13204 12th Ave SW
Burien WA 98146
Castlemonte Apartments
13204 12th Ave SW Burien WA 98146
Listing #: 717948 | Status: Available | Last Modified: 9/21/2026 |
For Sale
- Phone:(425) 422-7840
- Email:matt.johnston@kidder.com
- Office Name:Kidder Mathews
- Office Phone:(208) 362-8600
- Office Website:
- Agent Phone:(425) 681-7695
- Agent Email:winslow.lee@kidder.com
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 1,600,000.0
- $/SF$ 256.2
- $/Unit$ 1,600,000.0
- Listing StatusAvailable
- Days on Market20
- Asset ClassMulti-Family
- Terms
- Investment Type
- Investment PropYes
- Gross Income160,070
- Vacancy Factor %5.00%
- Operating Expenses52,121
- Net Operating Income99,945
- CAP Rate 6.75 %
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- Anchor
- CAP Rate 6.75 %
- Building StatusExisting
- # of Buildings2
- # of Floors3
- # of Units8
- # of Elevators
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF6245
- Net Rentable Area6245
- Total Office SF
- Largest Contiguous SF
- Lot SF13329
- Acres0.31
- Property TypeMulti-Family
- Office Type
- Building Class
- CountyKing
- Vicinity
- Location Description
- Second Address
- Cross Street
- Market AreaBurien/Normandy Park
- Tax ID #1823049146
- Additional Parcels
- ZoningRM-24
- # Covered Spaces0
- # Uncovered Spaces14
- Total Parking Spots14
- Parking Ratio
- Year Built1988
- Year Renovated
- Completion Date
- Roof Type
- Construction Type
Castelmonte Apartments
Discover 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.
