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Property profile & analytics
OFF-MARKET
Estimated value
$40,890,000
Apartment buildings
1630 228th SE St Bothell, WA 98021-7428
Entity Owned
12-yr Hold
Free & Clear
Property ID
US90-1595036
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1990
Construction
WOOD
Total area
211,660 SF
Lot
17.03 ac (741,827 SF)
Zoning code
BC
APN
27053100100200
UPID
US90-1595036
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
-
Northwest Elegance Tile & Stn General Contractor Renovation Specialist
-
Henna tattoos(mehandi) Training Center
-
Siri Seattle Henna artist Artist Mehndi Designer
-
Eagle Cleaners LLC Hardware & Home Improvement
-
Building O Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$48.71M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$40.89M
Owner & transaction history
Essex Portfolio LP · 12 yrs held
Essex Portfolio LP
since 2014
7 recorded transactions
Zoning & alternative use
BC · Bothell, WA
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 Bothell submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bothell 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%
$52,765,000
6.5%
$48,705,000
7%
$45,225,000
Blend value · Realmo final
$40.89M
Range $36.80M – $44.98M · ±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
$193 / 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
$529,619
Tax year 2023
Assessed value
$68,820,000
Assessed 2023
Previous assessed
$64,387,500
+6.9% YoY
Effective rate
0.77%
On assessed value
Assessed land
$14,833,600
Assessed improvement
$53,986,400
Land market value
$14,833,600
Improvement market value
$53,986,400
Total market value
$68,820,000
Applied tax rate
902.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
1990
Construction
WOOD
Heating
YES
Cooling
NONE
Buildings
2
Stories
1
Units
250
Rooms
250
Bathrooms
354
Total area
211,660 SF
Lot
17.03 ac (741,827 SF)
Zoning code
BC
APN
27053100100200
UPID
US90-1595036
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
BC · Bothell, WAZoning BC · permitted uses
BC · Bothell, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Permit Center | Bothell WA
Building & site characteristics
From public records
Year built
1990
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Units
250
Rooms
250
Bathrooms
354
Lot
17.03 ac
Current owner
From public records · entity-resolved
Essex Portfolio LP
Entity
Free & Clear · 12 yrs held
Mailing address
PO BOX 59365, SCHAUMBURG, IL 60159-0365
Ownership since
2014
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
Jul 10, 2014
—
Essex Portfolio LP
Essex Canyon Pointe LP
Quit Claim Deed
—
Apr 15, 2005
—
Canyon Pointe Essex
Essex Portfolio
Quit Claim Deed
$16,299,000 · Arcs Commercial Mortgage Co LP
Oct 9, 2003
$2,278,483
Essex Portfolio LP
Api Multifamily Properties I
Grant Deed
—
May 24, 2002
—
Api Multifamily Properties LLC
Ameriton Properties INC
Grant Deed
$100,000,000 · L J Melody & Co
Dec 29, 1997
$20,425,000
Ptr Development Services
Canyon Pointe Corp
Grant Deed
—
Sep 1, 1989
$960,000
Canyon Pointe Lincoln
Unknown
Grant Deed
—
—
—
Ptr Development Svcs Incorpora
—
Deed Of Trust
related
$21,642,500 · Security Capital Pacific Trust
—
—
Ameriton Properties INC
—
Deed Of Trust
related
$14,800,000 · Monumental Life Ins Co Trustee
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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