6530 24th Ave NW

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Address: 6530 24th Ave NW, Seattle, WA 98117, USA
Seattle & Northwest + Apartment Buildings
Created date: September 23, 2026
Date last updated: September 23, 2026
Price: $2,595,000Investment Analyzer NEW!
  • Prime Ballard Location: Close to QFC, Ballard Avenue, transit, neighborhood retail, dining, recreation, and everyday amenities.
  • Value-Add Potential: Classic, well-maintained units offer a clear path to modernization and approximately 29% rental upside.
  • Additional Income Opportunities: Utility bill-backs and optimized parking charges provide further opportunities to increase revenue.
  • Recent Capital Improvements: A newer roof, new electrical panels in all units, and a new rear fence help reduce near-term capital needs.

Property Description

The Lee & Associates Northwest | Multifamily Team is 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.
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Broker Details

Dea Sumantri
Dea Sumantri

Lee & Associates Commercial Real Estate Services 206-773-2680

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: Apartment Buildings
Price: $2,595,000
No. of Units: 11
Year Built: 1959
Lot Size: 0.23 Acres
Opportunity Zone: No
Price per unit: $235,909
Property Website Click Here
Address: 6530 24th Ave NW, Seattle, WA 98117, USA
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