1154 NW 59th Street

Seattle, Washington WA98107

Located in Seattle’s popular Ballard neighborhood, Ravenwood is an attractive 14-unit building that has been meticulously maintained. The low maintenance building is comprised of spacious one-bedroom units with high quality finishes that offer desirable modern amenities. The apartments have efficient floor plans that offer an abundance of natural light and open kitchen designs that highlight the stylish stainless appliances. All the units have newly surfaced decks with territorial views of the surrounding urban neighborhood. Ravenwood has an excellent value-add opportunity for prospective buyers to make easy cosmetic improvements like flooring & surfaces over time and capitalize on the rising rental rates of surrounding newer construction.

About This Property

Listing ID1955227
SqFt 9,006
Acres 0.234
SubdivisionWoodland Park
Year Built1990
Property TypeResidential Income
Property Sub TypeMulti-Family
County King
Property Sub Type Multi-Family
Property Type Residential Income
Subdivision Woodland Park
Year Built 1990
Building Area Units Square Feet
Furnished Unfurnished
Heating Cooling Type Wall
Living Area Units Square Feet
Stories Total 3
Elevation Units Feet
Exterior Features Wood
Lot Size Square Feet 10200
Lot Size Units Square Feet
MLS Lot Size Source King County Assessor
Number Of Units Total 14
Open Parking Spaces 16
Parking Total 16
Parking Uncovered Spaces 16
Roof Composition
Sewer Sewer Connected
Structure Type Multi Family
Style Code 56 - 10+ Units
Units Below Grade false
Units In Building Total 14
Utilities Sewer Connected, Electricity Available
Water Sewer Garbage 14482
Building Area Total 9006
Country US
High School District Seattle
MLS Area Major 705 - Ballard/Greenlak
Waterfront no
Zoning Class Multi-Family
Zoning Jurisdiction City
Mls Status Active
Offers Seller intends to review offers upon receipt
Possible Use Multi-Family
Power Production Type Electric
Preliminary Title Ordered yes
Cap Rate 4.08
Gross Adjusted Income 286445
Gross Rent Multiplier 18
Gross Scheduled Income 295304
Insurance Expense 4750
Leasable Area 9006
Leasable Area Units Square Feet
Leased Items None
Net Operating Income 214306
Other Expense 17420
Possession Closing
Sale Type MLS
Seller Disclosure Not Provided
Special Listing Conditions None
Tax Annual Amount 35487
Tax Year 2022
Total Expenses 72139
Total Monthly Income 24608
Vacancy Rate 3

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1154 NW 59th Street Seattle, WA 98107

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The database information herein is provided from the Northwest Multiple Listing Service (NWMLS). NWMLS data may not be reproduced or redistributed and is only for people viewing this site. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. The information contained in this listing has not been verified by WPI Real Estate Services, Inc. (7101) and should be verified by the buyer. © 2022 NWMLS. All rights reserved. Data last updated: Thursday, July 7th, 2022 08:51:33 AM.
Active Listing courtesy of Westlake Associates, Inc.
Active Listing courtesy of Westlake Associates, Inc.
Active Listing courtesy of Westlake Associates, Inc.
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