2232 NW 58th Street, Seattle, WA 98107
- $1,600,000
Listing courtesy of Blake Investment Advisors. Selling Office: Westlake Associates, Inc..
- Sold Price
- $1,600,000
- List Price
- $1,639,000
- Status
- SOLD
- MLS#
- 2397581
- Closing Date
- Jun 10, 2026
- Days on Market
- 284
- Style
- 55 - 5-9 Units
- Building Condition
- Very Good
- Annual Tax Ammount
- 14936
- Lot Size (sq ft)
- 5,000
- Sewer
- Sewer Connected
Property Description
5.61% In-Place Cap Rate | The Ballard Commons 5 was built in 1979 and features five large 925-square-foot, 2-bedroom, 2-bathroom apartments, each with a master bedroom and en-suite bathroom. Amenities include a shared coin-operated laundry room, 4 covered carport parking stalls, private balconies, and wood-burning fireplaces for all units. Apartments are heated by either electric baseboard or forced-air wall heaters, and the plumbing is copper. Ownership has made ongoing interior improvements, with units 2,4, and 5 featuring luxury vinyl plank flooring or new carpeting, updated cabinetry, modern kitchen appliances, and updated bathroom fixtures. Unit 4 is the owner's unit and is fully renovated.
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Additional Information
- List Date
- 2025-08-30 00:00:00
- Community
- Ballard
- Net Operating Income
- $91,894
- Gross Adjusted Income
- $141,469
- Gross Scheduled Income
- $137,464
- Total Monthly Income
- $12,132
- Insurance Expenses
- $5,575
- Water/Sewer/Garbage Expenses
- $11,570
- Gross Rent Multiplier
- 11.9
- Total Expenses
- $41,831
- Cap Rate
- 5.61
- Vacancy Rate
- 3
- Total Number of Units
- 5
- Unit Name
- 2232
- Potential Terms
- Conventional
- Year Built
- 1979
- Roof
- Flat
- Other Expenses
- 9750
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $12,132
- Gross Scheduled Income
- $137,464
- Vacancy Rate
- 3
- Gross Adjusted Income
- $141,469
- Tax Year
- 2025
- Insurance Expense
- $5,575
- W/S/G Expenses
- $11,570
- Total Expenses
- $41,831
- Net Operating Income
- $91,894
- Gross Rent Multiplier
- 11.9
- Cap Rate
- 5.61
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.