5121 17th Avenue NW, Seattle, WA 98107
- $4,850,000
- 13,800
- SqFt
Listing courtesy of Lee & Associates Commercial RE. Selling Office: Lee & Associates Commercial RE.
- Sold Price
- $4,850,000
- List Price
- $4,995,000
- Status
- SOLD
- MLS#
- 2287605
- Closing Date
- Jan 31, 2025
- Days on Market
- 97
- Style
- 56 - 10+ Units
- Finished SqFt
- 13,800
- Area Total SqFt
- 13800
- Annual Tax Ammount
- 50003
- Internet Provider
- Xfinity
- Lot Size (sq ft)
- 8,250
- Sewer
- Sewer Connected
Property Description
Sunset House is a 21-unit apartment building which exemplifies pride of ownership. Prime Ballard location, walking distance to the Historic Ballard Avenue. Built in 1964, this building is being offered to the market now for the first time since it was built. Immaculate, well-maintained building with PEX & Copper plumbing, vinyl windows, re-mortared exterior bricks, and LVT floorings in most units. Stable rent income with an opportunity to realize a 36.4% lift in revenue from current below-market rents through strategic turnovers and renovation.
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Additional Information
- List Date
- 2024-10-26 00:00:00
- Community
- Ballard
- Net Operating Income
- $241,422
- Gross Adjusted Income
- $366,909
- Gross Scheduled Income
- $386,220
- Total Monthly Income
- $33,710
- Insurance Expenses
- $13,265
- Water/Sewer/Garbage Expenses
- $20,224
- Gross Rent Multiplier
- 14
- Total Expenses
- $145,467
- Cap Rate
- 4.47
- Vacancy Rate
- 5
- Total Number of Units
- 21
- Unit Name
- 5121
- Potential Terms
- Cash Out, Conventional, Rehab Loan
- Year Built
- 1964
- View
- Bay, Territorial
- Roof
- Flat, Torch Down
- Site Features
- Cable TV, Deck, Fenced-Partially, High Speed Internet, Patio, Sprinkler System
- Other Expenses
- 61975
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $33,710
- Gross Scheduled Income
- $386,220
- Vacancy Rate
- 5
- Gross Adjusted Income
- $366,909
- Tax Year
- 2024
- Insurance Expense
- $13,265
- W/S/G Expenses
- $20,224
- Total Expenses
- $145,467
- Net Operating Income
- $241,422
- Gross Rent Multiplier
- 14
- Cap Rate
- 4.47
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.