Ballard 6 | 6737 16th Ave NW
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Ballard 6 6737 16th Ave NW
6 Unit Apartment Building $1,495,000 ($249,167/Unit) 4.81% Cap Rate Seattle, WA 98117
Investment Highlights
- SELLER FINANCING AVAILABLE
- Significant Value Add Opportunity
- A+ Ballard Location
- First Time on the Market in 30+ Years
Executive Summary
SELLER FINANCING AVAILABLE
Ballard 6 is a true gem situated in an enviable location, just a few blocks from Ballard High School. Built in 1911, the Ballard 6 features five charming one-bedroom, one-bath units and one cozy studio. Available for the first time in over thirty years, it represents a rare investment opportunity. Located in Ballard, one of Seattle’s most desirable neighborhoods, the property benefits from the area’s vibrant mix of trendy restaurants, eclectic shops, lively bars, and craft breweries, all centered around historic Ballard Avenue. Nearby, the iconic Hiram M. Chittenden Locks, commonly known as the Ballard Locks, offer picturesque views and a popular picnic spot, while Golden Gardens Park provides sandy beaches, volleyball courts, and stunning mountain vistas.
Ballard 6 is a true gem situated in an enviable location, just a few blocks from Ballard High School. Built in 1911, the Ballard 6 features five charming one-bedroom, one-bath units and one cozy studio. Available for the first time in over thirty years, it represents a rare investment opportunity. Located in Ballard, one of Seattle’s most desirable neighborhoods, the property benefits from the area’s vibrant mix of trendy restaurants, eclectic shops, lively bars, and craft breweries, all centered around historic Ballard Avenue. Nearby, the iconic Hiram M. Chittenden Locks, commonly known as the Ballard Locks, offer picturesque views and a popular picnic spot, while Golden Gardens Park provides sandy beaches, volleyball courts, and stunning mountain vistas.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$100,800
|
$30.83
|
| Other Income |
$6,960
|
$2.13
|
| Vacancy Loss |
$5,388
|
$1.65
|
| Effective Gross Income |
$102,372
|
$31.31
|
| Taxes |
$12,354
|
$3.78
|
| Operating Expenses |
$18,111
|
$5.54
|
| Total Expenses |
$30,465
|
$9.32
|
| Net Operating Income |
$71,907
|
$21.99
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $100,800 |
| Annual Per SF | $30.83 |
| Other Income | |
|---|---|
| Annual | $6,960 |
| Annual Per SF | $2.13 |
| Vacancy Loss | |
|---|---|
| Annual | $5,388 |
| Annual Per SF | $1.65 |
| Effective Gross Income | |
|---|---|
| Annual | $102,372 |
| Annual Per SF | $31.31 |
| Taxes | |
|---|---|
| Annual | $12,354 |
| Annual Per SF | $3.78 |
| Operating Expenses | |
|---|---|
| Annual | $18,111 |
| Annual Per SF | $5.54 |
| Total Expenses | |
|---|---|
| Annual | $30,465 |
| Annual Per SF | $9.32 |
| Net Operating Income | |
|---|---|
| Annual | $71,907 |
| Annual Per SF | $21.99 |
Property Facts
| Price | $1,495,000 | Property Subtype | Apartment |
| Price Per Unit | $249,167 | Apartment Style | Low Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 4.81% | Lot Size | 0.12 AC |
| Gross Rent Multiplier | 13.78 | Building Size | 3,270 SF |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1911 |
| Price | $1,495,000 |
| Price Per Unit | $249,167 |
| Sale Type | Investment |
| Cap Rate | 4.81% |
| Gross Rent Multiplier | 13.78 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 3,270 SF |
| No. Stories | 2 |
| Year Built | 1911 |
Unit Amenities
- Microwave
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | $1,370 | 579 |
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Walk Score ®
Very Walkable (89)
Bike Score ®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 751850-1530 | Total Assessment | $1,268,000 (2023) |
| Land Assessment | $545,700 (2023) | Annual Taxes | $12,354 ($3.78/SF) |
| Improvements Assessment | $722,300 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
751850-1530
Land Assessment
$545,700 (2023)
Improvements Assessment
$722,300 (2023)
Total Assessment
$1,268,000 (2023)
Annual Taxes
$12,354 ($3.78/SF)
Tax Year
2024
zoning
| Zoning Code | NR3 |
| NR3 |
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Ballard 6 | 6737 16th Ave NW
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