10625 22nd Pl S Seattle, WA 98168
Stabilized 18-unit multifamily property in South Seattle with strong income.
- Added:
- May 14, 2026
- Days on Market:
- 59
- Last Refresh:
- Jul 3 at 5:47 am
Property Features for 10625 22nd Pl S
General Information
- Standard status
- Active
- Size
- 12,130 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1970
Listing office WESTLAKE ASSOCIATES, INC.
Listing date May 14, 2026
Source Corcoran
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of WESTLAKE ASSOCIATES, INC.
Investment Insights
Based on property information with market context.
Key Highlights
- Stabilized 18‑unit multifamily asset with strong in‑place income.
- Located in a well‑connected South Seattle neighborhood with convenient access to downtown Seattle, Sea‑Tac Airport, and I‑5.
- Benefits from Seattle's resilient rental market with sustained population growth and a diversified employment base.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $385.7k | $31.80 |
| − Vacancy | −$13.5k | −$1.11 |
| EGI | $372.2k | $30.69 |
| − OpEx | −$167.5k | −$13.81 |
| NOI | $204.7k | $16.88 |
