Active · Residential Income

6530 24th Avenue NW, Seattle, WA 98117

Seattle, WA 98117

$2,595,000

— bedrooms · — bathrooms · 0 sq ft

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Listing provided by Lee & Associates Commercial RE · MLS #2587105 · Active

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About this property

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.

Property details

Property type: Multi Family
Year built: 1959
Lot size: 10,200 sq ft
Association dues: $0 · frequency not provided
Annual property tax: $27,132 (2026)
Parking spaces: 9
School district: Seattle

Listings courtesy of Northwest MLS as distributed by MLS GRID.

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