Kos Apartments is a five unit multifamily property located in the Ballard neighborhood of Seattle. All five units are two bedroom, two bathroom residences averaging 990 square feet, positioned on a 5,100 square foot LR3 RC (M1) zoned lot. The property was constructed in 1978 and features wood frame construction,… Read More double pane vinyl windows, copper plumbing, and five dedicated parking stalls including four carport stalls. Two of the five units have been renovated and are leased at rents approaching market. The remaining three units are in original condition and leased month to month, with two tenants in place since 2011. This tenant structure presents a clean path for a renovation value-add play: as legacy tenants turn, a new owner can renovate the units to the same finish level as the two renovated units, supporting a renovated rent target of $2,550 per unit and a 6.7% proforma cap rate. Ballard continues to see strong rental demand driven by proximity to downtown Seattle, Fremont, and the broader South Lake Union employment corridor, as well as walkable retail, waterfront access, and established transit connectivity. Read Less
Listing courtesy of Paragon Real Estate Advisors
Listing Snapshot
Cumulative Days On Market
134
Days on Website
131
Last Updated
Property Type
Multi Family
Square Ft.
4,950
Lot Size
0.12 Acres
Year Built
1978
Property Tax
$17,768
MLS Number
2531058
Additional Details
Building
Built in 1978, 2 stories, Construction Materials: Wood
Cooling
None
Expenses
Insurance: $3,878, Other Expense: $11,689
Exterior Features
Wood Products
Floors
Laminate, Carpet
Foundation
Poured Concrete
Heating
Wall Furnace
Home Owner's Association
Association Fee: $0
Income
Gross ScheduledIncome: $138,178, Net Operating Income: $90,818
Lot
0.1171 acres
Parking
4 carport spaces, 4 covered spaces, 5 total parking spaces
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. Listings last updated on ,
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