1719 NW 57th Street, Seattle, WA 98107
- $2,775,000
- 11,794
- SqFt
Listing courtesy of Westlake Associates, Inc.. Selling Office: Paragon Real Estate Advisors.
- Sold Price
- $2,775,000
- List Price
- $2,500,000
- Status
- SOLD
- MLS#
- 2265686
- Closing Date
- Aug 09, 2024
- Days on Market
- 10
- Style
- 56 - 10+ Units
- Finished SqFt
- 11,794
- Area Total SqFt
- 11794
- Annual Tax Ammount
- 38241
- Lot Size (sq ft)
- 10,000
- Sewer
- Sewer Connected
- Offer Review Date
- 2024-07-25
Property Description
Centrally located in the heart of Ballard, this property located at 1719 NW 57th St is ready for the vision of new ownership. On the market for the first time in decades, this 12-unit apartment is comprised of (7) two-bedroom one-bath units, and (5) one-bedroom one-bath units. The building was originally constructed in 1979. Common laundry rooms with coin-op machines are located on the main and top floor. Off-street carport parking is plentiful with 12 covered stalls, and potential space for additional uncovered parking. Property offers investors, as well as developers, several different value-add options. These options include renovating existing units, adding additional units, or simply holding as a land bank for future development.
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Additional Information
- List Date
- 2024-07-30 00:00:00
- Community
- Ballard
- Net Operating Income
- $116,731
- Gross Adjusted Income
- $215,232
- Gross Scheduled Income
- $226,560
- Total Monthly Income
- $18,880
- Insurance Expenses
- $7,714
- Water/Sewer/Garbage Expenses
- $16,158
- Gross Rent Multiplier
- 11.03
- Total Expenses
- $98,501
- Cap Rate
- 4.67
- Vacancy Rate
- 5
- Total Number of Units
- 12
- Unit Name
- 1719
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1979
- Roof
- Flat, See Remarks
- Site Features
- Deck
- Other Expenses
- 36388
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $18,880
- Gross Scheduled Income
- $226,560
- Vacancy Rate
- 5
- Gross Adjusted Income
- $215,232
- Tax Year
- 2024
- Insurance Expense
- $7,714
- W/S/G Expenses
- $16,158
- Total Expenses
- $98,501
- Net Operating Income
- $116,731
- Gross Rent Multiplier
- 11.03
- Cap Rate
- 4.67
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.