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Property profile & analytics
OFF-MARKET
Estimated value
$57,675,000
Apartment buildings
11225 19th SE Ave Everett, WA 98208-5179
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-0755789
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1990
Construction
WOOD
Total area
175,460 SF
Lot
10.1 ac (439,956 SF)
Zoning code
R-3
APN
574700100402
UPID
US90-0755789
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
-
Artesia Apartments Real Estate Agency
-
Lets Cleann Hardware & Home Improvement
-
Meyleen Velasquez Foster Care Service Social Service Agency
-
A APPLIANCE REPAIR LLC Home Appliance Store
-
A&M Plumbing Heating & Electric LLC Plumbing Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$39.98M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$57.68M
Owner & transaction history
Mg Artesia Apartments LLC · 3 yrs held
Mg Artesia Apartments LLC
since 2023
Last sale
$61.5M
5 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
$66,960,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$43,310,000
6.5%
$39,980,000
7%
$37,125,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$88,460,000
Current use
RESTAURANT
$82,705,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$57.68M
Range $51.91M – $63.44M · ±10% · vs last sale $61.54M (May 30 2023)
Last sale anchor
$61.54M
May 30 2023
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
$329 / 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
$367,607
Tax year 2023
Assessed value
$45,798,000
Assessed 2023
Previous assessed
$42,055,700
+8.9% YoY
Effective rate
0.80%
On assessed value
Assessed land
$10,229,000
Assessed improvement
$35,569,000
Land market value
$10,229,000
Improvement market value
$35,569,000
Total market value
$45,798,000
Applied tax rate
56.0000
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
1990
Construction
WOOD
Heating
YES
Cooling
NONE
Buildings
2
Stories
2
Units
192
Rooms
192
Bathrooms
288
Total area
175,460 SF
Lot
10.1 ac (439,956 SF)
Zoning code
R-3
APN
574700100402
UPID
US90-0755789
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
$88.5M
RESTAURANT
Est. value
$82.7M
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
1990
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Buildings
2
Units
192
Rooms
192
Bathrooms
288
Lot
10.1 ac
Current owner
From public records · entity-resolved
Mg Artesia Apartments LLC
Entity
Mailing address
10505 SORRENTO VLY RD, SAN DIEGO, CA 92121-1618
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 30, 2023
$61,542,400
Mg Artesia Apartments LLC
Rise Properties Artesia LP
Special Warranty Deed
$39,999,000 · M&t Realty Capital Corporation
Dec 15, 2016
$40,384,628
Rise Properties Artesia LP
Fairfield Reflections LLC
Warranty Deed
$26,250,000 · Cbre Cap Markets
Feb 27, 2013
$20,900,000
Fairfield Reflections LLC
Reflectiions By The Lake LLC
Warranty Deed
$15,398,000 · Cbre Capital Markets INC
Sep 1, 1994
$8,700,000
—
—
Grant Deed
related
—
—
—
Reflections Of Lake LLC
—
Deed Of Trust
related
$8,750,000 · J P Morgan Chase Bank
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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