3015 Alki Avenue SW, Seattle, WA 98116

$4,500,000
7,239
SqFt

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Listing courtesy of Berkshire Hathaway HS NW.

List Price
$4,500,000
Status
ACTIVE
MLS#
2536745
Days on Market
33
Style
55 - 5-9 Units
Building Condition
Very Good
Finished SqFt
7,239
Area Total SqFt
7239
Annual Tax Ammount
25560
Lot Size (sq ft)
15,831
Sewer
Sewer Connected

Property Description

The Dolphin is an iconic 8-unit waterfront apartment building prominently situated along the shores of Alki Beach. Meticulously maintained and extensively upgraded, this rare investment opportunity features approximately 65 feet of bulkheaded Puget Sound frontage with sweeping water and Olympic Mountain views. Significant improvements include a complete exterior refit with brick & stucco finishes, marine-grade stainless steel components, fiberglass decks, & an 80-mil PVC roof membrane. Ownership includes primary & secondary tidelands together with boat buoy rights—an increasingly rare waterfront amenity. Distinguished by its signature landscaping & landmark presence along the Alki shoreline, The Dolphin offers a unique combination of quality, location, & long-term investment potential. Conveniently located near Alki Point Lighthouse, waterfront recreation, dining, & neighborhood amenities. A rare opportunity to acquire a legacy-quality waterfront asset in one of Seattle's most sought-after coastal locations. First time on the Market in 30 years!

Additional Information

List Date
2026-06-23 17:43:13
Community
Alki
Net Operating Income
$224,966
Gross Adjusted Income
$311,520
Gross Scheduled Income
$309,120
Total Monthly Income
$25,760
Insurance Expenses
$5,643
Water/Sewer/Garbage Expenses
$10,117
Gross Rent Multiplier
14.5
Total Expenses
$74,924
Cap Rate
5
Vacancy Rate
3
Total Number of Units
8
Unit Name
3015
Potential Terms
Cash
Year Built
1958
Waterfront
Yes
View
Mountains, Sound
Roof
Flat
Site Features
Cable TV, Deck, Fenced-Partially, Patio
Other Expenses
33604
Energy Source
Electric, See Remarks
School District
Seattle
Total Monthly Income
$25,760
Gross Scheduled Income
$309,120
Vacancy Rate
3
Gross Adjusted Income
$311,520
Tax Year
2025
Insurance Expense
$5,643
W/S/G Expenses
$10,117
Total Expenses
$74,924
Net Operating Income
$224,966
Gross Rent Multiplier
14.5
Cap Rate
5
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.
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