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B A L L A R DF I V E U N I T
BALLARD FIVE UNIT
SEATTLE CBD
UW
QUEEN ANNE
BALLARD
GREEN LAKE
FREMONTMAGNOLIAINTERBAY
PHINNEY RIDGE
WALLINGFORD
CROWN HILL
Paragon Real Estate Advisors is pleased to exclusively offer for sale the Ballard Five Unit, a well-maintained building located in one of Seattle’s most desirable rental markets. With a Walk Score of 98, tenants have the luxury of walking to some of Seattle’s most popular restaurants, pubs, breweries, and parks. The convenient location also offers quick access to the city’s employment hubs and most popular neighborhood destinations.
additional add value components. Minor cosmetic touches to the already clean and spacious units can substantially push up rents. Five tandem off-street parking spaces are available for tenants.
NAME Ballard Five Unit
ADDRESS
TOTAL UNITS
BUILT
SQUARE FEET
PRICE
PRICE PER UNIT
PRICE PER FOOT
CURRENT GRM/CAP
MARKET GRM/CAP
LOT SIZE
ZONING
O F F E R I N G
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify all information and bears all risk for inaccuracies.
Well laid out, spacious units
Five storage lockers
Five tandem parking stalls
One block off the Greenwood retail strip
B A L L A R DF I V E U N I T
I N V E S T M E N T H I G H L I G H T S
Ballard is a historic and hip little town located in the northwest region of Seattle. Ballard’s thriving waterfront and blossoming culture makes it one of the most distinguished neighborhoods in Seattle. Once upon a time, Ballard was its own city—a blue-collar, maritime-centric enclave bustling
many of Scandinavian descent. While the historic neighborhood maintains its working waterfront, a lineup of trendy bars, shops, and restaurants, plus a pedestrian-friendly layout, have helped it transform into one of the city’s popular hot spots for visitors and locals alike.
has been attracted to Ballard through new development, the community’s energetic nightlife, award winning restaurants, quality of life, retail amenities, and close vicinity to
rich history, small-town charm, dynamic waterfront and close proximity to Seattle’s most popular neighborhoods make it a prime location to live, work and play.
Residents have immediate access to everything that makes Ballard such a desirable neighborhood including Ballard’s
dining, charming storefronts, live music and offers a pedestrian friendly environment.
more. In addition to several restaurants and
recreational destinations such as the Ballard Sunday Farmers Market, the Ballard locks, Salmon Bay Marina, Shilshole Bay Marina and the beautiful beach front Golden Gardens Park which overlooks the majestic Olympic Mountains, providing a year-round oasis for
B A L L A R D
M A J O R E M P L O Y E R S - C E N T R A L B U S I N E S S D I S T R I C T
M A J O R E M P L O Y E R S - S O U T H L A K E U N I O N
B U I L D I N G P H O T O S
U N I T P H O T O S
U N I T P H O T O S
Unit Breakdown
UNIT
TYPE
APPROXIMATE
UNIT SIZE
CURRENT
RENT
CURRENT
RENT/SQ.FT.
MARKET
RENT
MARKET
RENT/SQ.FT.
4
Totals/Avg 718 Sq.Ft. $1,410 $1.97 $1,859 $2.60
B A L L A R DF I V E U N I T
MONTHLY SCHEDULED INCOME CURRENT MARKET
Gross Potential Rent $7,050 $9,295
Utility Bill Back
Parking
Storage Income
Other Income
Gross Potential Income $7,563 $10,233
CURRENT MARKET
Scheduled Gross Income $90,756 $122,796
Less Vacancy
Gross Operating Income
Less Expenses
Net Operating Income $60,958 $90,164
Cash Flow Before Tax 0.64% $4,241 5.07% $33,447
Principal Reduction
Total Return Before Tax 3.28% $21,676 7.71% $50,882
Real Estate Taxes
Insurance
Utilities
Landscaping
Reserves Proforma
Total Expenses $25,260 $26,492
UNITS UNIT TYPE SIZE CURRENT RENT MARKET RENT
4
5 Total/Avg 718 $1.97 $2.60
Units
Year Built
Rentable Area
Loan Amount
Interest Rate
Price
Per Unit
Per Sq. Ft.
Per Lot Sq. Ft.
Market GRM
Percent of Gross
CUR
RE
NT
MA
RK
ET
Percent of Gross
ANNUALIZED OPERATING EXPENSES
ANNUALIZED OPERATING DATA
Income and Expenses
1614 NW 85th St
1
Oslo
2
1507 NW 64th St
3
4110 Linden
4
S A L E S C O M P A R A B L E S
2636 NW 57th St
5
Phinney Ridge 6 Unit
6
Ballard Five Unit
B A L L A R DF I V E U N I T
3612 Whitman Ave N
7
1
2
3
4
Price:
Total Units: 4Built:
5
7
6
Price:
Total Units: 9Built:
Price:
UnknownTotal Units:
Built:
Price:
Total Units:
Built:
Price:
Total Units:
Built:
Price:
Total Units:
Built:
Price:
Total Units:
Built:
Price:
Total Units:
Built:
Property Unit Type Sq Ft Rent $/SF
2
Ballard Five Unit
Sunset Plaza Apts
3
R E N T C O M P A R A B L E S
4
5
6
1
1
2
3
4
5
6
B A L L A R DF I V E U N I T
@ParagonREA.com
www.ParagonREA.com
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify all information and bears all risk for inaccuracies.