard, Fremont, South Lake Union and Downtown Seattle, Back Nine
offers its residents convenient proximity to local amenities and major employers such as Meta,
Google, Expedia, and others.
The property features an attractive unit mix consisting of all walk-up style one-bedroom apartments
with separate entrances and featuring a spacious average size of 538 sf. The building also offers
its tenants a shared back yard space, incorporating a patio and barbecue area.
Units 1, 2, 3, 4, 6, and 7 have undergone significant interior updates, including the removal of
outdated cabinetry, flooring, hardware, and plumbing lines, as well as the installation of new
luxury vinyl plank (LVP) flooring, soundproofing, and modernized kitchen and bathroom fixtures.
Unit 8 has been completely remodeled with new framing, electrical panel, PEX plumbing, and upgraded
HVAC systems, ensuring it meets the highest standards for tenant comfort.
Back Nine Apartments makes an excellent investment for investors who are looking to secure a prime
location and enjoy ease of ownership with a proven strong tenant base and the luxury of modern
systems and amenities in one
Seattle’s most centrally located neighborhoods.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £1,560,988 | Apartment Style | Low Rise |
| Price Per Unit | £195,123 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Net Initial Yield | 5.23% | Building Size | 4,306 SF |
| Gross Rent Multiplier | 13.1 | Average Occupancy | 100% |
| No. Units | 8 | Number of Floors | 1 |
| Property Type | Residential | Year Built | 1955 |
| Property Subtype | Apartment | Parking Ratio | 0.46/1,000 SF |
| Price | £1,560,988 |
| Price Per Unit | £195,123 |
| Sale Type | Investment |
| Net Initial Yield | 5.23% |
| Gross Rent Multiplier | 13.1 |
| No. Units | 8 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 4,306 SF |
| Average Occupancy | 100% |
| Number of Floors | 1 |
| Year Built | 1955 |
| Parking Ratio | 0.46/1,000 SF |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Tub/Shower
- Yard
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Public Transportation
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 8 | £1,326 | 538 |
1 of 1
PROPERTY TAXES
| Parcel Number | 277060-4265 | Total Assessment | £1,288,695 (2023) |
| Land Assessment | £938,940 (2023) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £349,755 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
277060-4265
Land Assessment
£938,940 (2023)
Improvements Assessment
£349,755 (2023)
Total Assessment
£1,288,695 (2023)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2024
zoning
| Zoning Code | LR1 (M) |
| LR1 (M) |
Contacts
-
Chris Larsen -
Dea Sumantri -
Candice Chevaillier, CCIM -
Daniel Lim -
Sara Bago -
Lee & Associates Commercial Real Estate Services
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Back Nine Apartments | 2365 14th Ave W
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