5506 7th Avenue NW, Seattle, WA 98107
- $1,300,000
- 2,770
- SqFt
Listing courtesy of COMPASS.
- List Price
- $1,300,000
- Status
- ACTIVE
- MLS#
- 2542614
- Days on Market
- 30
- Style
- 53 - Tri-plex
- Building Condition
- Good
- Finished SqFt
- 2,770
- Area Total SqFt
- 2770
- Annual Tax Ammount
- 12663
- Lot Size (sq ft)
- 5,000
- Sewer
- Sewer Connected
Property Description
Welcome to this prime Ballard triplex, an exceptional opportunity for investors looking for a well-maintained, income-producing asset in a highly walkable and sought-after Seattle neighborhood. Currently fully tenant-occupied, rents in two units were recently increased to closely reflect current market value, offering a solid foundation with a clear path for continued growth. Two of the units were fully renovated, and every unit comes fully equipped with a range, refrigerator, and dishwasher for everyday convenience. Beyond the individual living spaces, the property features shared on-site coin laundry facilities and two garage spaces, adding significant value and the potential for additional parking or storage revenue. Situated in an incredibly walkable Ballard location, residents have easy access to the neighborhood's renowned dining, shopping, and entertainment. This is a rare chance to own a fully occupied, well-performing asset with clear upside in one of Seattle's strongest rental markets.
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Additional Information
- List Date
- 2026-06-26 23:28:11
- Community
- Ballard
- Net Operating Income
- $61,731
- Gross Adjusted Income
- $82,924
- Gross Scheduled Income
- $87,288
- Total Monthly Income
- $7,274
- Insurance Expenses
- $2,239
- Water/Sewer/Garbage Expenses
- $6,291
- Gross Rent Multiplier
- 14.89
- Total Expenses
- $21,193
- Cap Rate
- 4.74
- Vacancy Rate
- 5
- Total Number of Units
- 3
- Unit Name
- 5506
- Potential Terms
- Cash, Conventional, FHA, VA Loan
- Year Built
- 1969
- View
- Territorial
- Roof
- Composition
- Site Features
- Fenced-Partially, High Speed Internet, Patio
- Energy Source
- Electric
- School District
- Seattle
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Buyer To Verify
- Total Monthly Income
- $7,274
- Gross Scheduled Income
- $87,288
- Vacancy Rate
- 5
- Gross Adjusted Income
- $82,924
- Tax Year
- 2026
- Insurance Expense
- $2,239
- W/S/G Expenses
- $6,291
- Total Expenses
- $21,193
- Net Operating Income
- $61,731
- Gross Rent Multiplier
- 14.89
- Cap Rate
- 4.74
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.