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7329 15th Ave NW
Seattle, WA 98117
Ballard 7 · Multifamily Property For Sale
·
7 Units
Investment Highlights
- Value-Add Opportunity
- Highly Desirable Ballard Location
- Recent Plumbing and Electrical Upgrades
Executive Summary
The Ballard Seven is a 7-unit apartment complex located just blocks from Ballard High School. The property unit mix consists of (1) Studio, (3) 1 bedroom/1bath and (3) 2 bedroom/1bath apartments. One 2 bedroom apartment is 1,100 sf and features a large rooftop terrace. The apartment interiors have been diligently maintained by the current ownership, which includes recent plumbing and electrical upgrades. This offering presents an investor with a cash-flow positive investment on day 1 with a simple value add path to an above market cash on cash return. The property has historically low vacancy and the current rents are within 10% of market rates which offers an attractive risk profile for an investor.
Property Facts
| Price Per Unit | $278,054 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.85% | Lot Size | 0.10 AC |
| Gross Rent Multiplier | 10.08 | Building Size | 4,660 SF |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1912/1976 |
| Property Subtype | Apartment | Parking Ratio | 0.39/1,000 SF |
| Zoning | NC2-55 (M) | ||
| Price Per Unit | $278,054 CAD |
| Sale Type | Investment |
| Cap Rate | 6.85% |
| Gross Rent Multiplier | 10.08 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 4,660 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1912/1976 |
| Parking Ratio | 0.39/1,000 SF |
| Zoning | NC2-55 (M) |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Kitchen
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Walking/Biking Trails
- Roof Terrace
- Storage Space
- Public Transportation
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $1,738 CAD | 300 |
| 1+1 | 3 | $2,019 CAD | 450 |
| 2+1 | 3 | $2,894 CAD | 650 - 1,100 |
Property Taxes
| Parcel Number | 751850-0770 | Improvements Assessment | $662,058 CAD |
| Land Assessment | $1,395,505 CAD | Total Assessment | $2,057,563 CAD |
Property Taxes
Parcel Number
751850-0770
Land Assessment
$1,395,505 CAD
Improvements Assessment
$662,058 CAD
Total Assessment
$2,057,563 CAD
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