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.

About This Property

Listing ID2037776
SqFt 7,568
Acres 0.193
Year Built1948
Property TypeResidential Income
Property Sub TypeMulti-Family
County King
Property Sub Type Multi-Family
Property Type Residential Income
Subdivision Ballard
Year Built 1948
Building Area Units Square Feet
Furnished Unfurnished
Living Area Units Square Feet
Stories Total 2
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
Building Area Total 7568
Country US
High School District Seattle
MLS Area Major 705 - Ballard/Greenlak
Waterfront no
Mls Status Active
Offers Seller intends to review offers upon receipt
Power Production Type Electric
Preliminary Title Ordered no
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.
Active Listing courtesy of Paragon Real Estate Advisors
Active Listing courtesy of Paragon Real Estate Advisors
Data services provided by IDX Broker