Closed
$4,900,000
Sold For
9,006
SqFt
9,006
SqFt

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
Sold For$4,900,000
StatusClosed
Sold Date11/15/2022
SqFt 9,006
Acres 0.234
CountyKing
SubdivisionWoodland Park
Year Built1990
Property TypeResidential Income
Property Sub TypeMulti-Family
County King
Price Reduction Date 2022-08-29T16:24:20+00:00
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 Sold
Offers Seller intends to review offers upon receipt
Possible Use Multi-Family
Power Production Type Electric
Preliminary Title Ordered yes
Buyer Financing Exchange
Cap Rate 4.29
Gross Adjusted Income 286445
Gross Rent Multiplier 16.9
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

Schedule a Showing - Listing ID 1955227


Please enter your preferences in the form. We will contact you in order to schedule an appointment to view this property. For more immediate assistance, please call WPI Real Estate at 206.522.8172.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

1154 NW 59th Street Seattle, WA 98107

Browse Similar Listings

Similar Listings

Based on information submitted to the MLS GRID as of Thursday, April 18th, 2024 11:47:16 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
#IDX-primaryPhoto,#idx-details-header
Closed Listing courtesy of Westlake Associates, Inc.
#IDX-listingMediaLinks
Closed Listing courtesy of Westlake Associates, Inc.
Data services provided by IDX Broker