7329 15th Ave NW - Apartments FOR SALE


Seattle, WA 98117- Loyal Heights
$1,400,000 USD
206-505-9438
7329 15th Ave NW, Seattle, WA for Sale
$1,400,000 USD
Apartments - FOR SALE
1/16
null | 6.85% Cap Rate

7329 15th Ave NW
Seattle, WA 98117
Loyal Heights


HIGHLIGHTS

  • Value-Add Opportunity
  • Recent Plumbing and Electrical Upgrades
  • Highly Desirable Ballard Location

OVERVIEW

The Ballard Seven is a 7-unit apartment complex located just blocks from Ballard High School. The property unit mix consists of (1) Studio, (3) 1 bedroom/1bath and (3) 2 bedroom/1bath apartments. One 2 bedroom apartment is 1,100 sf and features a large rooftop terrace. The apartment interiors have been diligently maintained by the current ownership, which includes recent plumbing and electrical upgrades. This offering presents an investor with a cash-flow positive investment on day 1 with a simple value add path to an above market cash on cash return. The property has historically low vacancy and the current rents are within 10% of market rates which offers an attractive risk profile for an investor.

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$300 USD /SF

# OF UNITS

7

PRICE/UNIT

$200,000

CAP RATE

6.85%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ballard 7

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1912

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,526 SF

ZONING

NC2-55 (M)

APN/PARCEL ID

751850-0770

ASK ABOUT THIS PROPERTY

River VoorheesWestlake Associates, Inc.More Info
206-505-9438

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River VoorheesWestlake Associates, Inc.More Info
206-505-9438

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.