Listing provided courtesy of COMPASSNWMLSas Distributed by MLSGrid- MLS# NWM2542614MLS Provider

5506 7th Avenue NWSeattle, WA 98107

Multi-Family · 6 Beds · 2,770 Sq. ft. | 0.11 Acres
$1,300,000 Active

5506 7th Avenue NW Overview

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Welcome to this prime Ballard triplex, an exceptional opportunity for investors looking for a well-maintained, income-producing asset in a highly walkable and sought-after Seattle neighborhood. Currently fully tenant-occupied, rents in two units were recently increased to closely reflect current market value, offering a solid foundation with a clear path for continued growth. Two of the units were fully renovated, and every unit comes fully equipped with a range, refrigerator, and dishwasher for everyday convenience. Beyond the individual living spaces, the property features shared on-site coin laundry facilities and two garage spaces, adding significant value and the potential for additional parking or storage revenue. Situated in an incredibly walkable Ballard location, residents have easy access to the neighborhood's renowned dining, shopping, and entertainment. This is a rare chance to own a fully occupied, well-performing asset with clear upside in one of Seattle's strongest rental markets.

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5506 7th Avenue NW Facts & Features

  • Type Multi-Family
  • Sq. ft. 2,770
  • Price/Sq.ft. $469
  • Lot 0.11 Acres

Details

General

Association/HOA

  • Association Fee: $0.00

School Information

  • School District: Seattle
  • Elementary School: Buyer To Verify
  • Middle Or Junior School: Buyer To Verify
  • High School: Buyer To Verify

Income/Expenses

  • Other Expense: 0
  • Electric Expense: 0
  • Fuel Expense: 0
  • Gross Scheduled Income: 87288
  • Insurance Expense: 2239
  • Net Operating Income: 61731
  • Total Expenses: 21193
  • Total Monthly Income: 7274
  • Water/Sewer/Garbage: 6291

Building Information

  • New Construction: No
  • Year Built: 1969

Location/Region

  • Country: US
  • County Or Parish: King
  • MLS Area Major: 705 - Ballard/Greenlake
  • Subdivision Name: Ballard

Tax Information

  • Tax Annual Amount: $12,663.00
  • Tax Year: 2026

General Information

  • Listing Terms: Cash, Conventional, FHA, VA Loan
  • Parcel Number: 2768200090
  • Property Condition: Good
  • Property Sub Type: Multi Family
  • Property Type: Residential Income
  • Senior Community: No
  • Special Listing Conditions: None

Interior

Parking Information

  • Garage Spaces: 2

Beds/Baths

  • Bedrooms Upper: 0

Building Interior

  • Building Area Total: 2770
  • Building Area Units: Square Feet
  • Calculated Square Footage: 2770
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0

General Information

  • Cooling: No
  • Fireplace: No
  • Fireplaces Total: 0
  • Flooring: Vinyl, Vinyl Plank, Carpet
  • Heating: Yes
  • Leasable Area: 2770
  • Living Area: 0
  • Main Level Bathrooms: 0
  • Power Production Type: Electric
  • Security Features: Partially Fenced
  • Stories Total: 2

Exterior

Parking Information

  • Open Parking: No
  • Parking Total: 3
  • Parking Uncovered Total: 3

Lot Information

  • Irrigation Water Rights: No
  • Lot Features: Curbs, Paved, Sidewalk
  • Lot Size Acres: 0.1148
  • Lot Size Square Feet: 5000
  • Lot Size Units: Square Feet
  • Site Features: Fenced-Partially, High Speed Internet, Patio
  • Elevation Units: Feet
  • Water Source: Public

Waterfront/View

  • Waterfront: No

Building Exterior/Construction

  • Roof: Composition
  • Structure Type: Triplex

General Information

  • Carport Spaces: 0
  • Carport: No
  • Covered Spaces: 0
  • Exterior Features: Brick, Cement/Concrete, Stucco
  • Number Of Units Total: 3
  • Sewer: Sewer Connected

Unit Information

Unit 2 Details

  • Actual Rent: 1889
  • Beds Total: 2
  • Baths Total: 1

Unit 3 Details

  • Actual Rent: 2500
  • Beds Total: 2
  • Baths Total: 1

Unit 1 Details

  • Actual Rent: 2885
  • Beds Total: 2
  • Baths Total: 2

5506 7th Avenue NW Neighborhood

Community

98107 (Seattle) Demographics

34
Median Age
11,325
Population Density (per sq. mile)
80%
College Educated
$102,436
Estimated Median Income
5,772
Estimated Total Home Owners
9,074
Estimated Total Renters
39% / 61%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

5506 7th Avenue NW Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

5506 7th Avenue NW Market Data

Based on the last 30 days in this zip code

$842,839
Average List Price
$581
Average Price per Square Foot
30
Properties Sold
47
Average Days on Market
143
Properties for Sale
Calculations provided by Reliance Network

5506 7th Avenue NW History

Date Event Value Agent
6/26/2026Source: NWMLS Added to Database
June 26, 2026
10/7/2025Source: NWMLS Status Change
Sold
9/9/2025Source: NWMLS Status Change
Pending Inspection
8/26/2025Source: NWMLS Added to Database
August 26, 2025
6/20/2022Source: NWMLS Added to Database
June 01, 2021