Listed by Westlake Associates, Inc.
$1,400,000
Ballard 7
Details
APN 7518500770
Property Type Multifamily
Sub Type Apartment Building
Square Footage 4,660
Net Rentable (SqFt) 4,050
Units 7
Cap Rate 6.85%
NOI $95,904
Pro-Forma Cap Rate 7.45%
Pro-Forma NOI $104,241
Price per SqFt $300
Year Built 1912
Year Renovated 1976
Buildings 1
Stories 2
Lot Size (SqFt) 4,403
Zoning NC2-55(M)
Parking Spaces 2 spaces
Parking Per SqFt 0.43
Multifamily | 7 Units | $200,000/unit
Marketing description
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.
Listing Contacts
Listed by Westlake Associates, Inc.
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$95,904.00
$7,992.00/mo
Valuation Metrics
0
DSCR
6.85%
Cap Rate
6.85%
ROI
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