Property Details
2223 NW 59th Street
Seattle, WA 98107
$3,495,000
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Property Overview
Twin Courts presents a rare multifamily investment in the heart of Ballard, offering two contiguous parcels that create unique long-term exit strategies. The property has undergone substantial capital improvements, including updated electrical panels throughout and one roof being replaced in 2020 and the other in 2016. With 5 of 14 units already renovated, investors can continue the proven value-add program to unlock up to 28% rental growth potential. Efficient, well-designed floorplans drive strong tenant demand, while its highly walkable location ensures long-term desirability. With strong in-place rents, upside through remaining renovations, and flexible ownership options, Twin Courts stands out as a compelling Ballard opportunity.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
King
Neighborhood
Ballard
Listed
Apr 8, 2026
Financial Summary
Cap Rate
5.20%
Net Operating Income
$181,428
Gross Scheduled Income
$278,052
Gross Rent Multiplier
19.00
Total Expenses
$108,973
Vacancy Rate
5.0%
Building & Use
Building Sq Ft
9,408
Leasable Area
9,408 sqft
Total Units
2
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
10,001 sqft
Year Built
1964
Exterior & Lot
Lot Size
0.23 sqft
Year Built
1964
Exterior Materials
Stone, Stucco
Sewer
Sewer Connected
Lot Features
Curbs, Paved, Sidewalk
Exterior Features
Stone, Stucco
Location
City
Seattle
County
King
Coordinates
47.67142, -122.38579
Additional Information
Tax Year
2026
Annual Taxes
$31,291
Possession
Array
Based on information submitted to the MLS GRID as of April 25, 2026 5:11 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
