4.7% Cap | 25 Units | Heart of Ballard

Belcourt Apartments

2021 NW 58th Street ​ | ​ Seattle, WA 98107

Opportunity

Opportunity

Colliers is pleased to present the Belcourt Apartments, a 25-unit core-plus investment located in the heart of Ballard. Opportunity to increase cash flow by renovating the remaining 4 classic units, adding in-unit washer/dryers, and capturing submarket rent growth upon turnover.

 

The building is well maintained with many systems upgrades that allow a new investor to focus CapEx on in-unit renovations and common areas to improve the first impression such as painting the lobby, staircases, and common hall ways. The units are spacious, with efficient floor plans and good natural lighting.

 

  • Classic units ripe for full renovation, and further upside by adding washer/dryer in all units
  • Timeless architecture appeals to broad spectrum of tenants seeking prime location and character not found in typical new buildings

 

 

Address
2021 NW 58th Street, Seattle, WA
 
Price
$6,900,000
 
Price per Unit
$276,000
 
Price per NRSF
$516
 
Current Cap
4.3%
 
Market Cap
4.7%
 
Units
25
 
Year Built
1900
 
​ Average Unit Size
534

 

 
 
Address

2021 NW 58th Street, Seattle, WA

 
Price

$6,900,000

 
Price per Unit

$276,000

 
Price per NRSF

$516

 
Current Cap

4.3%

 
Market Cap

4.7%

 
Units

25

 
Year Built

1900

 
​ Average Unit Size

534

 

Location

Location

Photos

Photos

Contact Us

Contact Us

Tim McKay

Senior Vice President

+1 206 223 5586

Tim.McKay@colliers.com

Dan Chhan

Senior Vice President

+1 206 223 1265

Dan.Chhan@colliers.com

Sam Wayne

Senior Vice President

+1 206 515 4498

Sam.Wayne@colliers.com

Matt Kemper

Vice President

+1 206 877 3378

Matt.Kemper@colliers.com

Adam Groberman

Associate

+1 425 922 3571

Adam Groberman@colliers.com

Tim McKay

Senior Vice President

+1 206 223 5586

Tim.McKay@colliers.com

Dan Chhan

Senior Vice President

+1 206 223 1265

Dan.Chhan@colliers.com

Sam Wayne

Senior Vice President

+1 206 515 4498

Sam.Wayne@colliers.com

Matt Kemper

Vice President

+1 206 877 3378

Matt.Kemper@colliers.com

Adam Groberman

Associate

+1 425 922 3571

Adam Groberman@colliers.com