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Property profile & analytics
OFF-MARKET
Estimated value
$975,000
Apartment buildings
12731 Mukilteo Speedway Lynnwood, WA 98087-1551
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-1367031
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
2021
Construction
WOOD
Total area
69,526 SF
Lot
4.91 ac (213,880 SF)
Zoning code
S1
APN
537800000600
UPID
US90-1367031
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$16.00M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$975k
Owner & transaction history
Speedway II LLC · 6 yrs held
Speedway II LLC
since 2019
7 recorded transactions
Zoning & alternative use
S1 · Lynnwood, 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 Lynnwood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lynnwood 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$17,330,000
6.5%
$16,000,000
7%
$14,855,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$23,785,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$975k
Range $878k – $1.07M · ±10%
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
$14 / 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
$7,917
Tax year 2023
Assessed value
$41,590,400
Assessed 2023
Previous assessed
$1,041,000
+3,895.2% YoY
Effective rate
0.02%
On assessed value
Assessed land
$3,886,900
Assessed improvement
$37,703,500
Land market value
$3,886,900
Improvement market value
$37,703,500
Total market value
$41,590,400
Applied tax rate
2,310.0000
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
2021
Construction
WOOD
Heating
SPACE
Cooling
NONE
Buildings
5
Stories
4
Rooms
8
Bathrooms
2
Total area
69,526 SF
Lot
4.91 ac (213,880 SF)
Zoning code
S1
APN
537800000600
UPID
US90-1367031
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
S1 · Lynnwood, WAZoning S1 · permitted uses
S1 · Lynnwood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$23.8M
OFFICE BUILDING
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
2021
Construction
WOOD
Heating
SPACE
Cooling
Yes
Stories
4
Buildings
5
Rooms
8
Bathrooms
2
Lot
4.91 ac
Current owner
From public records · entity-resolved
Speedway II LLC
Entity
Mailing address
10900 NE 8TH ST STE #1200, BELLEVUE, WA 98004-4460
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
17 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 12, 2024
—
Speedway II LLC
—
Deed
related
—
Jul 25, 2023
—
Speedway II LLC
—
Deed
related
$38,000,000 · Citibank NA
Apr 21, 2022
—
Speedway II LLC
—
Deed
related
$38,000,000 · Us Bank NA
Dec 24, 2019
—
Speedway II LLC
Speedway II Management LLC
Intrafamily Transfer
related
$8,100,000 · Us Bank NA
Apr 12, 2019
—
Speedway II Management LLC
—
Deed
related
$3,380,000 · M & T Bank
Jan 8, 2018
$1,100,000
Speedway II LLC
Connolly Holdings LLC
Warranty Deed
—
Aug 15, 2016
$320,000
Justin P Doyle
Pippin,wayne T & Rhonda M
Warranty Deed
$314,204 · Academy Mtg
Apr 4, 2011
$425,000
Christopher C Connolly
Snow,sylvia C
Warranty Deed
$250,000 · Smelser Living Trust (lt)
Dec 17, 2010
$27,808
166 Lake Investors LLC
Vange Howard W & B B
Quit Claim Deed
related
—
Nov 17, 2010
$27,808
Judy Scott
Scott,donald K
Quit Claim Deed
related
—
Sep 16, 2010
$1,063,314
Olympic Coast Inv INC
Ordal Trustee Svcs INC
Trustees Deed
related
—
Oct 28, 2008
—
Erma L Beebe
Beebe,erma L
Quit Claim Deed
related
—
Sep 25, 2006
$2,650,000
Master Values
Gooch Living Trust
Grant Deed
$1,650,000 · Olympic Coast Investment INC
Dec 17, 1998
$320,000
Robert L Gooch
Lynnwood Mortgage Corp
Grant Deed
—
Jun 2, 1998
—
Lynnwood Mortgage Corp
Goettel,otto E & Joni M
Grant Deed
related
—
Mar 22, 1996
—
Otto E Goettel
—
Grant Deed
related
$240,000 · Lynnwood Mortgage Corp
Mar 31, 1995
$285,000
Otto E Goettel
Crymes,gary K & Kay L
Grant Deed
$250,000 · Seller
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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