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(253) 209-4200
Real Estate Company
2223 NW 59th Street, Seattle, WA 98107
- $3,200,000
- 9,408
- SqFt
Listing Broker: Kidder Mathews; Max Frame; 360-705-2800; max.frame@kidder.com
- List Price
- $3,200,000
- Status
- ACTIVE
- MLS#
- 2592865
- Days on Market
- 0
- Style
- 56 - 10+ Units
- Building Condition
- Good
- Finished SqFt
- 9,408
- Area Total SqFt
- 9408
- Annual Tax Ammount
- 33533
- Lot Size (sq ft)
- 10,000
- Sewer
- Sewer Connected
Property Description
Twin Courts Apartments presents an exceptional investment opportunity in Seattle's highly desirable Ballard neighborhood. The property consists of 14 units across two buildings, featuring 10 one-bedroom and 4 two-bedroom apartments totaling approximately 9,408 rentable square feet. The property offers strong in-place cash flow with a 5.9% cap rate and attractive seller financing options. Recent capital improvements include updated electrical panels, newer TPO roofs, and renovations to 5 of the 14 units, providing additional upside through continued interior improvements and rental growth. Situated on two separate parcels totaling approximately 10,000 square feet, the property features covered and surface parking, on-site laundry, and convenient access to Downtown Ballard's restaurants, shopping, breweries, and entertainment. Twin Courts offers investors a compelling combination of stable income, value-add potential, and a prime Ballard location. Seller financing available; contact listing brokers for details.
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Additional Information
- List Date
- 2026-10-09 15:43:13
- Community
- Ballard
- Net Operating Income
- $188,981
- Gross Adjusted Income
- $300,917
- Gross Scheduled Income
- $272,837
- Total Monthly Income
- $24,038
- Insurance Expenses
- $10,298
- Water/Sewer/Garbage Expenses
- $7,113
- Gross Rent Multiplier
- 17
- Total Expenses
- $111,936
- Cap Rate
- 5.9
- Total Number of Units
- 2
- Unit Name
- 2223
- Potential Terms
- Cash, Conventional
- Year Built
- 1964
- View
- City
- Roof
- Flat
- Electric Expenses
- 7113
- Other Expenses
- 46766
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $24,038
- Gross Scheduled Income
- $272,837
- Gross Adjusted Income
- $300,917
- Tax Year
- 2026
- Insurance Expense
- $10,298
- W/S/G Expenses
- $7,113
- Total Expenses
- $111,936
- Net Operating Income
- $188,981
- Gross Rent Multiplier
- 17
- Cap Rate
- 5.9
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.