21833 7th Avenue S, Des Moines, WA 98198
- $3,260,000
- 16,100
- SqFt
Listing courtesy of Paragon Real Estate Advisors. Selling Office: DBW Private Brokerage LLC.
- Sold Price
- $3,260,000
- List Price
- $3,450,000
- Status
- SOLD
- MLS#
- 2448401
- Closing Date
- Feb 12, 2026
- Days on Market
- 29
- Style
- 56 - 10+ Units
- Finished SqFt
- 16,100
- Area Total SqFt
- 16100
- Annual Tax Ammount
- 45704
- Lot Size (sq ft)
- 45,800
- Sewer
- Sewer Connected
Property Description
23-unit value-add apartment community in the desirable Des Moines Marina District. Built in 1962, the Cliff offers a mix of studio 1 and 2 bedroom units. Livable and cool mid-century layouts with great natural light position the property well for a renovation strategy that enhances tenant appeal and drives income potential. Building features and amenity spaces include a convenient common laundry area on the lower level, large and secure tenant storage lockers and a small office suitable for a property manager or maintenance staff. Priced at $150,000 per unit, the Cliff Apartments present a compelling opportunity to acquire a quality asset offering significant upside in a desirable and thinly traded waterfront community.
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Additional Information
- List Date
- 2026-01-14 00:00:00
- Community
- Des Moines
- Net Operating Income
- $162,698
- Gross Adjusted Income
- $327,145
- Gross Scheduled Income
- $340,776
- Total Monthly Income
- $28,398
- Insurance Expenses
- $23,000
- Water/Sewer/Garbage Expenses
- $32,146
- Gross Rent Multiplier
- 10.12
- Total Expenses
- $164,447
- Cap Rate
- 4.72
- Vacancy Rate
- 4
- Total Number of Units
- 23
- Unit Name
- 21833
- Potential Terms
- Cash, Conventional
- Year Built
- 1962
- Roof
- Composition
- Other Expenses
- 63597
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $28,398
- Gross Scheduled Income
- $340,776
- Vacancy Rate
- 4
- Gross Adjusted Income
- $327,145
- Tax Year
- 2025
- Insurance Expense
- $23,000
- W/S/G Expenses
- $32,146
- Total Expenses
- $164,447
- Net Operating Income
- $162,698
- Gross Rent Multiplier
- 10.12
- Cap Rate
- 4.72
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.