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3207 NW 64th St
Seattle, WA 98107
Ballard 5-Unit · Multifamily Property For Sale
·
5 Units
Investment Highlights
- Well-Maintained Single-Story Roman Brick Veneer Building
- Dual East and West Side Entries
- Copper Plumbing & Double-Pane Vinyl Windows
Executive Summary
Originally constructed in 1954, the property consists of a well-maintained single-story Roman brick veneer building featuring four spacious 1-bedroom units averaging approximately 760 SF and one large 2-bedroom unit totaling approximately 1,247 SF. The units feature highly functional floorplans with dual east and west side entries that create a unique “small home” feel rarely found in apartment living. Strong tenant retention speaks to the appeal of both the property and location.
Current ownership has extensively updated and maintained the property over the years. Interior renovations include updated kitchens and bathrooms with new countertops, tile backsplashes, upgraded appliance packages, and refinished original oak hardwood floors throughout. Major capital improvements include copper plumbing supply lines, double-pane vinyl windows, and seismic retrofitting of the foundation.
Additional amenities include ample off-street parking with a 1:1 parking ratio, secure common laundry facilities, and tenant storage lockers. With an in-place NOI of approximately $85,000 and a 5.4% cap rate, 3207 NW 64th St offers investors immediate cash flow, ease of management, and long-term appreciation potential in one of Seattle’s most supply-constrained rental markets.
Current ownership has extensively updated and maintained the property over the years. Interior renovations include updated kitchens and bathrooms with new countertops, tile backsplashes, upgraded appliance packages, and refinished original oak hardwood floors throughout. Major capital improvements include copper plumbing supply lines, double-pane vinyl windows, and seismic retrofitting of the foundation.
Additional amenities include ample off-street parking with a 1:1 parking ratio, secure common laundry facilities, and tenant storage lockers. With an in-place NOI of approximately $85,000 and a 5.4% cap rate, 3207 NW 64th St offers investors immediate cash flow, ease of management, and long-term appreciation potential in one of Seattle’s most supply-constrained rental markets.
Property Facts
| Price Per Unit | $435,155 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.40% | Lot Size | 0.19 AC |
| Gross Rent Multiplier | 11.37 | Building Size | 4,306 SF |
| No. Units | 5 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1954/1996 |
| Property Subtype | Apartment | Parking Ratio | 1.2/1,000 SF |
| Zoning | NR3 - 011 - Apartment | ||
| Price Per Unit | $435,155 CAD |
| Sale Type | Investment |
| Cap Rate | 5.40% |
| Gross Rent Multiplier | 11.37 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 4,306 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1954/1996 |
| Parking Ratio | 1.2/1,000 SF |
| Zoning | NR3 - 011 - Apartment |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $2,800 CAD | 760 |
| 2+1 | 1 | $3,946 CAD | 1,247 |
Property Taxes
| Parcel Number | 690820-0095 | Improvements Assessment | $723,248 CAD |
| Land Assessment | $1,250,249 CAD | Total Assessment | $1,973,496 CAD |
Property Taxes
Parcel Number
690820-0095
Land Assessment
$1,250,249 CAD
Improvements Assessment
$723,248 CAD
Total Assessment
$1,973,496 CAD
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