Views
Address
5506 7th Avenue Nw, Seattle, WA
Price
$ 1,250,000
Property Attributes
- ID#2542614
- TypeMulti-Family
- CountyKING
- CitySeattle
- AreaBallard-Greenlake
- NeighborhoodBallard
- Zip98107
- StyleTri-plex
- Year Built1969
- Taxes$ 12663
- Price$ 1,250,000
- Bedrooms6
- Full Bathrooms4
- Half Bathrooms0
- Sqr Footage2770
- Lot Size0.1148 Acres
Data Source:
Northwest Multiple Listing Service (NWMLS)
Property Description
Welcome to this prime Ballard triplex, an exceptional opportunity for investors looking for a well-maintained, income-producing asset in a highly walkable and sought-after Seattle neighborhood. Currently fully tenant-occupied, rents in two units were recently increased to closely reflect current market value, offering a solid foundation with a clear path for continued growth. Two of the units were fully renovated, and every unit comes fully equipped with a range, refrigerator, and dishwasher for everyday convenience. Beyond the individual living spaces, the property features shared on-site coin laundry facilities and two garage spaces, adding significant value and the potential for additional parking or storage revenue. Situated in an incredibly walkable Ballard location, residents have easy access to the neighborhood's renowned dining, shopping, and entertainment. This is a rare chance to own a fully occupied, well-performing asset with clear upside in one of Seattle's strongest rental markets.
| Elementary School | Middle School | High School |
|---|---|---|
| Buyer To Verify Elementary School | Buyer To Verify Middle School | Buyer To Verify High School |
| Price History | |
|---|---|
| 6/26/2026 | Listed $1,300,000 |
| 8/6/2026 | 4$1,250,000 |
General Features
| Sewer | Sewer Connected |
|---|---|
| Heating | Baseboard |
| Cooling | None |
| Possession | Subject To Tenant Rights |
| Roof | Composition |
| Garage Spaces | 2 |
| Security Features | Partially Fenced |
| Year Built | 1969 |
| View | Territorial |
| Property Subtype | Multi Family |
| Tax Year | 2026 |
| County | King |
| Net Operating Income | 61731 |
| Insurance Expense | 2239 |
| New Construction | No |
| Property Type | Residential Income |
| HOA | No |
| Subdivision Name | Ballard |
| Special Listing Conditions | None |
| Status | Active |
| Directions | Use Google or Apple Maps. |
| High School | Buyer To Verify |
| City | Seattle |
| Senior Community Y/N | No |
| High School District | Seattle |
| Number Of Units Total | 3 |
| MLS Area | 705 - Ballard/Greenlake |
| Lot Size Units | Square Feet |
| Lot Size Square Feet | 5000 |
| Carport Y/N | No |
| Listing Terms | Cash,Conventional,FHA,VA Loan |
| Elementary School | Buyer To Verify |
| Tax Annual Amount | 12663 |
| Middle/Junior High School | Buyer To Verify |
| Property Condition | Good |
| Public Remarks | Welcome to this prime Ballard triplex,an exceptional opportunity for investors looking for a well-maintained,income-producing asset in a highly walkable and sought-after Seattle neighborhood. Current |
| Leasable Area | 2770 |
| Structure Type | Triplex |
| Building Area Units | Square Feet |
| Standard Status | Active |
| Water Company | Seattle Public Utilities |
| Units Below Grade | true |
| Units In Building Total | 3 |
| Water Sewer Garbage | 6291 |
| Property Style | 53 - Tri-plex |
| Cap Rate | 4.74 |
| NWM_ShowMapLink | Yes |
Interior Features
| Flooring | Vinyl,Vinyl Plank,Carpet |
|---|---|
| Total Stories | 2 |
| Air Conditioning Y/N | No |
| Heating Y/N | Yes |
| Fireplace Y/N | No |
| Power Production Type | Electric |
Exterior Features
| Exterior Amenities | Brick,Cement/Concrete,Stucco |
|---|---|
| Lot Features | Curbs,Paved,Sidewalk |
| Water Source | Public |
| Total Parking | 3 |
| Building Area Total | 2770 |
| Lot Size Acres | 0.1148 |
| Waterfront Y/N | No |
| Irrigation Water Rights Y/N | No |
| Site Features | Fenced-Partially,High Speed Internet,Patio |
| Parking Uncovered Total | 3 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 98107
Price
Taxes
Year Built
Visits
In The Neighborhood
Waterfront
Seattle
$ 1,200,000
- Type
- Multi-Family | Active
- Size
- 2,070 SqFt
- Rooms
- 2 Beds + 2 Baths
Listed by: Redfin
Views
Seattle
$ 2,250,000
- Type
- Multi-Family | Active
- Rooms
- 12 Beds + 6 Baths
Listed by: Lee & Associates Commercial RE
Reduced
Seattle
$ 1,540,000
- Type
- Multi-Family | Active
- Size
- 3,320 SqFt
- Rooms
- 5 Beds + 5 Baths
Listed by: Skyline Properties, Inc.
Views
Seattle
$ 1,200,000
- Type
- Multi-Family | Active
- Size
- 2,460 SqFt
- Rooms
- 4 Beds + 2 Baths
Listed by: Windermere Real Estate/HLC
Seattle
$ 950,000
- Type
- Multi-Family | Active
- Size
- 2,520 SqFt
- Rooms
- 4 Beds + 3 Baths
Listed by: Coldwell Banker Bain
Reduced
Seattle
$ 2,650,000
- Type
- Multi-Family | Active
- Size
- 7,120 SqFt
- Rooms
- 11 Beds + 10 Baths
Listed by: L. Dankers Real Estate Group
Seattle
$ 1,274,995
- Type
- Multi-Family | Active
- Size
- 3,400 SqFt
- Rooms
- 4 Beds + 5 Baths
Listed by: Kelly Right RE of Seattle LLC
Seattle
$ 1,650,000
- Type
- Multi-Family | Active
- Size
- 4,890 SqFt
- Rooms
- 8 Beds + 5 Baths
Listed by: RE/MAX Metro Realty, Inc.
Seattle
$ 1,800,000
- Type
- Multi-Family | Active
- Size
- 4,286 SqFt
- Rooms
- 9 Beds + 6 Baths
Listed by: North Pacific Properties
Seattle
$ 1,150,000
- Type
- Multi-Family | Active
- Size
- 2,850 SqFt
- Rooms
- 6 Beds + 3 Baths
Listed by: John L. Scott, Inc
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating
