7329 15th Ave NW - Apartments FOR SALE


Seattle, WA 98117- Loyal Heights
$1,650,000 USD
206-491-2008
7329 15th Ave NW, Seattle, WA for Sale
$1,650,000 USD
Apartments - FOR SALE
1/9
null | 5.8% Cap Rate

7329 15th Ave NW
Seattle, WA 98117
Loyal Heights


HIGHLIGHTS

  • This partially reno'd property presents an opportunity for new ownership to implement a value-add program & increase rents to current market averages
  • Renovations are projected to yield an additional $172 per unit premium, supported by strong effective rent growth in the submarket
  • Prime location for residents, conveniently situated near major transit options and leading regional employers and educational institutions
  • Owner-operated & well maintained with minimal deferred maintenance; recent upgrades include plumbing, water heaters, & electrical panels
  • The area boasts a strong rental market, with 53% of housing units renter-occupied within a 1-mile radius; avg. effective rents reached $2,238 in 4Q24

OVERVIEW

Introducing Loyal Heights 7, a prime investment opportunity located at 7329 15th Ave NW, Seattle, WA 98117. This well-maintained 7-unit property in the desirable Seattle neighborhood of Loyal Heights offers significant upside potential for savvy investors. Loyal Heights 7 presents a value-add opportunity with a potential increase in rents to meet market averages. With renovations projected to yield premium returns per unit, this property is strategically located near major transit options and leading employers like Amazon and the University of Washington. The building has been updated with recent plumbing, water heater, and electrical panel upgrades, ensuring minimal deferred maintenance. In the thriving Ballard submarket, where effective rents have seen steady growth, Loyal Heights 7 is ideal for attracting young professionals seeking convenience and quality living. Don't miss out on this exceptional chance to invest in a promising property with strong submarket fundamentals.

FOR SALE DETAILS

PRICE

$1,650,000 USD

PRICE/SF

$354 USD /SF

# OF UNITS

7

PRICE/UNIT

$235,714

CAP RATE

5.8%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Loyal Heights 7

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1912

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,526 SF

ZONING

NC2-55 (M)

APN/PARCEL ID

751850-0770

ASK ABOUT THIS PROPERTY

Chad BlenzBerkadiaMore Info
206-491-2008

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Chad BlenzBerkadiaMore Info
206-491-2008

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.