Available For Sale - Multifamily

5,789 SF | Show Pricing $

Multifamily Space in Seattle for sale

LISTED BY

Candice Chevaillier CCIM
Lee & Associates Commercial Real Estate Services, 206-604-3400
Daniel Lim
Lee & Associates, 206-928-2311
Dea Sumantri
Lee & Associates, 206-383-3399
Chris Larsen
Lee & Associates, 925-719-3480

AVAILABILITY DETAILS

Size
5,789 SF
Price/SF
Show Pricing $
Listing ID
SA540613
Notes
Lee & Associates NW Multifamily Team is pleased to present the exclusive listing of this 6-unit apartment building in Ballard. Situated just few blocks north of the main intersection of Ballard. The location offers excellent access to the retail & nightlife of charming Old Town Ballard District as well as connectivity to the Greater Seattle region via 15th Ave and the Ballard Bridge. The building features a mix of 1 bedroom and rare 2 bedroom with 1.5 bath units with walking closets, these spacious units average 729 sf in size with separate walk-up entrances. Upper level units have private balconies. There is off-street tuck-under parking for 4 vehicles. Parking and utilities are not currently being billed back to the tenants, offering additional income upside. There may also be potential to add an additional unit in the tuck-under parking area (buyer to verify). Property has been well maintained. Current ownership has replaced all hot water heaters within the past couple years, replaced the roof within the last 6 years and installed new carpet, kitchen and bath fixtures as well as painted units upon turn. Approximately half the units have received this turnover treatment. A well-positioned asset within the desirable Ballard neighborhood, this 6-unit presents buyers with multiple investment strategies, from continuing to run as is, enjoying steady cashflows and realizing current loss-to-lease from current below market rents to performing unit renovations, modernizing finishes and exploring additional unit potential to maximize returns.
Uses
Multifamily

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Candice Chevaillier CCIM, Lee & Associates Commercial Real Estate Services