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Property profile & analytics
OFF-MARKET
Assisted living facilities
11501 15th NE Ave Seattle, WA 98125-6320
Entity Owned
2-yr Hold
Property ID
US90-1323877
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
61,468 SF
Lot
1.69 ac (73,731 SF)
Zoning code
LR3 (M)
APN
204450-0360
UPID
US90-1323877
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
-
Highlander Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Northgate Apartment Investors LLC · 2 yrs held
Northgate Apartment Investors LLC
since 2023
Last sale
$18.9M
7 recorded transactions
Zoning & alternative use
LR3 (M) · Seattle, 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 Seattle submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Seattle 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2022Property tax & assessments
Tax year 2022
Tax billed
$81,513
Tax year 2022
Assessed value
$8,604,000
Assessed 2022
Previous assessed
$8,604,000
+0.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$5,161,100
Assessed improvement
$3,442,900
Land market value
$5,161,100
Improvement market value
$3,442,900
Total market value
$8,604,000
Applied tax rate
25.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Buildings
2
Stories
4
Units
121
Total area
61,468 SF
Lot
1.69 ac (73,731 SF)
Zoning code
LR3 (M)
APN
204450-0360
UPID
US90-1323877
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
LR3 (M) · Seattle, WA
Zoning LR3 (M) · permitted uses
LR3 (M) · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Seattle. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Stories
4
Buildings
2
Units
121
Lot
1.69 ac
Current owner
From public records · entity-resolved
Northgate Apartment Investors LLC
Entity
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 27, 2023
$18,943,869
Northgate Apartment Investors LLC
Welltower Cogir Landlord LP
Warranty Deed
$15,200,000 · Welltower Lending Group LLC
May 9, 2001
—
Mgp Xiv LLC
Merrill Gardens Lc
Quit Claim Deed
related
$7,000,000 · Arcs Commercial Mortgage Co LP
Jun 8, 1994
—
Merrill Associates LP
Merrill Gencor A
Quit Claim Deed
related
—
—
—
Mgp Xiv LLC
—
Deed Of Trust
related
$1,932,000 · Arcs Commercial Mortgage Co LP
—
—
Max H Shadinger
—
Deed Of Trust
related
$16,000 · Washington Mutual Fsb
—
—
Max H Shadinger
—
Deed Of Trust
related
$16,993 · Washington Mutual Fsb
—
—
Merrill Associates LP
—
Deed Of Trust
related
$5,275,000 · Seafirst 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.
Try Rey
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