1446 53Rd StSeattle, WA 98107

Property Details for 1446 53Rd St

Year built

2024

Lot size

0.11 AC

Property type

Apartment buildings

Description

Chinook Ballard presents a compelling investment opportunity in Seattle's highly desirable Ballard neighborhood. This brand-new, Class A, eight-story apartment building boasts 56 units, including a mix of studio, one-bedroom, and one-bedroom lofts, totaling 20,108 net rentable square feet. Built in 2024 on a 0.11-acre lot, the property features a controlled-access ground-floor lobby and common area, along with in-unit washers and dryers. Currently operating at 61% occupancy (as of November 6th, 2024), the building offers an average effective rent of $2,249 per month in the third quarter of 2024. The property benefits from a 12-year property tax exemption due to 14 affordable units. Its prime location provides exceptional walkability and bikeability, boasting Walk and Bike Scores of 96 and 98, respectively. Furthermore, its proximity to the proposed Sound Transit Ballard Link Light Rail station promises enhanced connectivity. The building is zoned C1-75 (M) and has a King County APN of 276830-0505. The asking price is $11,745,000, translating to $209,732.14 per unit. The strong renter pool within a one-mile radius (49% of the population) and projected median household income growth exceeding 29.6% over the next five years further solidify this investment's potential.

Location Insight

City

Seattle

County

King

State

Washington

Latitude

47.6674

Longitude

-122.376

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].