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Ranjani Ravi

ranjaniravirealty@gmail.com +1(408) 613-7623

Listed by:Lee & Associates Commercial RE • Dea Sumantri

$2,595,000

Est. payment - /mo

14 Beds

11 Baths

10,200 Sqft Lot

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Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Subdivision Ballard

MLS Listing ID 2587105

Style 56 - 10+ Units

Bedrooms 14

Year Built 1959

Annual Tax Amount $27,132

Lot Size 10,200 Sqft

Property Sub-Type Multi Family

Property Description

We are pleased to present the Glen Ellyn Apartments, an 11-unit multifamily property located in Seattle's Ballard neighborhood. Built in 1959, the property consists of eight one-bedroom and three two-bedroom units featuring functional layouts, natural light, and natural hardwood flooring. The units remain in classic but well-maintained condition, providing a strong foundation for future renovation and modernization. The asset has also benefited from several capital improvements, including a roof replacement in 2017, replacement of the individual electrical panels in all units in 2025, and a new rear fence installed in August 2025. Property amenities include covered and off-street parking, storage units, and on-site laundry. The location provides convenient access to Ballard Community Center, QFC, National Nordic Museum, Ballard Avenue & Farmers Market, the Ballard Locks, and the Ballard Public Library, along with the neighborhood's broader retail, dining, and recreational amenities. Current rents are approximately 13% below market, providing near-term income growth potential through future turnover and rent adjustments. Additional upside may be realized through targeted unit renovations and modernization, with renovated rents estimated at approximately 29% above current levels. Further operational upside exists through implementation of utility bill-backs, which are not currently charged, as well as the opportunity to maximize parking income.

Location

State WA

County King

Area 705 - Ballard/Greenlake

Interior

Flooring Hardwood

Fireplace false

Exterior

Exterior Feature Wood

Amenities Available Fenced-Partially

View Y/N No

Roof Type Flat

Building

Lot Description Paved, Sidewalk

Sewer Available

New Construction No

Schools

School District Seattle

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Virtual Tour https://www.lee-associates.com/northwest/properties/?propertyId=1687300-sale&address=6530-24th-Ave-NW&officeId=2085

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Ranjani Ravi

+1(408) 613-7623

Managing Broker License ID: 23004133

6530 24th AVE NW Seattle, WA 98117

Ranjani Ravi

Key Details

Location

Interior

Exterior

Building

Schools

Others