10-Unit Apartment Building with
5920 24th Ave NW, Seattle, WA 98107
For Sale
$2,750,000
Fully leased multifamily property in Ballard with laundry facilities, storage lockers, and on-site parking.
Property Size6,650 SF
Price / SF$413.53
Days on Market87
Property Features for 5920 24th Ave NW
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Amenities
laundry room
storage lockers
Building Details
Year Built
Buildings
Listing Agency:
L. Dankers Real Estate Group
Listed By:
David Dankers
(206) 285-2333
Source:
Theinspiregroup
Added: Aug 20
Changed: Nov 5
Last Checked: Nov 12 at 9:43AM
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 L. Dankers Real Estate Group
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Investment Insights
Based on property information with market context.
This 10-unit apartment building was constructed in 1965 and includes nine one-bedroom, one-bath residences plus one two-bedroom, one-bath residence. A first-floor laundry room with storage lockers serves the building. The property also includes three carports and three off-street parking spaces.
Located in Ballard at 5920 24th Ave NW in Seattle, the building is fully leased and offers an established multifamily configuration with a mix of one- and two-bedroom units.
Located in Ballard at 5920 24th Ave NW in Seattle, the building is fully leased and offers an established multifamily configuration with a mix of one- and two-bedroom units.
Key Highlights
- 10‑unit apartment building constructed in 1965
- Unit mix includes 9 one‑bedroom units and 1 two‑bedroom unit
- All units are fully leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$112,238
Cap Rate
4.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,244,760
$2.2M
Cap Rate 7%
$1,603,400
$1.6M
Cap Rate 9%
$1,247,089
$1.2M
Market Conditions
NOI Build-Up for 6,650 SF
Gross rent
$211.5K $31.80/SF
− Vacancy
−$7.4K −$1.11/SF
EGI
$204.1K $30.69/SF
− OpEx
−$91.8K −$13.81/SF
NOI
$112.2K $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%
$2,244,760
Cap Rate 7%
$1,603,400
Cap Rate 9%
$1,247,089
Alternative Uses
Best Use
Apartment 5plus
$1.60M
$1.40M – $1.87M
NOI $112,238 @ 7.0% cap · market cap 4.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $140,047 @ 7.0% cap · market cap 5.09%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
10
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,069
Businesses Nearby
Explore this area
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 - Fully leased multifamily property in Ballard with laundry facilities, storage lockers, and on-site parking.
Where is this apartment building located?
The property is located at 5920 24th Ave NW Seattle, WA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 10‑unit apartment building constructed in 1965; Unit mix includes 9 one‑bedroom units and 1 two‑bedroom unit; All units are fully leased
