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Property profile & analytics
OFF-MARKET
Estimated value
$120,270,000
Apartment buildings
10115 Holly Dr Everett, WA 98204-8717
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-3101767
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1989
Construction
WOOD
Total area
326,128 SF
Lot
12.96 ac (564,538 SF)
Zoning code
R-3
APN
28042400201100
UPID
US90-3101767
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
MTB Clothing Store
-
Meticulous Maids Hardware & Home Improvement
-
Olin Fields Apartments Apartment Complex Apartment Rental Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$74.31M
Comparable Approach
Comparable
$163.61M
Blend (final)
Blend
$120.27M
Owner & transaction history
Olin Fields Owner LLC · 4 yrs held
Olin Fields Owner LLC
since 2022
Last sale
$120.0M
7 recorded transactions
Zoning & alternative use
R-3 · Everett, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Everett submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Everett submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$123,420,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$80,500,000
6.5%
$74,310,000
7%
$69,000,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$164,415,000
Current use
RESTAURANT
$153,720,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$120.27M
Range $108.24M – $132.30M · ±10% · vs last sale $120.00M (May 6 2022)
Last sale anchor
$120.00M
May 6 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$369 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$677,490
Tax year 2023
Assessed value
$89,858,000
Assessed 2023
Previous assessed
$82,700,000
+8.7% YoY
Effective rate
0.75%
On assessed value
Assessed land
$9,202,600
Assessed improvement
$80,655,400
Land market value
$9,202,600
Improvement market value
$80,655,400
Total market value
$89,858,000
Applied tax rate
64.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Status
Off-Market
Year built
1989
Construction
WOOD
Heating
YES
Cooling
NONE
Stories
2
Units
352
Rooms
352
Bathrooms
6
Total area
326,128 SF
Lot
12.96 ac (564,538 SF)
Zoning code
R-3
APN
28042400201100
UPID
US90-3101767
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
R-3 · Everett, WA
Zoning R-3 · permitted uses
R-3 · Everett, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Everett. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$164.4M
RESTAURANT
Est. value
$153.7M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1989
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Units
352
Rooms
352
Bathrooms
6
Lot
12.96 ac
Current owner
From public records · entity-resolved
Olin Fields Owner LLC
Entity
Mailing address
701 5TH AVE STE #5700, SEATTLE, WA 98104-7014
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 6, 2022
$120,000,000
Olin Fields Owner LLC
Standard Jsp Olin LLC
Special Warranty Deed
$87,600,000 · Metlife Commercial Mortgage Origina
Feb 28, 2017
—
Standard Jsp Olin LLC
Standard De La Rosa Venture LP
Quit Claim Deed
$50,000,000 · Keybank USA
Nov 2, 2016
$64,700
Standard De La Rosa Venture LP
10115 Holly Drive Assocs LLC
Grant Deed
$34,000,000 · Keybank USA
Mar 4, 2014
—
10115 Holly Drive Associates LLC
Hart Covington LLC
Bargain And Sale Deed
$29,960,000 · Centerline Mortgage Partners INC
Aug 27, 2008
$42,604,000
Hart Covington LLC
Jer Of Fsc Covington LLC
Grant Deed
—
Jul 26, 2005
—
Jer Of Fsc Covington LLC
Cv Associates LLC
Grant Deed
related
—
Aug 1, 1988
$1,235,000
Property Management INC
Unknown
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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