2222 Gilman Drive W, Seattle, WA 98119
- $2,750,000
- 11,014
- SqFt
Listing courtesy of Lee & Associates Commercial RE. Selling Office: Skyline Properties, Inc..
- Sold Price
- $2,750,000
- List Price
- $2,900,000
- Status
- SOLD
- MLS#
- 2395652
- Closing Date
- Jan 28, 2026
- Days on Market
- 98
- Style
- 56 - 10+ Units
- Building Condition
- Average
- Finished SqFt
- 11,014
- Area Total SqFt
- 11014
- Annual Tax Ammount
- 31823
- Lot Size (sq ft)
- 14,120
- Sewer
- Sewer Connected
- Offer Review Date
- 2025-11-20
Property Description
Back on Market - Significant Price Reduction of $500K for buyers to get a head start on the capital project needed. Gilman West, a 14-unit apartment in Seattle’s highly desirable West Queen Anne. Ideally located near Interbay retail (Whole Foods, Petco, QFC) and Queen Anne’s McGraw St amenities, the 1960-built asset includes six 1-bed and eight 2-bed units averaging 787 SF. With spacious layouts and strong natural light, Gilman West is well-positioned for a renovation strategy to boost rents. Significant upside exists through capital improvements like plumbing and drainage work which support deeper unit renovations and enhance both tenant experience and long-term returns.
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Additional Information
- List Date
- 2025-10-22 00:00:00
- Community
- Queen Anne
- Net Operating Income
- $139,500
- Gross Adjusted Income
- $221,331
- Gross Scheduled Income
- $232,980
- Total Monthly Income
- $20,990
- Insurance Expenses
- $7,958
- Water/Sewer/Garbage Expenses
- $19,447
- Gross Rent Multiplier
- 12.44
- Total Expenses
- $102,129
- Cap Rate
- 4.95
- Vacancy Rate
- 5
- Total Number of Units
- 14
- Unit Name
- 2222
- Potential Terms
- Cash, Conventional, Rehab Loan
- Year Built
- 1960
- Roof
- Flat
- Other Expenses
- 42901
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $20,990
- Gross Scheduled Income
- $232,980
- Vacancy Rate
- 5
- Gross Adjusted Income
- $221,331
- Tax Year
- 2025
- Insurance Expense
- $7,958
- W/S/G Expenses
- $19,447
- Total Expenses
- $102,129
- Net Operating Income
- $139,500
- Gross Rent Multiplier
- 12.44
- Cap Rate
- 4.95
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.