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58th Ballard 2226 NW 58th St 20 Unit Apartment Building $7,500,000 ($375,000/Unit) 4.54% Cap Rate Seattle, WA 98107
Investment Highlights
- 2018 Construction
- 97 Walk Score
- Offering One and Two Bedroom Unit Floorplans
- Average Cash Yield of 6.25%
- Parking On-Site Secured Garage
- Strong Renter Demographic with Excellent Retention
Executive Summary
58th Ballard, located in the heart of the popular Ballard neighborhood, offers a vibrant and diverse atmosphere with a range of amenities and job opportunities. Ballard is one of Seattle’s most desirable and supply-constrained neighborhoods. The area bene?ts from strong demographic fundamentals, proximity to major employment hubs, and walkable access to retail, dining, and transit. Ballard’s continued popularity with young professionals and long-term renters supports durable demand and consistent rent growth, positioning the asset well for stable cash ?ow through market cycles.
58th Ballard has been exceptionally maintained with all 20 units offering ef?cient layouts. Interior unit ?nishes consist of new construction features such as luxury vinyl plank ?ooring, quartz countertops, stainless appliances, and modern cabinetry. Each unit features a stackable in-unit Washer/Dryer for tenant convenience. 58th Ballard presents a turn-key opportunity for a future investor with strong rental upside.
58th Ballard has been exceptionally maintained with all 20 units offering ef?cient layouts. Interior unit ?nishes consist of new construction features such as luxury vinyl plank ?ooring, quartz countertops, stainless appliances, and modern cabinetry. Each unit features a stackable in-unit Washer/Dryer for tenant convenience. 58th Ballard presents a turn-key opportunity for a future investor with strong rental upside.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $7,500,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $375,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 4.54% | Building Size | 11,596 SF |
| No. Units | 20 | No. Stories | 6 |
| Property Type | Multifamily | Year Built | 2018 |
| Property Subtype | Apartment | Parking Ratio | 0.27/1,000 SF |
| Zoning | MR RC (M) | ||
| Price | $7,500,000 |
| Price Per Unit | $375,000 |
| Sale Type | Investment |
| Cap Rate | 4.54% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.11 AC |
| Building Size | 11,596 SF |
| No. Stories | 6 |
| Year Built | 2018 |
| Parking Ratio | 0.27/1,000 SF |
| Zoning | MR RC (M) |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Carpet
- Freezer
- Smoke Free
- Quartz Countertops
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Bicycle Storage
- Elevator
- Online Services
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | $2,091 | 460 - 625 |
| 2+1 | 8 | $2,004 | 615 |
1 1
Very walkable
80/100
Fairly drivable
40/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 276760-4170 | Total Assessment | $6,388,000 (2024) |
| Land Assessment | $1,450,000 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $4,938,000 (2024) | Tax Year | 2025 |
Property Taxes
Parcel Number
276760-4170
Land Assessment
$1,450,000 (2024)
Improvements Assessment
$4,938,000 (2024)
Total Assessment
$6,388,000 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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