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Property profile & analytics
OFF-MARKET
Estimated value
$39,950,000
Apartment buildings
14610 Admiralty Way, Lynnwood, WA 98087-4874
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-0081949
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
2000
Construction
WOOD
Total area
123,489 SF
Lot
2.62 ac (114,127 SF)
Zoning code
SI
APN
373300602001
UPID
US90-0081949
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
-
Pranathivs Family Recreation Center
-
Solutions Rus Advertising Agency Marketing & Advertising
-
Champion Roofs Roofing Company General Contractor
-
Easy Fix Computer & Electronic Repair Tech Support Center
-
mkrsourcing Business Service Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$28.42M
Comparable Approach
Comparable
$36.95M
Blend (final)
Blend
$39.95M
Owner & transaction history
Tlus Rise Picnic Point Limited Part · 3 yrs held
Tlus Rise Picnic Point Limited Part
since 2022
Last sale
$54.9M
7 recorded transactions
Zoning & alternative use
SI · Lynnwood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$64.0M
+25.3%
Auto repair, garage
$59.0M
+15.5%
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 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
$54,445,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$30,785,000
6.5%
$28,415,000
7%
$26,385,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$51,070,000
Current use
RESTAURANT
$64,000,000
Change: +25% · Conversion: Difficult
AUTO REPAIR, GARAGE
$59,000,000
Change: +16% · Conversion: Difficult
MEDICAL BUILDING
$48,215,000
Change: -6% · Conversion: Moderate
OFFICE BUILDING
$42,245,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$39.95M
Range $35.96M – $43.95M · ±10% · vs last sale $54.89M (Dec 2 2022)
Last sale anchor
$54.89M
Dec 2 2022
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
$324 / 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
$237,077
Tax year 2023
Assessed value
$28,828,700
Assessed 2023
Previous assessed
$27,034,000
+6.6% YoY
Effective rate
0.82%
On assessed value
Assessed land
$1,830,100
Assessed improvement
$26,998,600
Land market value
$1,830,100
Improvement market value
$26,998,600
Total market value
$28,828,700
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
2000
Construction
WOOD
Heating
YES
Cooling
NONE
Stories
1
Units
164
Rooms
164
Total area
123,489 SF
Lot
2.62 ac (114,127 SF)
Zoning code
SI
APN
373300602001
UPID
US90-0081949
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
SI · Lynnwood, WA
Zoning SI · permitted uses
SI · Lynnwood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lynnwood. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$51.1M
RESTAURANT
Est. value
$64.0M
AUTO REPAIR, GARAGE
Est. value
$59.0M
MEDICAL BUILDING
Est. value
$48.2M
OFFICE BUILDING
Est. value
$42.2M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2000
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Units
164
Rooms
164
Lot
2.62 ac
Current owner
From public records · entity-resolved
Tlus Rise Picnic Point Limited Part
Individual
Mailing address
1518 1ST AVE S STE #500, SEATTLE, WA 98134-1456
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 2, 2022
$54,885,000
Tlus Rise Picnic Point Limited Part
Rise Properties Woodcreek Limited P
Special Warranty Deed
$32,162,000 · Key Bank NA
Nov 16, 2015
$32,966,990
Rise Properties Woodcreek LP
Admiralty Way Apartments LLC
Grant Deed
$22,885,000 · Cbre Cap Markets
Nov 30, 2010
$20,868,000
Admiralty Way Apartments LLC
Ppc Woodcreek Avf III LLC
Grant Deed
—
May 17, 2006
$16,113,742
Ppc Woodcreek Avf III LLC
Woodcreek Holdings LLC
Warranty Deed
—
Nov 15, 2002
—
Woodcreek Holdings LLC
Rudeen,kevin K
Quit Claim Deed
related
—
May 23, 2001
—
Kevin K Rudeen
—
Deed Of Trust
related
$12,400,000 · Transamerica Life Insurance Co
Mar 30, 2000
—
Base Capital LLC
—
Deed Of Trust
related
$2,100,000 · Base Capital LLC
Dec 8, 1998
—
Olsen Family Investments LLC
Olsen,torstein A
Quit Claim Deed
related
—
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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