Entity Owned 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
Current use
Occupant on record · Public records
-
Hardware & Home Improvement General Contractor
-
Apartment Complex Apartment Building
-
(Bike/Boat/Book/etc) Store Corporate Office
-
Business Service Center Corporate Office
Location
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
since 2021
Last sale
$55.0M
5 recorded transactions
Zoning & alternative use
HDR · Mill Creek, WA
Zoning description
17.14 HDR - High Density Residential 17.15 MU/HDR - Mixed-Use/High Density Residential 17.16 CB - Community Business 17.17 Repealed 17.18 NB - Neighborhood Business 17.19 EGUV - East Gateway Urban Village 17.20 BP - Busi…
General category
RESIDENTIAL
Top alternative use upside
Office building
$81.8M
+46.0%
Restaurant
$70.2M
+25.3%
Auto repair, garage
$58.8M
+4.9%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
5 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$51.27M
Value range
$46.14M – $56.39M
±10% around blend
Estimated value / SF
$378 / SF
Confidence
Property data
100
Market benchmarks
33
Comparable evidence
60
$46.14M
blend $51.27M
$56.39M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
135,501 SF
Lot area
5.95 ac
Year built
2003
Stories
1
APN
28053100204400
Zoning
HDR
Assessed value
$33,430,800
Annual tax
$289,264
3
Income approach: direct capitalization
Partial preview
Income approach indication
$31.18M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$33.78M
@ 6.5% CAP return
$31.18M
@ 7% CAP return
$28.96M
4
Sales comparison
Partial preview
Sales approach indication
$51.29M
Range $40.54M – $95.67M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$51.27M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 35 sales
$414
-9%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $378/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+46%
vs current-use indication
Restaurant
Auto Repair, Garage
Apartment House (5+ Units) · current use
Medical Building
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
Implied cap rate
3.20%
Implied, in-place cap rate for this apartment buildings
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 3.20%
9.0%
NOI (est.)
$3.85M *
Last sale · Oct 2021
$55.00M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$120.31M
Move the market yield to see immediate price impact.
Value / SF
$888
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
2.70%3.20%3.70%
$3.47M
$128.33M
$108.28M
$93.65M
$3.85M
$142.59M
$120.31M
$104.05M
$4.24M
$156.85M
$132.34M
$114.46M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
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
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
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, WAZoning HDR · permitted uses
HDR · Mill Creek, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
17.14 HDR - High Density Residential 17.15 MU/HDR - Mixed-Use/High Density Residential 17.16 CB - Community Business 17.17 Repealed 17.18 NB - Neighborhood Business 17.19 EGUV - East Gateway Urban Village 17.20 BP - Busi…
General category
RESIDENTIAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · 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
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
HDR
RESIDENTIAL
Jurisdiction
Mill Creek, WA
Recorded code
HDR
Official district
HDR
Official district profile
What the municipal code says about HDR
Zoning description
17.14 HDR - High Density Residential 17.15 MU/HDR - Mixed-Use/High Density Residential 17.16 CB - Community Business 17.17 Repealed 17.18 NB - Neighborhood Business 17.19 EGUV - East Gateway Urban Village 17.20 BP - Busi…
General category
RESIDENTIAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for HDR in Mill Creek, WA.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
Official documentVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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