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Property profile & analytics
OFF-MARKET
Estimated value
$725,000
Residential income homes
1518 23rd Ave Seattle, WA 98122-2919
Entity Owned
4-yr Hold
Property ID
US90-2671380
Property profile
Verified
Property type
Residential income homes
Use group
BOARDING/ROOMING HOUSE
Year built
1943
Construction
WOOD
Total area
1,780 SF
Lot
0.14 ac (6,106 SF)
Zoning code
RSL (M)
APN
722850-0085
UPID
US90-2671380
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
$800k
CAP Approach
CAP
$460k
Comparable Approach
Comparable
$565k
Blend (final)
Blend
$725k
Owner & transaction history
Infinity Land Management LLC · 4 yrs held
Infinity Land Management LLC
since 2022
Last sale
$900,000
7 recorded transactions
Zoning & alternative use
RSL (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$990,000
+56.8%
Auto repair, garage
$730,000
+16.0%
Retail stores
$715,000
+13.1%
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 Seattle submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Seattle 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
$730,000
ML approach
$800,000
CAP Approach
CAP Return
Estimation
6%
$500,000
6.5%
$460,000
7%
$430,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$630,000
Current use
COMMERCIAL (GENERAL)
$990,000
Change: +57% · Conversion: Moderate
AUTO REPAIR, GARAGE
$730,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$715,000
Change: +13% · Conversion: Difficult
OFFICE BUILDING
$630,000
Change: 0% · Conversion: Moderate
MEDICAL BUILDING
$610,000
Change: -3% · Conversion: Moderate
WAREHOUSE, STORAGE
$525,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$725k
Range $653k – $798k · ±10% · vs last sale $900k (Mar 1 2022)
Last sale anchor
$900k
Mar 1 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
$407 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$5,714
Tax year 2022
Assessed value
$611,600
Assessed 2022
Previous assessed
$611,600
+0.0% YoY
Effective rate
0.93%
On assessed value
Assessed land
$610,600
Assessed improvement
$1,000
Land market value
$610,600
Improvement market value
$1,000
Total market value
$611,600
Applied tax rate
10.0000
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
Residential income homes
Use group
BOARDING/ROOMING HOUSE
Status
Off-Market
Year built
1943
Construction
WOOD
Heating
FORCED AIR
Stories
1
Bathrooms
2
Total area
1,780 SF
Lot
0.14 ac (6,106 SF)
Zoning code
RSL (M)
APN
722850-0085
UPID
US90-2671380
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
RSL (M) · Seattle, WA
Zoning RSL (M) · permitted uses
RSL (M) · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Seattle. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$630,000
COMMERCIAL (GENERAL)
Est. value
$990,000
AUTO REPAIR, GARAGE
Est. value
$730,000
RETAIL STORES
Est. value
$715,000
OFFICE BUILDING
Est. value
$630,000
MEDICAL BUILDING
Est. value
$610,000
WAREHOUSE, STORAGE
Est. value
$525,000
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1943
Construction
WOOD
Heating
FORCED AIR
Stories
1
Bathrooms
2
Lot
0.14 ac
Current owner
From public records · entity-resolved
Infinity Land Management LLC
Entity
Mailing address
14508 NE 20TH ST STE #200, BELLEVUE, WA 98007-3769
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
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 1, 2022
$900,000
Infinity Land Management LLC
1518 LLC
Warranty Deed
$1,350,000 · Alaska USA FCU
Sep 11, 2017
—
1518 LLC
Gary G Mulhair
Quit Claim Deed
related
$574,000 · First Republic Bank
Nov 14, 2006
—
Portage Bay Property Svcs LLC
James,rory C & Amy L
Quit Claim Deed
related
—
Nov 14, 2006
$316,000
Gary G Mulhair
Portage Bay Property Services LLC
Warranty Deed
$316,000 · Lehman Brothers Bank Fsb
Aug 29, 2003
$84,720
Rory C James
James,rory C & Amy L
Quit Claim Deed
related
$177,000 · Wells Fargo Home Mortgage INC
Dec 31, 2001
$215,000
Rory C James
Sanchez,maria L
Grant Deed
$172,000 · Shelter Mortgage Corp
Feb 27, 2001
—
Maria L Sanchez
Sanchez,maria L & Gabriel V
Quit Claim Deed
related
$176,000 · Accredited Home Lenders
Jun 18, 1997
—
Maria L Sanchez
Sanchez,efren A
Quit Claim Deed
related
$112,500 · Washington Mutual Fsb
Aug 31, 1995
$119,000
Maria L Sanchez
Locus 3
Grant Deed
$113,050 · Standard Federal Bank
Sep 16, 1988
$65,000
Koehler,& Santerre
Hud,
Grant Deed
$64,096 · Arcs Mortgage INC
—
—
Maria L Sanchez
—
Deed Of Trust
related
$75,000 · Washington Loan Co INC
—
—
Gary G Mulhair
—
Deed Of Trust
related
$462,000 · Countrywide Bank
—
—
Gary G Mulhair
—
Deed Of Trust
related
$128,700 · Countrywide Bank
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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