Property Details
801 NW 54th Street
Seattle, WA 98107
$2,890,000
Active
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Property Overview
Gilman Park Plaza – Current Cap of 6.46% with in place rent. 16 units in the prime Ballard neighborhood consists of 15 1Bed/1Ba units and one 2Bed/1Ba. 7 off street parking spaces, extra onsite storage stalls for extra income. Upgrades to the property in the last two years include a new TPO roof was installed in 2024, updated sewer lines along with exterior paint. Located close to mass transit and a walk score of 86/100 making this an ideal investment for future growth in one of the most bustling and vibrant neighborhoods in Seattle.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
King
Neighborhood
Ballard
Listed
Oct 16, 2025
Original Price
$3,200,000
Financial Summary
Cap Rate
6.46%
Net Operating Income
$186,785
Gross Scheduled Income
$278,916
Gross Rent Multiplier
10.37
Total Expenses
$77,843
Vacancy Rate
5.0%
Building & Use
Building Sq Ft
6,560
Leasable Area
6,560 sqft
Total Units
16
Lot Size
8,799 sqft
Year Built
1954
Exterior & Lot
Lot Size
0.20 sqft
Year Built
1954
Exterior Materials
Brick, Metal/Vinyl, See Remarks
Sewer
Sewer Connected
Water Source
Public
Lot Features
Corner Lot
Exterior Features
Brick, Metal/Vinyl, See Remarks
Location
City
Seattle
County
King
Coordinates
47.66766, -122.36652
Additional Information
Tax Year
2025
Annual Taxes
$25,238
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.
