Renovated Duplex
For Sale
$1,195,000
6753 14TH, Seattle, WA 98117
Two residences provide a flexible configuration for rental income, owner occupancy, or multigenerational living.
Property Size3,300 SF
Price / SF$362.12
Days on Market142
Property Features for 6753 14TH
General Information
Standard status
Active
Size
3,300 SF
Property subtype
Multi-family
Zoning
LR2-RC
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HS NW
Listed By:
Martin J. Ho
(206) 363-8509
Source:
Century21northhomes
Added: Mar 29
Changed: Aug 17
Last Checked: Aug 17 at 8:02AM
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 Berkshire Hathaway HS NW
Investment Insights
Based on property information with market context.
This 3,300-square-foot duplex was built in 1900 and thoughtfully renovated, combining historic character with updated functionality. The property includes a 4-bedroom, 3-bath upper residence and a 2-bedroom, 1-bath lower unit, creating a two-unit configuration with separate living arrangements.
Located in Ballard at 6753 14TH, Seattle, WA 98117, the property is near restaurants, coffee shops, breweries, grocery stores, parks, public transit, Downtown Ballard, and Golden Gardens. LR2-RC zoning is identified for residential and commercial uses. The property is also positioned near major employment centers and transit routes.
Located in Ballard at 6753 14TH, Seattle, WA 98117, the property is near restaurants, coffee shops, breweries, grocery stores, parks, public transit, Downtown Ballard, and Golden Gardens. LR2-RC zoning is identified for residential and commercial uses. The property is also positioned near major employment centers and transit routes.
Key Highlights
- 3,300‑square‑foot duplex built in 1900
- Thoughtfully renovated while retaining historic character
- Upper residence includes 4 bedrooms and 3 baths
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$59,563
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.98%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,191,260
$1.2M
Cap Rate 7%
$850,900
$850.9K
Cap Rate 9%
$661,811
$661.8K
Market Conditions
NOI Build-Up for 3,300 SF
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.
Gross rent
$89.1K $27.00/SF
− Vacancy
−$4.0K −$1.22/SF
EGI
$85.1K $25.79/SF
− OpEx
−$25.5K −$7.74/SF
NOI
$59.6K $18.05/SF
Area
Seattle, WA
Vacancy
4.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,191,260
Cap Rate 7%
$850,900
Cap Rate 9%
$661,811
Alternative Uses
Best Use
Multifamily LT 5
$850.9K
$744.5K – $992.7K
NOI $59,563 @ 7.0% cap · market cap 4.98%
Second Best
Apartment 5plus
$795.7K
$696.2K – $928.3K
NOI $55,697 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$992.8K
$868.7K – $1.16M
NOI $69,497 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
864
Businesses Nearby
Explore this area
Business Placement
Demographics for 98117, WA
35,608
Population
15,230
Households
2.3
Avg Household Size
39
Median Age
75%
College-Educated
98%
High-School Grad
3.9 sq mi
ZIP Area
9,130
Density / Sq Mi
$182,500
Median Household Income
$95,616
Median Earnings
$2,197
Median Rent
$1,028,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences provide a flexible configuration for rental income, owner occupancy, or multigenerational living.
Where is this duplex located?
The property is located at 6753 14TH Seattle, WA.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: 3,300‑square‑foot duplex built in 1900; Thoughtfully renovated while retaining historic character; Upper residence includes 4 bedrooms and 3 baths
