Kos Apartments
5816 14th ave NW, Seattle, WA 98107
Property Type Multi-family
Price $1,795,000
Status Active
Property Highlights:
- Five unit Ballard apartment building offered at a 5.1% current cap, expanding to a 6.6% renovation cap rate
- All units are 2BD/2BTH at 990 SF, a large unit configuration in comparison to the Ballard multifamily inventory
- The market supports a $2,625 rent target for renovated units which is a $653 per unit lift over current non-renovated units
- Copper plumbing, GE panels, and double pane vinyl windows limit capital investment to purely cosmetic interior renovations
- LR3 RC (M1) zoning preserves long term development optionality
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