6530 24th AVE NW, Seattle, WA 98117
6530 24th AVE NW, Seattle, WA 98117
6530 24th AVE NW, Seattle, WA 98117
6530 24th AVE NW, Seattle, WA 98117
6530 24th AVE NW, Seattle, WA 98117
6530 24th AVE NW, Seattle, WA 98117
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Jenn Pederson

Jenn Pederson

+1(808) 205-3000
Listed by:Lee & Associates Commercial RE • Dea Sumantri
$ 2,595,000
Est. payment | /mo

14 Beds

11 Baths

10,200 Sqft Lot

Save Virtual Tour
$ 2,595,000
Est. payment | /mo
Save Virtual Tour

14 Beds

11 Baths

10,200 Sqft Lot

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

Northwest MLS (NWMLS)
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
Nearby Locations
Jenn Pederson

Experience the power of collaboration with Jenn and her Team of highly successful experienced professionals who focus obsessively on the details of your unique needs, process, transactional excellence, and exceeding expectations. With an exceptional reputation, you can expect to inherit decades of resources, connections, and industry/market knowledge required to confidently and successfully execute all your real estate needs.

+1(808) 205-3000

[email protected]

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6530 24th AVE NW