2223 NW 59th Street, Seattle, WA 98107

$3,495,000
9,408
SqFt

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Listing courtesy of Kidder Mathews.

List Price
$3,495,000
Status
ACTIVE
MLS#
2504524
Days on Market
109
Style
56 - 10+ Units
Building Condition
Very Good
Finished SqFt
9,408
Area Total SqFt
9408
Annual Tax Ammount
31291
Lot Size (sq ft)
10,000
Sewer
Sewer Connected

Property Description

Twin Courts presents a rare multifamily investment in the heart of Ballard, offering two contiguous parcels that create unique long-term exit strategies. The property has undergone substantial capital improvements, including updated electrical panels throughout and one roof being replaced in 2020 and the other in 2016. With 5 of 14 units already renovated, investors can continue the proven value-add program to unlock up to 28% rental growth potential. Efficient, well-designed floorplans drive strong tenant demand, while its highly walkable location ensures long-term desirability. With strong in-place rents, upside through remaining renovations, and flexible ownership options, Twin Courts stands out as a compelling Ballard opportunity.

Additional Information

List Date
2026-04-08 20:05:12
Community
Ballard
Net Operating Income
$181,428
Gross Adjusted Income
$290,400
Gross Scheduled Income
$278,052
Total Monthly Income
$23,352
Insurance Expenses
$11,678
Water/Sewer/Garbage Expenses
$7,197
Gross Rent Multiplier
19
Total Expenses
$108,973
Cap Rate
5.2
Vacancy Rate
5
Total Number of Units
2
Unit Name
2223
Potential Terms
Cash, Conventional
Year Built
1964
View
City
Roof
Flat
Electric Expenses
7197
Other Expenses
44413
Energy Source
Electric
School District
Seattle
Total Monthly Income
$23,352
Gross Scheduled Income
$278,052
Vacancy Rate
5
Gross Adjusted Income
$290,400
Tax Year
2026
Insurance Expense
$11,678
W/S/G Expenses
$7,197
Total Expenses
$108,973
Net Operating Income
$181,428
Gross Rent Multiplier
19
Cap Rate
5.2
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.
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