Active

$3,250,000

Price

7,568

SqFt

7,568

SqFt

5401 34th Avenue NW

Seattle, Washington WA98107

This 10-unit apartment community sits on a quiet cornet lot in West Ballard just across the street from the Ballard locks. The current owner has remodeled 7 out of 10 units with high end finishes including quartz countertops, stainless steel appliances, new cabinetry/millwork, as well as fully updated bathrooms. The exterior improvements include a new roof, awnings and exterior paint. This offering is a great opportunity to own a stabilized asset in a core Seattle neighborhood primed for future growth.

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About This Property

Schools

Walkscore

Overview

Listing ID2037776

Price$3,250,000

StatusActive

SqFt 7,568

Acres 0.193

CountyKing

SubdivisionBallard

Year Built1948

Property TypeResidential Income

Property Sub TypeMulti-Family

Primary Features

County King

Property Sub Type Multi-Family

Property Type Residential Income

Subdivision Ballard

Year Built 1948

Interior

Building Area Units Square Feet

Furnished Unfurnished

Living Area Units Square Feet

Stories Total 2

External

Elevation Units Feet

Exterior Features Wood Products

Lot Size Square Feet 8421

Lot Size Units Square Feet

MLS Lot Size Source King County

Number Of Units Total 10

Open Parking Spaces 8

Parking Total 8

Parking Uncovered Spaces 8

Roof Flat

Sewer Sewer Connected

Structure Type Multi Family

Style Code 56 - 10+ Units

Units Below Grade false

Units In Building Total 10

Water Sewer Garbage 12857

Location

Building Area Total 7568

Country US

High School District Seattle

MLS Area Major 705 - Ballard/Greenlak

Waterfront no

Additional

Mls Status Active

Offers Seller intends to review offers upon receipt

Power Production Type Electric

Preliminary Title Ordered no

Show Map Link yes

Financial

Cap Rate 5.16

Gross Adjusted Income 227875

Gross Rent Multiplier 13.55

Gross Scheduled Income 239868

Insurance Expense 3072

Leasable Area 7568

Leasable Area Units Square Feet

Leased Items None

Net Operating Income 167794

Other Expense 19900

Possession Closing

Sale Type MLS

Seller Disclosure Not Provided

Special Listing Conditions None

Tax Annual Amount 24251

Tax Year 2022

Total Expenses 60080

Total Monthly Income 19989

Vacancy Rate 5

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5401 34th Avenue NW 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. © 2023 NWMLS. All rights reserved. Data last updated: Sunday, March 26th, 2023 08:17:02 AM.

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