Ravenwood Apartments

Located in Seattle’s popular Ballard neighborhood, Ravenwood is an attractive 14-unit building that has been meticulously maintained. The low maintenance building is comprised of spacious one-bedroom units with high quality finishes that offer desirable modern amenities. The apartments have efficient floor plans that offer an abundance of natural light and open kitchen designs that highlight the stylish stainless appliances. All the units have newly surfaced decks with territorial views of the surrounding urban neighborhood. The property sits on a beautiful residential corner that is adjacent to the new Gemenskap Park, a peaceful greenspace that was a community-initiated project to improve the neighborhood.
Ravenwood has an excellent value-add opportunity for prospective buyers to make easy cosmetic improvements like flooring and surfaces over time and capitalize on the rising rental rates of surrounding newer construction buildings. The current rents are considerably lower than comparable properties which offer immediate upside on turnover. The vacancy rate has historically been very low because residents tend to stay for several years at this pride of ownership property, and the property had no turnover in 2021. Ravenwood Apartments offer an investor the rare opportunity to own a modern turn-key building with stabilized income in one of Seattle’s best rental submarkets with immediate upside potential.