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 6.4% 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
Building Area Total: 4950, Building Area Units: Square Feet, Calculated Square Footage: 4950, Elevation Units: Feet, Leasable Area: 4950, Living Area: 0, Number Of Units Total: 5, Stories Total: 2, Structure Type: Multi Family, Units In Building Total: 5, Year Built: 1978
Expenses
Other Expense: 11683
Exterior Features
Exterior Features: Wood Products
Fireplaces
Fireplaces Total: 0
Floors
Flooring: "Laminate", "Carpet"
Foundation
Foundation Details: Poured Concrete
Garage
Garage Spaces: 0
Home Owner's Association
Association Fee: $0
Income
Net Operating Income: 90709
Lot
0 acres, 5100 square feet
Property
Zoning Description: Multi-Family
Roof
Roof: Composition
Sewer
Sewer: Sewer Connected
Utilities
Electric Expense: 0, Fuel Expense: 0, Power Production Type: Electric, Water Source: Public
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 ,
Confirm your time
Fill in your details and we will contact you to confirm a time.