Five-Unit Apartment Building
5816 14TH Seattle, WA 98107
For Sale
$1,795,000
Five two-bedroom, two-bath units in a 1978 wood-frame building with dedicated parking and LR3 RC (M1) zoning.
Property Size4,950 SF
Lot Size0.12 Acres
Price / SF$362.63
Days on Market109
Property Features for 5816 14TH
General Information
- Standard status
- Active
- Size
- 4,950 SF
- Lot size
- 0.12 Acres
- Property subtype
- Multi-family
Building Details
- Year Built
- 1978
Listing Agency:
Paragon Real Estate Advisors
Listed By:
Michael Urquhart
(206) 363-8509
Source:
Century21northhomes
Added: Apr 10
Changed: Jul 21
Last Checked: Jul 26 at 11:49PM
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 Paragon Real Estate Advisors
Investment Insights
Based on property information with market context.
Kos Apartments is a five-unit multifamily property featuring all units as two-bedroom, two-bath residences. Constructed in 1978, the building is wood frame and includes double pane vinyl windows and copper plumbing. The property provides five dedicated parking stalls, including four carport stalls. Two of the five units have been renovated and are leased at rents approaching market, while the remaining three units are in original condition and leased month to month, with two tenants in place since 2011.
Located in Seattle’s Ballard neighborhood at 5816 14TH, the property sits on a 5,100 square foot LR3 RC (M1) zoned lot. The unit mix and current occupancy offer straightforward management continuity for an owner considering updates as existing tenancies turn over.
Located in Seattle’s Ballard neighborhood at 5816 14TH, the property sits on a 5,100 square foot LR3 RC (M1) zoned lot. The unit mix and current occupancy offer straightforward management continuity for an owner considering updates as existing tenancies turn over.
Key Highlights
- Five‑unit multifamily in Seattle’s Ballard neighborhood; all units are 2 bed, 2 bath
- Built in 1978 with wood frame construction; double pane vinyl windows and copper plumbing
- Units average 990 SF each, with two units renovated and leased at rents approaching market
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $157.4k | $31.80 |
| − Vacancy | −$5.5k | −$1.11 |
| EGI | $151.9k | $30.69 |
| − OpEx | −$68.4k | −$13.81 |
| NOI | $83.5k | $16.88 |
4,950 SF · lease $31.80/SF/yr · vacancy 3.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.19M
$1.04M – $1.39M
NOI $83,545 @ 7.0% cap · market cap 4.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,246 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Five two-bedroom, two-bath units in a 1978 wood-frame building with dedicated parking and LR3 RC (M1) zoning.
Where is this apartment building located?
The property is located at 5816 14TH Seattle, WA.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: Five‑unit multifamily in Seattle’s Ballard neighborhood; all units are 2 bed, 2 bath; Built in 1978 with wood frame construction; double pane vinyl windows and copper plumbing; Units average 990 SF each, with two units renovated and leased at rents approaching market
