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Property profile & analytics
OFF-MARKET
Estimated value
$1,425,000
Assisted living facilities
1600 Olive St Seattle, WA 98122-2735
Individually Owned
23-yr Hold
~
Est. High Equity
Property ID
US90-1537819
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1975
Construction
FRAME
Total area
38,879 SF
Lot
1.01 ac (43,904 SF)
Zoning code
LR3 (M)
APN
723460-0405
UPID
US90-1537819
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
-
Mary Bartels Physician
-
David Rowlett Physician
-
Timothy Forslund Physician
-
Andrew Nazarian Counselor
-
Jennifer Kennelly Counselor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.43M
Owner & transaction history
Seattle Mental Health Institut · 23 yrs held
Seattle Mental Health Institut
since 2003
3 recorded transactions
Zoning & alternative use
LR3 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$37 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$7,385
Tax year 2024
Assessed value
$15,011,500
Assessed 2023
Previous assessed
$15,011,500
+0.0% YoY
Effective rate
0.05%
On assessed value
Assessed land
$12,512,600
Assessed improvement
$2,498,900
Land market value
$12,512,600
Improvement market value
$2,498,900
Total market value
$15,011,500
Applied tax rate
13.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1975
Construction
FRAME
Heating
FORCED AIR
Stories
2
Total area
38,879 SF
Lot
1.01 ac (43,904 SF)
Zoning code
LR3 (M)
APN
723460-0405
UPID
US90-1537819
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
LR3 (M) · Seattle, WA
Zoning LR3 (M) · permitted uses
LR3 (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.
Building & site characteristics
From public records
Year built
1975
Construction
FRAME
Heating
FORCED AIR
Stories
2
Lot
1.01 ac
Current owner
From public records · entity-resolved
Seattle Mental Health Institut
Individual
Mailing address
6400 SOUTHCENTER BLVD, TUKWILA, WA 98188-2547
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 22, 2003
—
Seattle Mental Health Institut
—
Deed Of Trust
related
$4,500,000 · Washington Mutual Fsb
—
—
Seattle Mental Health Ins INC
—
Deed Of Trust
related
$13,000,000 · Washington Health Care Facilit
—
—
Sound Mental Health
—
Deed Of Trust
related
$9,713,921 · Washington Health Care Facilit
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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