$2,595,000
 $13,931 est/mo Sourced by Back At You

6530 24th Avenue,Seattle, WA 98117

Seattle, WA 98117

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Description

We are pleased to present the Glen Ellyn Apartments, an 11-unit multifamily property located in Seattle's Ballard neighborhood. Built in 1959, the property consists of eight one-bedroom and three two-bedroom units featuring functional layouts, natural light, and natural hardwood flooring. The units remain in classic but well-maintained condition, providing a strong foundation for future renovation and modernization. The asset has also benefited from several capital improvements, including a roof replacement in 2017, replacement of the individual electrical panels in all units in 2025, and a new rear fence installed in August 2025. Property amenities include covered and off-street parking, storage units, and on-site laundry. The location provides convenient access to Ballard Community Center, QFC, National Nordic Museum, Ballard Avenue & Farmers Market, the Ballard Locks, and the Ballard Public Library, along with the neighborhood's broader retail, dining, and recreational amenities. Current rents are approximately 13% below market, providing near-term income growth potential through future turnover and rent adjustments. Additional upside may be realized through targeted unit renovations and modernization, with renovated rents estimated at approximately 29% above current levels. Further operational upside exists through implementation of utility bill-backs, which are not currently charged, as well as the opportunity to maximize parking income.

Details

MLS #2587105
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1959
Days On Site10
Listing Provided ByLee & Associates Commercial RE | Dea Sumantri

Features

SQ Feet8,284
Car PortYes
Story(s)2
Units11
ZoningMulti-Family
Acreage0.23

Taxes

Property27132

Area Information

StateWA
CountyKing
CitySeattle
Zip Code98117
Area705 Ballard | Greenlake
Community NameBallard
Listing VS Median (in Ballard)
Price:
$2,595,000
low | high
Med:
$799,950
100% of Average
sqft:
8,284
low | high
Med:
1,660
100% of Average
$ / sqft:
$313
low | high
Med:
$482
3.835824221742% of Average
On site:
10
low | high
Med:
45
22.222222222222% of Average
Sourced by Back At You

Market Activity 98117

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Learn More About This Property

StateWA
CountyKing
CitySeattle
Zip Code98117
Area705 Ballard | Greenlake
Community NameBallard
Listing VS Median (in Ballard)
Price:
$2,595,000
low | high
Med:
$799,950
100% of Average
sqft:
8,284
low | high
Med:
1,660
100% of Average
$ / sqft:
$313
low | high
Med:
$482
3.835824221742% of Average
On site:
10
low | high
Med:
45
22.222222222222% of Average
Sourced by Back At You
Nearby Listings (Within 1/2 mile)
Price: $1.946M - $3.243M
sqft: 6,000 - 10,000
Nearby Listings Property ImageNearby Listings Details
5920 24th Avenue Property Photo 1
$2,650,000
5920 24th Avenue
Seattle, WA 98107
Listing Updated: September 29, 2026 at 4:48:04 AM PDT