36-Unit Apartment
10790 16th Ave SW, Seattle, WA 98146
For Sale
$8,000,000
Three-building property with two-bedroom residences, in-unit laundry, and 61 parking stalls.
Property Size27,890 SF
Price / SF$286.84
Days on Market56
Property Features for 10790 16th Ave SW
General Information
Standard status
Size
Net Rentable
Total Parking Spaces
Property subtype
Financials
Asking Price
Cap Rate
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Sprinkler System
Amenities
in-unit washer and dryer
Building Details
Year Built
Buildings
Listed By:
Ron Rougeaux
(360) 338-8355
Source:
Pnwhomesgroup
Added: Sep 20
Changed: Nov 6
Last Checked: Nov 12 at 7:17AM
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 Ron Rougeaux
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Investment Insights
Based on property information with market context.
This 36-unit apartment property comprises three buildings totaling approximately 27,890 rentable square feet. Constructed in 2009, the community features an exclusively two-bedroom unit mix: 35 residences have two bedrooms and two bathrooms, while one has two bedrooms and one bathroom. Every unit includes a washer and dryer. Residents also have access to 61 parking stalls.
Building systems and improvements include fire sprinkler protection, copper supply lines, double-pane windows, and individual hot water tanks. The property is located at 10790 16th Ave SW in the White Center area of unincorporated King County, near downtown White Center, Westwood Village, public transportation, and major employment centers. The in-place cap rate is 5.83%.
Building systems and improvements include fire sprinkler protection, copper supply lines, double-pane windows, and individual hot water tanks. The property is located at 10790 16th Ave SW in the White Center area of unincorporated King County, near downtown White Center, Westwood Village, public transportation, and major employment centers. The in-place cap rate is 5.83%.
Key Highlights
- 36 units across three apartment buildings
- Approximately 27,890 rentable square feet; built in 2009
- Unit mix includes 35 two‑bedroom/two‑bathroom units and one two‑bedroom/one‑bathroom unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$470,723
Cap Rate
5.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,414,460
$9.4M
Cap Rate 7%
$6,724,614
$6.7M
Cap Rate 9%
$5,230,256
$5.2M
Market Conditions
NOI Build-Up for 27,890 SF
Gross rent
$886.9K $31.80/SF
− Vacancy
−$31.0K −$1.11/SF
EGI
$855.9K $30.69/SF
− OpEx
−$385.1K −$13.81/SF
NOI
$470.7K $16.88/SF
Area
Seattle, WA
Vacancy
3.50%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,414,460
Cap Rate 7%
$6,724,614
Cap Rate 9%
$5,230,256
Alternative Uses
Best Use
Apartment 5plus
$6.72M
$5.88M – $7.85M
NOI $470,723 @ 7.0% cap · market cap 5.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.39M
$7.34M – $9.79M
NOI $587,355 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
36
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
545
Businesses Nearby
Explore this area
Business Placement
Demographics for 98146, WA
28,845
Population
10,986
Households
2.6
Avg Household Size
39
Median Age
37%
College-Educated
86%
High-School Grad
4.6 sq mi
ZIP Area
6,271
Density / Sq Mi
$108,460
Median Household Income
$52,373
Median Earnings
$1,721
Median Rent
$642,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Seattle, WA
Properties on Market for Apartment buildings in Seattle
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Three-building property with two-bedroom residences, in-unit laundry, and 61 parking stalls.
Where is this apartment building located?
The property is located at 10790 16th Ave SW Seattle, WA.
What is the asking price?
The asking price for this property is $8,000,000.
What are key features of this property?
This property features: 36 units across three apartment buildings; Approximately 27,890 rentable square feet; built in 2009; Unit mix includes 35 two‑bedroom/two‑bathroom units and one two‑bedroom/one‑bathroom unit
