2418 NW 57th Street, Seattle, WA 98107
- $4,300,000
- 12,300
- SqFt
Listing courtesy of Paragon Real Estate Advisors. Selling Office: ZNonMember-Office-MLS.
- Sold Price
- $4,300,000
- List Price
- $4,800,000
- Status
- SOLD
- MLS#
- 2476476
- Closing Date
- Jun 30, 2026
- Days on Market
- 61
- Style
- 56 - 10+ Units
- Finished SqFt
- 12,300
- Area Total SqFt
- 12300
- Annual Tax Ammount
- 41911
- Lot Size (sq ft)
- 10,000
- Sewer
- Sewer Connected
Property Description
Location is everything! Ballard 20 unit built in 1986 offers 14 -1BD units and 6 Large 1BD units. Majority of the units have received updates including refreshed cabinetry, LVP flooring, and a mix of Formica, granite, and quartz countertops. The property presents clear value-add potential through continued interior renovations, operational improvements, and future capital upgrades. Certain building systems remain original, including electrical panels and roofing, providing a buyer with the opportunity to modernize the asset and reposition rents closer to market levels over time. The presence of both covered garage parking and additional surface parking, secured entry, in-unit water tanks, storage units, and on-site laundry further enhances tenant appeal and supports long-term stability.
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Additional Information
- List Date
- 2026-04-30 00:00:00
- Community
- Ballard
- Net Operating Income
- $204,789
- Gross Adjusted Income
- $349,482
- Gross Scheduled Income
- $367,876
- Total Monthly Income
- $30,656
- Insurance Expenses
- $11,911
- Water/Sewer/Garbage Expenses
- $22,156
- Gross Rent Multiplier
- 13
- Total Expenses
- $144,693
- Cap Rate
- 4.27
- Vacancy Rate
- 5
- Total Number of Units
- 21
- Unit Name
- 2418
- Potential Terms
- Cash, Conventional
- Year Built
- 1986
- Roof
- Flat
- Other Expenses
- 68715
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $30,656
- Gross Scheduled Income
- $367,876
- Vacancy Rate
- 5
- Gross Adjusted Income
- $349,482
- Tax Year
- 2025
- Insurance Expense
- $11,911
- W/S/G Expenses
- $22,156
- Total Expenses
- $144,693
- Net Operating Income
- $204,789
- Gross Rent Multiplier
- 13
- Cap Rate
- 4.27
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.