Turnkey 22-Unit Apartment
2152 185th St Shoreline, WA 98133
2152 185th St, Shoreline, WA, 98133
$9,000,000
For Sale
$9,000,000
Newly constructed 22-unit apartment building near upcoming Light Rail Station.
Property Size15,746 SF
Price / SF$571.57
Days on Market287
Property Features for 2152 185th St
General Information
- Standard status
- Active
- Size
- 15,746 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2024
Listing agency
CITY CLOSERS COMMERCIAL REAL ESTATE
(206) 554-1622
Listed by
KELSEY DILLER
Source
Corcoran
Added: Oct 8, 2025 Updated: Jul 6 at 9:56AM Checked: Jul 21 at 5:50AM
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 CITY CLOSERS COMMERCIAL REAL ESTATE
Investment Insights
Based on property information with market context.
This newly constructed, fully fenced 22-unit apartment building presents an exceptional investment opportunity in Shoreline. It is located a short 10-minute walk to the upcoming Light Rail Station. Each unit features an open floor plan with in-unit washer and dryer, contemporary finishes, and a sleek, modern aesthetic. Top-floor units benefit from 10-foot ceilings. Residents have access to amenities including an elevator, secure bike storage, fitness room, event space, and dual restrooms. The property also features live security camera feeds accessible to the owner and includes 19 secured parking spaces. The property size is 15746 square feet.
Key Highlights
- Newly constructed (2024) 22‑unit apartment building offering a turnkey investment opportunity.
- Prime location in Shoreline, a 10‑minute walk to the future Light Rail Station.
- Modern units featuring open floor plans, in‑unit washer and dryer, and contemporary finishes.
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 | $500.7k | $31.80 |
| − Vacancy | −$21.0k | −$1.34 |
| EGI | $479.7k | $30.46 |
| − OpEx | −$215.9k | −$13.71 |
| NOI | $263.8k | $16.76 |
15,746 SF · lease $31.80/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.77M
$3.30M – $4.40M
NOI $263,831 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.48M
$3.92M – $5.23M
NOI $313,818 @ 7.0% cap · market cap 3.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Newly constructed 22-unit apartment building near upcoming Light Rail Station.
Where is this apartment building located?
The property is located at 2152 185th St Shoreline, WA.
What is the asking price?
The asking price for this property is $9,000,000.
What are key features of this property?
This property features: Newly constructed (2024) 22‑unit apartment building offering a turnkey investment opportunity.; Prime location in Shoreline, a 10‑minute walk to the future Light Rail Station.; Modern units featuring open floor plans, in‑unit washer and dryer, and contemporary finishes.
