Listing courtesy of Lee & Associates Commercial RE
$2,595,000
We are pleased to present the Glen Ellyn Apartments, an 11-unit multifamily property located in Seattle’s Ballard neighborhood. Built in 1959, the property consists of eight one-bedroom and three two-bedroom units featuring functional layouts, natural light, and natural hardwood flooring. The units remain in classic but… Read More well-maintained condition, providing a strong foundation for future renovation and modernization. The asset has also benefited from several capital improvements, including a roof replacement in 2017, replacement of the individual electrical panels in all units in 2025, and a new rear fence installed in August 2025. Property amenities include covered and off-street parking, storage units, and on-site laundry. The location provides convenient access to Ballard Community Center, QFC, National Nordic Museum, Ballard Avenue & Farmers Market, the Ballard Locks, and the Ballard Public Library, along with the neighborhood’s broader retail, dining, and recreational amenities. Current rents are approximately 13% below market, providing near-term income growth potential through future turnover and rent adjustments. Additional upside may be realized through targeted unit renovations and modernization, with renovated rents estimated at approximately 29% above current levels. Further operational upside exists through implementation of utility bill-backs, which are not currently charged, as well as the opportunity to maximize parking income. Read Less
Listing courtesy of Lee & Associates Commercial RE
Listing Snapshot
Cumulative Days On Market
16
Days on Website
16
Last Updated
Property Type
Multi Family
Square Ft.
8,284
Lot Size
0.23 Acres
Year Built
1959
Property Tax
$27,132
MLS Number
2587105
Additional Details
Building
Built in 1959, Built in 1988 (effective), 2 stories, Construction Materials: Wood
Cooling
None
Expenses
Insurance: $7,839, Other Expense: $23,033
Exterior Features
Wood
Floors
Hardwood
Foundation
Poured Concrete
Heating
Baseboard
Home Owner's Association
Association Fee: $0
Income
Gross ScheduledIncome: $210,360, Net Operating Income: $133,393
Lot
0.2342 acres, Paved, Sidewalk
Parking
4 carport spaces, 4 covered spaces, 9 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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