New ListingDiscover 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.
| MLS # | 2584770 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1988 |
| Days On Site | 5 |
| Listing Provided By | Kidder Mathews | Max Frame |
| SQ Feet | 6,260 |
|---|---|
| Story(s) | 4 |
| Units | 4 |
| Acreage | 0.31 |
| Property View | Yes |
| Property | 17385 |
|---|
| State | WA |
|---|---|
| County | King |
| City | Burien |
| Zip Code | 98146 |
| Area | 130 Burien | Normandy Park |
| Community Name | Burien |
| Listing VS Median (in Burien) | |
Price: $1,600,000 low | high Med: $595,000 sqft: 6,260 low | high Med: 2,050 $ / sqft: $256 low | high Med: $292 On site: 5 low | high Med: 112 | |
| State | WA |
|---|---|
| County | King |
| City | Burien |
| Zip Code | 98146 |
| Area | 130 Burien | Normandy Park |
| Community Name | Burien |
| Listing VS Median (in Burien) | |
Price: $1,600,000 low | high Med: $595,000 sqft: 6,260 low | high Med: 2,050 $ / sqft: $256 low | high Med: $292 On site: 5 low | high Med: 112 | |