1788 Alki Ave SW represents a rare opportunity to acquire a prime waterfront multifamily asset in one of Seattle’s most desirable coastal neighborhoods. Situated directly along Alki Avenue with unobstructed views of Puget Sound and the Olympic Mountains, the property offers unmatched lifestyle appeal and sustained rental demand. The six renovated units feature strong in-place income with rents averaging 15 percent below market, providing immediate upside at turnover with limited execution risk. The 12,000 SF LR2(M)-zoned lot delivers exceptional long-term value through both stable cash flow and meaningful redevelopment optionality in a highly supply-constrained corridor. Options range from full site redevelopment to selectively retaining existing improvements while adding premium townhomes. With strong market fundamentals, proven rent growth, and the ability to enhance revenue through strategic upgrades or short-term rental conversion, 1788 Alki Ave SW is a compelling investment offering durable performance and future flexibility.