Six-Unit Apartment
For Sale
$2,250,000
1544 NW 53rd St, Seattle, WA 98107
Apartment property with two-bedroom floor plans in Seattle’s Ballard neighborhood.
Property Size4,990 SF
Days on Market55
Property Features for 1544 NW 53rd St
General Information
Standard status
Active
Size
4,990 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
6
Building Details
Building Size
4,990 SF
Year Built
1982
Listed By:
Dea Sumantri
(206) 383-3399
Source:
Lee-associates
Added: Sep 13
Changed: Nov 4
Last Checked: Nov 6 at 5:02AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Dea Sumantri
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Investment Insights
Based on property information with market context.
This six-unit apartment building in Ballard, Seattle, was constructed in 1982 and features two-bedroom floor plans. The property is being offered by the family of its original builder and is being presented for sale for the first time.
Key Highlights
- Six‑unit apartment property
- Two‑bedroom floor plans
- Built in 1982
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$84,220
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,684,400
$1.7M
Cap Rate 7%
$1,203,143
$1.2M
Cap Rate 9%
$935,778
$935.8K
Market Conditions
NOI Build-Up for 4,990 SF
Gross rent
$158.7K $31.80/SF
− Vacancy
−$5.6K −$1.11/SF
EGI
$153.1K $30.69/SF
− OpEx
−$68.9K −$13.81/SF
NOI
$84.2K $16.88/SF
Area
Seattle, WA
Vacancy
3.50%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,684,400
Cap Rate 7%
$1,203,143
Cap Rate 9%
$935,778
Alternative Uses
Best Use
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $84,220 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $105,088 @ 7.0% cap · market cap 4.67%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
4,499
Businesses Nearby
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Business Placement
Demographics for 98107, WA
28,557
Population
16,538
Households
1.7
Avg Household Size
35
Median Age
76%
College-Educated
99%
High-School Grad
2.2 sq mi
ZIP Area
12,980
Density / Sq Mi
$137,748
Median Household Income
$82,884
Median Earnings
$2,194
Median Rent
$924,900
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Seattle, WA
Properties on Market for Apartment buildings in Seattle
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Apartment property with two-bedroom floor plans in Seattle’s Ballard neighborhood.
Where is this apartment building located?
The property is located at 1544 NW 53rd St Seattle, WA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Six‑unit apartment property; Two‑bedroom floor plans; Built in 1982
