VALUE-ADD 10 UNIT APARTMENT IN BALLARD, WA
Buena Vista is a 10-unit apartment investment in the heart of Ballard, just three blocks from Downtown Ballard and two blocks from Rapid Ride bus transit. The Buena Vista Apartments are perfectly situated for tenants to take advantage of all the fun and games Ballard has to offer, with the option to easily access Downtown Seattle, South Lake Union, and beyond.
The apartments offer a good mix of studios and 1-bedrooms, averaging about 390 square feet, with manicured grounds and two large parking spaces. Some units have received varying degrees of upgrades over the years while others are ripe for modernization and an increase to market rents. The current owners have meticulously maintained the Buena Vista for over 25 years, but the time has come for a new investor to make their mark and take advantage of one of the best rental markets on the West Coast.
THE DYNAMIC NEIGHBORHOOD OF BALLARD
From a once sleepy Scandinavian fishing and boat-building town to a cultural center dominated by young professionals, Ballard has transformed into an energetic neighborhood with excellent parks, restaurants, and entertainment. The largest percentage of Ballard’s population belongs to 25-34 year olds, making up 23% of residents and contributing to the healthy rental market. Approximately 58,954 people live within a one-mile radius of Buena Vista with a median age of 39.5. There are roughly 28,343 households with an average size of 2.08 persons. Most residents live with a partner or roommate and no children.
Ballard household income levels exceed the surrounding area with an average household income of $109,458 and a median of $85,117. These numbers are estimated to increase to $122,858 and $93,642, respectively, by 2022. Unemployment hovers at a comfortable 3.83%. Ballard’s residents value public transportation, as 21% of the local population commute by bus.
CONTACT OUR TEAM
Colliers International WA LLC is the exclusive Listing Brokerage for this Offering.
Tim McKay, Dan Chhan, and Sam Wayne exclusively represent the Seller in the sale of the Buena Vista Apartments in Ballard, WA.
Senior Vice President
+1 206 223 5586
Senior Vice President
+1 206 223 1265
+1 206 515 4498
601 Union St., Ste. 5300
Seattle, WA 98101