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Property profile & analytics
OFF-MARKET
Estimated value
$1,630,000
Apartment buildings
1400 Central Ave 1001 Wenatchee, WA 98801-7523
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US90-2685120
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1994
Total area
7,548 SF
Lot
3.73 ac (162,479 SF)
APN
232033340155
UPID
US90-2685120
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
-
National Land Realty - Washington Real Estate Agency
-
Cedarwood Apartments Loan Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.15M
Comparable Approach
Comparable
$1.66M
Blend (final)
Blend
$1.63M
Owner & transaction history
Cedarwood Wenatchee 120 LLC · 7 yrs held
Cedarwood Wenatchee 120 LLC
since 2019
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.4M
+25.8%
Auto repair, garage
$2.0M
+4.5%
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 Wenatchee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wenatchee 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%
$1,250,000
6.5%
$1,150,000
7%
$1,070,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,925,000
Current use
COMMERCIAL (GENERAL)
$2,425,000
Change: +26% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,015,000
Change: +5% · Conversion: Difficult
OFFICE BUILDING
$1,780,000
Change: -8% · Conversion: Moderate
Blend value · Realmo final
$1.63M
Range $1.47M – $1.79M · ±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
$216 / 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
$46,516
Tax year 2023
Assessed value
$5,214,483
Assessed 2022
Previous assessed
$4,913,370
+6.1% YoY
Effective rate
0.89%
On assessed value
Assessed land
$487,436
Assessed improvement
$4,727,047
Land market value
$487,436
Improvement market value
$4,727,047
Total market value
$5,214,483
Applied tax rate
802.0000
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 (5+ UNITS)
Status
Off-Market
Year built
1994
Heating
NONE
Buildings
2
Total area
7,548 SF
Lot
3.73 ac (162,479 SF)
APN
232033340155
UPID
US90-2685120
Jurisdiction
CHELAN
Zoning & alternative use
Zoning · permitted uses
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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.0M
OFFICE BUILDING
Est. value
$1.8M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1994
Heating
NONE
Buildings
2
Lot
3.73 ac
Current owner
From public records · entity-resolved
Cedarwood Wenatchee 120 LLC
Entity
Mailing address
223 10TH ST S, KIRKLAND, WA 98033-6729
Mailing matches property
Yes
Owner-occupied
Yes
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 21, 2019
—
Cedarwood Wenatchee 120 LLC
—
Grant Deed
related
$18,262,000 · Greystone Svcng Corp
Jan 9, 2019
$16,190,000
Cedarwood Wenatchee 120 LLC
Cedarwood Ventures LLC
Trustees Deed
$14,500,000 · Greystone Svcg
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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