5816 14th Avenue NW, Seattle, WA 98107
- $1,795,000
- 4,950
- SqFt
Listing courtesy of Paragon Real Estate Advisors.
- List Price
- $1,795,000
- Status
- ACTIVE
- MLS#
- 2531058
- Days on Market
- 58
- Style
- 55 - 5-9 Units
- Finished SqFt
- 4,950
- Area Total SqFt
- 4950
- Annual Tax Ammount
- 17768
- Lot Size (sq ft)
- 5,100
- Sewer
- Sewer Connected
Property Description
Kos Apartments is a five unit multifamily property located in the Ballard neighborhood of Seattle. All five units are two bedroom, two bathroom residences averaging 990 square feet, positioned on a 5,100 square foot LR3 RC (M1) zoned lot. The property was constructed in 1978 and features wood frame construction, double pane vinyl windows, copper plumbing, and five dedicated parking stalls including four carport stalls. Two of the five units have been renovated and are leased at rents approaching market. The remaining three units are in original condition and leased month to month, with two tenants in place since 2011. This tenant structure presents a clean path for a renovation value-add play: as legacy tenants turn, a new owner can renovate the units to the same finish level as the two renovated units, supporting a renovated rent target of $2,550 per unit and a 6.4% proforma cap rate. Ballard continues to see strong rental demand driven by proximity to downtown Seattle, Fremont, and the broader South Lake Union employment corridor, as well as walkable retail, waterfront access, and established transit connectivity.
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Additional Information
- List Date
- 2026-05-29 17:13:16
- Community
- Ballard
- Net Operating Income
- $90,709
- Gross Adjusted Income
- $132,536
- Gross Scheduled Income
- $138,058
- Total Monthly Income
- $11,505
- Insurance Expenses
- $3,878
- Water/Sewer/Garbage Expenses
- $8,498
- Gross Rent Multiplier
- 13
- Total Expenses
- $41,827
- Cap Rate
- 5.05
- Vacancy Rate
- 4
- Total Number of Units
- 5
- Unit Name
- 5816
- Potential Terms
- Cash, Conventional
- Year Built
- 1978
- Roof
- Composition
- Other Expenses
- 11683
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $11,505
- Gross Scheduled Income
- $138,058
- Vacancy Rate
- 4
- Gross Adjusted Income
- $132,536
- Tax Year
- 2026
- Insurance Expense
- $3,878
- W/S/G Expenses
- $8,498
- Total Expenses
- $41,827
- Net Operating Income
- $90,709
- Gross Rent Multiplier
- 13
- Cap Rate
- 5.05
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.