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.
Active
Listed by: COMPASS • Jonathan Tat
Price cut: $50K (8/6)
$1,250,000
5506 7th Avenue NW, Seattle, WA 98107
6beds
4baths
2,770sqft
Triplex, Multi Family
Built in 1969
-- sqft lot
$1,220,200 Zestimate®
$451/sqft
$-- HOA
What's special
- 64 days
- 359
- 23
Zillow last checked:
Listing updated:
Listed by:
Jonathan Tat,
COMPASS,
Elaine Gray,
COMPASS
Source: NWMLS as distributed by MLS GRID,MLS#: 2542614
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 4
Heating
- Baseboard, Electric
Cooling
- None
Features
- Flooring: Vinyl, Vinyl Plank, Carpet
- Has fireplace: No
Interior area
- Total structure area: 2,770
- Total interior livable area: 2,770 sqft
Property
Parking
- Total spaces: 3
- Parking features: Garage
- Garage spaces: 2
- Uncovered spaces: 3
Features
- Has view: Yes
- View description: Territorial
Lot
- Size: 5,000 Square Feet
- Features: Curbs, Paved, Sidewalk, Fenced-Partially, High Speed Internet, Patio
Details
- Parcel number: 2768200090
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Tri-plex
- Property subtype: Triplex, Multi Family
Materials
- Brick, Cement/Concrete, Stucco
- Roof: Composition
Condition
- Good
- Year built: 1969
Utilities & green energy
- Electric: Company: Seattle City Light
- Sewer: Sewer Connected, Company: Seattle Public Utilities
- Water: Public, Company: Seattle Public Utilities
Community & HOA
Community
- Subdivision: Ballard
Location
- Region: Seattle
Financial & listing details
- Price per square foot: $451/sqft
- Tax assessed value: $1,278,000
- Annual tax amount: $12,663
- Date on market: 6/25/2026
- Cumulative days on market: 66 days
- Listing terms: Conventional,FHA,VA Loan
Estimated market value
$1,220,200
$1.16M - $1.28M
$3,241/mo
Price history
| Date | Event | Price |
|---|---|---|
| 8/6/2026 | Price change | $1,250,000-3.8%$451/sqft |
Source:  NWMLS as distributed by MLS GRID #2542614 Report a problem | ||
| 6/26/2026 | Listed for sale | $1,300,000+4%$469/sqft |
Source: NWMLS as distributed by MLS GRID #2542614 Report a problem | ||
| 10/7/2025 | Sold | $1,250,000$451/sqft |
Source: NWMLS as distributed by MLS GRID #2425280 Report a problem | ||
| 9/9/2025 | Pending sale | $1,250,000$451/sqft |
Source: NWMLS as distributed by MLS GRID #2425280 Report a problem | ||
| 8/26/2025 | Listed for sale | $1,250,000+40.4%$451/sqft |
Source: NWMLS as distributed by MLS GRID #2425280 Report a problem | ||
| 3/31/2015 | Sold | $890,000+0%$321/sqft |
Source: NWMLS as distributed by MLS GRID #743733 Report a problem | ||
| 2/12/2015 | Listed for sale | $889,950+78%$321/sqft |
Source: Westlake Associates Inc. Report a problem | ||
| 3/22/2012 | Sold | $500,000-4.8%$181/sqft |
Source: NWMLS as distributed by MLS GRID #50712 Report a problem | ||
| 5/12/2011 | Listing removed | $525,000$190/sqft |
Source: Windermere Real Estate/SCA Inc #50712 Report a problem | ||
| 4/26/2011 | Listed for sale | $525,000$190/sqft |
Source: Windermere Real Estate/SCA Inc #50712 Report a problem | ||
| 3/9/2011 | Listing removed | $525,000$190/sqft |
Source: Windermere Real Estate/SCA Inc #50712 Report a problem | ||
| 2/26/2011 | Price change | $525,000-4.5%$190/sqft |
Source: Windermere Real Estate/SCA Inc #50712 Report a problem | ||
| 12/25/2010 | Price change | $550,000-4.3%$199/sqft |
Source: Windermere Real Estate/SCA Inc #50712 Report a problem | ||
| 11/7/2010 | Price change | $575,000-8%$208/sqft |
Source: Windermere Real Estate/SCA Inc #50712 Report a problem | ||
| 6/9/2010 | Price change | $625,000-3.8%$226/sqft |
Source: Windermere Real Estate/SCA Inc #50712 Report a problem | ||
| 4/30/2010 | Price change | $650,000-3.7%$235/sqft |
Source: Windermere Real Estate/SCA Inc #50712 Report a problem | ||
| 4/4/2010 | Price change | $675,000-3.6%$244/sqft |
Source: Windermere Real Estate/SCA Inc #50712 Report a problem | ||
| 2/11/2010 | Price change | $700,000-6.7%$253/sqft |
Source: Windermere Real Estate/SCA Inc #29144439 Report a problem | ||
| 11/25/2009 | Price change | $750,000-6.3%$271/sqft |
Source: Owner Report a problem | ||
| 10/21/2009 | Listed for sale | $800,000+23.1%$289/sqft |
Source: Windermere Real Estate/SCA Inc #29144439 Report a problem | ||
| 8/2/2006 | Sold | $650,000$235/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $13,647 +6.6% | $1,278,000 -0.9% |
| 2024 | $12,796 +8.4% | $1,290,000 +6.7% |
| 2023 | $11,803 +2.2% | $1,209,000 -8.6% |
| 2022 | $11,549 +1.4% | $1,323,000 +9.9% |
| 2021 | $11,394 +7.1% | $1,204,000 +12.9% |
| 2020 | $10,639 -3.3% | $1,066,000 -4.8% |
| 2019 | $11,001 +14.2% | $1,120,000 +2.8% |
| 2018 | $9,637 -2.5% | $1,089,000 +11.8% |
| 2017 | $9,889 +63.5% | $974,000 +14.1% |
| 2016 | $6,049 | $854,000 +13.7% |
| 2015 | $6,049 | $751,000 +24.1% |
| 2014 | $6,049 | $605,000 +8.4% |
| 2013 | $6,049 | $558,000 -0.9% |
| 2012 | -- | $563,000 -2.3% |
| 2011 | -- | $576,000 +11% |
| 2010 | -- | $519,000 |
| 2009 | -- | $519,000 +10.2% |
| 2007 | -- | $471,000 +2.8% |
| 2006 | -- | $458,000 +9.3% |
| 2005 | -- | $419,000 +27.4% |
| 2001 | $3,858 +1.1% | $329,000 +6.8% |
| 2000 | $3,816 | $308,000 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: West Woodland
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