2223 - 2225NW 59th St
Seattle WA 98107
Twin Courts Apartments
2223 - 2225NW 59th St Seattle WA 98107
Listing #: 711225 | Status: Available | Last Modified: 4/9/2026 |
For Sale
- Phone:(425) 422-7840
- Email:matt.johnston@kidder.com
- Office Name:Kidder Mathews
- Office Phone:(208) 362-8600
- Office Website:
- Agent Phone:(425) 681-7695
- Agent Email:winslow.lee@kidder.com
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 3,495,000.0
- $/SF$ 364.8
- $/Unit$ 3,495,000.0
- Listing StatusAvailable
- Days on Market25
- Asset ClassMulti-Family
- Terms
- Investment Type
- Investment PropYes
- Gross Income290,400
- Vacancy Factor %5.00%
- Operating Expenses108,973
- Net Operating Income166,907
- CAP Rate 5.19 %
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- Anchor
- CAP Rate 5.19 %
- Building StatusExisting
- # of Buildings2
- # of Floors2
- # of Units14
- # of Elevators0
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF9408
- Net Rentable Area9580
- Total Office SF
- Largest Contiguous SF
- Lot SF10000
- Acres0.23
- Property TypeMulti-Family
- Office Type
- InvestmentYes
- Building ClassC
- CountyKing
- Vicinity
- Location Description
- Second Address
- Cross Street
- Market AreaFremont/Ballard
- Tax ID #2767604115
- Additional Parcels2767604120
- ZoningLR3(M)
- # Covered Spaces6
- # Uncovered Spaces10
- Total Parking Spots16
- Parking Ratio
- Year Built1964
- Year Renovated
- Completion Date
- Roof Type
- Construction TypeFramed, Wood
Twin Courts Apartments
Twin Courts presents a rare multifamily investment in the heart of Ballard, offering two contiguous parcels that create unique long-term exit strategies. The property has undergone substantial capital improvements, including updated electrical panels throughout and one roof being replaced in 2020 and the other in 2016. With 5 of 14 units already renovated, investors can continue the proven value-add program to unlock up to 28% rental growth potential. Efficient, well-designed floorplans drive strong tenant demand, while its highly walkable location ensures long-term desirability. With strong in-place rents, upside through remaining renovations, and flexible ownership options, Twin Courts stands out as a compelling Ballard opportunity.
