This 2015-built property offers immediate upside with current rents averaging 13% below market rate.

At $5.5 million, this property offers compelling value at $130,952 per unit, with recent leases achieving 10% rent increases that demonstrate strong market demand.

Positioned three blocks from Market Street’s retail core and 24th Avenue corridor, with convenient transit access to downtown Seattle employment centers.

2418 Ballard features 42 thoughtfully designed micro units averaging 196 square feet, maximizing functionality through smart layouts and efficient storage; units feature floor-to-ceiling windows, efficient storage design, LVP flooring, and kitchenettes with a microwave and mini fridge. *Features vary by unit.

Amenities include communal kitchens, a shared garden space, rooftop deck, laundry facilities, and high-speed internet to enhance the resident experience.

A Walk Score of 97 and Bike Score of 92 provide residents with the option of car-free living; the property sits less than one mile from the planned Ballard Station, scheduled to connect downtown Seattle by 2039.

The submarket shows 51% renter occupancy, average effective rents of $2,278 (2.2% annual growth), and 95.6% occupancy rates as of Q2 2025.

76% of residents hold a bachelor’s degree or higher, supported by over 1,900+ local establishments employing 20,700+ workers; local household incomes exceed the metro Seattle average by 21%.

Ballard’s five-year population growth is projected at 4.8%, with average household income within three miles expected to reach $341,595 by 2030, supporting continued rental demand.