Seven-Unit Apartment
7329 15TH Seattle, WA 98107
7329 15TH, Seattle, WA, 98107
$1,400,000
For Sale
$1,400,000
Well-maintained seven-unit apartment complex with studio, one-bedroom, and two-bedroom apartments.
Property Size4,660 SF
Price / SF$300.43
Days on Market155
Property Features for 7329 15TH
General Information
- Standard status
- Active
- Size
- 4,660 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1912
Listing Agency
Westlake Associates,Inc.
Listed by
River Voorhees
(206) 363-8509
Source
Century21northhomes
Added: Feb 12 Checked: Jul 17 at 10:49 am
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 Westlake Associates,Inc.
Investment Insights
Based on property information with market context.
The Ballard Seven is a 7-unit apartment complex with a unit mix of one studio, three one-bedroom/one-bath units, and three two-bedroom/one-bath units. One of the two-bedroom units includes approximately 1,100 square feet and features a large rooftop terrace. The apartment interiors have been diligently maintained by the current ownership, including recent plumbing and electrical upgrades.
The property is located just blocks from Ballard High School. The offering includes a straightforward tenant-in-place configuration across the seven units.
Current improvements include recent plumbing and electrical work, supporting continued upkeep of the building’s residential units.
The property is located just blocks from Ballard High School. The offering includes a straightforward tenant-in-place configuration across the seven units.
Current improvements include recent plumbing and electrical work, supporting continued upkeep of the building’s residential units.
Key Highlights
- 7‑unit apartment complex built in 1912, with studio, 1‑bedroom/1‑bath, and 2‑bedroom/1‑bath apartments
- Unit mix: 1 studio, 3 one‑bedroom/1‑bath, and 3 two‑bedroom/1‑bath units
- One 2‑bedroom unit includes 1,100 SF and features a large rooftop terrace
Local 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 | $148.2k | $31.80 |
| − Vacancy | −$5.2k | −$1.11 |
| EGI | $143.0k | $30.69 |
| − OpEx | −$64.4k | −$13.81 |
| NOI | $78.7k | $16.88 |
4,660 SF · lease $31.80/SF/yr · vacancy 3.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$983.1K – $1.31M
NOI $78,651 @ 7.0% cap · market cap 5.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,138 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Well-maintained seven-unit apartment complex with studio, one-bedroom, and two-bedroom apartments.
Where is this apartment building located?
The property is located at 7329 15TH Seattle, WA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 7‑unit apartment complex built in 1912, with studio, 1‑bedroom/1‑bath, and 2‑bedroom/1‑bath apartments; Unit mix: 1 studio, 3 one‑bedroom/1‑bath, and 3 two‑bedroom/1‑bath units; One 2‑bedroom unit includes 1,100 SF and features a large rooftop terrace
