Property Details
6251 3rd Avenue NW
Seattle, WA 98107
$1,125,000
Active
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Property Overview
Seller is offering $25k towards interest rate buy down and/or closing costs – you choose what works best for you! This is your opportunity to purchase a Ballard triplex with strong upside. Rent 2 units and make one your own! Lots of options with this property. Rents are currently below market, offering excellent value-add potential. Each unit features 2 bedrooms, 1 bath, a living room, and dedicated dining space for efficient, comfortable living. Off street parking is available on site. The front unit has a long-term tenant, the 2nd upper unit (west side of building) and lower unit are vacant and available for viewing. Lower unit has new carpet in living room, bedroom and new flooring in kitchen and bathroom. Additional amenities include onsite storage in the lower level and coin operated laundry. Rent and hold as-is or explore redevelopment to maximize the property's land potential. Do not disturb tenants. Showing by appointment only. Showing of occupied unit once under contract. Convenient Ballard location.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
King
Neighborhood
Green Lake
Listed
Jan 9, 2026
Original Price
$1,300,000
Financial Summary
Cap Rate
3.00%
Net Operating Income
$34,531
Gross Scheduled Income
$56,400
Gross Rent Multiplier
20.39
Total Expenses
$21,869
Vacancy Rate
3.0%
Building & Use
Building Sq Ft
2,350
Leasable Area
2,350 sqft
Total Units
3
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
5,001 sqft
Year Built
1963
Exterior & Lot
Lot Size
0.11 sqft
Year Built
1963
Exterior Materials
Brick, Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Curbs, Paved, Sidewalk
Exterior Features
Brick, Wood, Wood Products
Location
City
Seattle
County
King
Coordinates
47.67666, -122.36083
Additional Information
Tax Year
2025
Annual Taxes
$12,889
Possession
Array
Based on information submitted to the MLS GRID as of May 5, 2026 6:30 AM. 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.
