Properties for Sale
Gilman Park Plaza
Eastlake Development Site
2621 Eastlake Ave E, Seattle, WA
The Gilman Park Plaza is a sixteen-unit apartment building located in Ballard, Washington. It consists of fifteen one-bedroom, one-bath efficiency units and one two-bedroom, one bath unit. It is being offered for sale for the first time in twenty years. Because of its location and affordability, units are quick to rent.
The building has low maintenance masonry construction. The street contains upscale townhomes and with the Zoning – Multiple Low Rise 2, the property is well positioned for future townhome construction.
Each unit has a private bedroom, pass by kitchen, and living room, providing more privacy than an open studio design. There are six open parking stalls and available street parking. Some units have been upgraded with countertops, plank flooring, and dishwashers. The property should provide a new owner increased income by completing the unit upgrades. Ample reserves ($2,000.00) per unit should be able to fund the ongoing upgrades on turnover.
The Gilman Park Plaza provides a new or experienced owner with a efficient, well located building with true economic upside.