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Property profile & analytics
OFF-MARKET
Estimated value
$51,265,000
Apartment buildings
13401 Dumas Rd, Mill Creek, WA 98012-5502
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0698103
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
2003
Construction
WOOD
Total area
135,501 SF
Lot
5.95 ac (259,182 SF)
Zoning code
HDR
APN
28053100204400
UPID
US90-0698103
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
$31.18M
Comparable Approach
Comparable
$51.29M
Blend (final)
Blend
$51.27M
Owner & transaction history
Essex Monterra LLC · 4 yrs held
Essex Monterra LLC
since 2021
Last sale
$55.0M
5 recorded transactions
Zoning & alternative use
HDR · Mill Creek, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$81.8M
+46.0%
Restaurant
$70.2M
+25.3%
Auto repair, garage
$58.8M
+4.9%
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 Mill Creek submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mill Creek 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
$63,850,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$33,780,000
6.5%
$31,180,000
7%
$28,955,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$56,040,000
Current use
OFFICE BUILDING
$81,795,000
Change: +46% · Conversion: Moderate
RESTAURANT
$70,225,000
Change: +25% · Conversion: Difficult
AUTO REPAIR, GARAGE
$58,790,000
Change: +5% · Conversion: Difficult
MEDICAL BUILDING
$52,905,000
Change: -6% · Conversion: Moderate
Blend value · Realmo final
$51.27M
Range $46.14M – $56.39M · ±10% · vs last sale $55.00M (Oct 14 2021)
Last sale anchor
$55.00M
Oct 14 2021
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
$378 / 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
$289,264
Tax year 2023
Assessed value
$33,430,800
Assessed 2023
Previous assessed
$24,904,600
+34.2% YoY
Effective rate
0.87%
On assessed value
Assessed land
$6,531,800
Assessed improvement
$26,899,000
Land market value
$6,531,800
Improvement market value
$26,899,000
Total market value
$33,430,800
Applied tax rate
526.0000
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
2003
Construction
WOOD
Heating
YES
Cooling
NONE
Stories
1
Units
139
Rooms
139
Total area
135,501 SF
Lot
5.95 ac (259,182 SF)
Zoning code
HDR
APN
28053100204400
UPID
US90-0698103
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
HDR · Mill Creek, WA
Zoning HDR · permitted uses
HDR · Mill Creek, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mill Creek. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$56.0M
OFFICE BUILDING
Est. value
$81.8M
RESTAURANT
Est. value
$70.2M
AUTO REPAIR, GARAGE
Est. value
$58.8M
MEDICAL BUILDING
Est. value
$52.9M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL 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
2003
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Units
139
Rooms
139
Lot
5.95 ac
Current owner
From public records · entity-resolved
Essex Monterra LLC
Entity
Mailing address
1100 PARK PL STE #200, SAN MATEO, CA 94403-7107
Ownership since
2021
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
Feb 1, 2022
—
Essex Monterra LLC
—
Deed
related
$222,000,000 · Pnc Bank NA
Oct 14, 2021
$54,861,000
Essex Monterra LLC
Srgmf II Dumas Mill Creek LLC
Special Warranty Deed
—
Feb 5, 2018
—
Srgmf II Dumas Mill Creek LLC
—
Grant Deed
related
$28,400,000 · Walker & Dunlop
Jan 11, 2018
$39,000,000
Srgmf II Dumas Mill Creek LLC
Lakeview Community Rentals LP
Grant Deed
—
Jun 17, 2009
$55,898
Lakeview Community Rentals
Eqr-monterra LLC
Grant Deed
$7,286,000 · Federal National Mortgage Assn
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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