CBRE has successfully facilitated the sale of AVA Ballard, a multifamily community with 265 units located at 5555 14th Ave. NW in Seattle. The property was sold for $105.5 million to an undisclosed buyer, with CBRE’s Eli Hanacek, Mark Washington and Kyle Yamamoto representing the seller, AvalonBay Communities.
Built in 2013, AVA Ballard offers modern studio, one- and two-bedroom units that have an average size of 717 square feet. These units feature high-end amenities such as quartz countertops, stainless steel appliances and plank hardwood-style flooring. In addition to these luxurious features within each unit are also in-home washers and dryers.
The property is conveniently situated near South Lake Union (a short drive away) as well as Seattle (12 minutes by car), providing easy access to major employment hubs and educational institutions within the region.
According to CBRE’s Hanacek: “AVA Ballard boasts spacious amenities and a prime location in the lively neighborhood of Ballard which made it an extremely attractive investment opportunity.” He further added that due to rising home prices in this highly sought-after area there has been strong leasing momentum along with significant rent growth – trends expected continue into future years.
