801 NW 54th St - Apartments FOR SALE


Seattle, WA 98107- West Woodland
$3,200,000 USD
425-422-7931
801 NW 54th St, Seattle, WA for Sale
$3,200,000 USD
Apartments - FOR SALE
1/10
null | 5.87% Cap Rate

801 NW 54th St
Seattle, WA 98107
West Woodland


HIGHLIGHTS

  • 15 one-bedroom / one-bath units and 1 two-bedroom / one-bath unit
  • Coin-operated laundry for additional income Extra on-site storage for tenants
  • Seven parking spaces (currently uncharged)
  • Updated sewer lines
  • New roof completed in 2024
  • Excellent Ballard location near shops, dining, and major transit routes

OVERVIEW

Investment Sales Group & Keller Williams Commercial are pleased to offer for sale a 16-unit apartment building located in the heart of Ballard, one of Seattle’s most desirable and highest-performing multifamily submarkets. The property presents an exceptional opportunity to acquire a stabilized asset with both durable cash flow and meaningful upside potential. Situated within walking distance of Ballard Avenue’s retail core, breweries, and transit options, this well-maintained property appeals to a broad renter base seeking the neighborhood’s vibrant mix of amenities and accessibility to downtown Seattle and South Lake Union employers. The building consists of 15 one-bedroom / one-bath units and one two-bedroom / one-bath unit, supported by on-site coin-operated laundry, additional storage spaces, and seven parking stalls that are not currently being charged for—offering immediate income growth potential. Recent capital improvements, including updated sewer lines and a brand-new roof completed in 2024, further strengthen the property’s long-term stability and performance. Property Highlights: 15 one-bedroom / one-bath units and 1 two-bedroom / one-bath unit Coin-operated laundry for additional income Extra on-site storage for tenants Seven parking spaces (currently uncharged) Updated sewer lines New roof completed in 2024 Excellent Ballard location near shops, dining, and major transit routes Strong rental demand and consistent historical occupancy

FOR SALE DETAILS

PRICE

$3,200,000 USD

PRICE/SF

$449 USD /SF

# OF UNITS

16

PRICE/UNIT

$200,000

CAP RATE

5.87%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Gilman Park Plaza

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1954

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,799 SF

ZONING

LR2 (M)

APN/PARCEL ID

122503-9002

ASK ABOUT THIS PROPERTY

Corey CrainKeller Williams Commercial Real EstateMore Info
425-422-7931

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Corey CrainKeller Williams Commercial Real EstateMore Info
425-422-7931

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