403 Thomas St, Seattle, WA 98102
Well-maintained 9-unit apartment building in desirable Seattle location.
- Added:
- Mar 4, 2026
- Days on Market:
- 116
- Last Refresh:
- Apr 5 at 9:01 pm
Property Features for 403 Thomas St
General Information
- Standard status
- Active
- Size
- 9,828 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1966
Listing office KIDDER MATHEWS (206) 296-9610
Listing date Mar 4, 2026
Source Corcoran
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All listing content including descriptions, pricing, images are the copyrighted material of KIDDER MATHEWS
HighLights
- Premier Capitol Hill location in a desirable Seattle rental market.
- Strong in‑place income with meaningful upside potential.
- Walker's Paradise: walk score of 95, offering easy access to amenities.
- Excellent public transportation options, including light rail and bus lines.
- Convenient transit to Downtown Seattle and South Lake Union.
- Well‑maintained 9‑unit multifamily property.
Overview
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 | $312.5k | $31.80 |
| − Vacancy | −$10.9k | −$1.11 |
| EGI | $301.6k | $30.69 |
| − OpEx | −$135.7k | −$13.81 |
| NOI | $165.9k | $16.88 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Seattle
- County
- King
- State
- Washington
- Longitude
- -122.326
- Latitude
- 47.6207
