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Property profile & analytics
OFF-MARKET
Estimated value
$670,000
Assisted living facilities
1640 148th SE Ave, Bellevue, WA 98007-6825
Entity Owned
30-yr Hold
~
Est. High Equity
Property ID
US90-1045167
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
23,732 SF
Lot
1.82 ac (79,200 SF)
Zoning code
R-20
APN
022405-9038
UPID
US90-1045167
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
-
Patriots Glen Nursing Home Retirement Community
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$720k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$621k
Blend (final)
Blend
$670k
Owner & transaction history
Mld Careage Investment Ptshp · 30 yrs held
Mld Careage Investment Ptshp
since 1996
4 recorded transactions
Zoning & alternative use
R-20 · Bellevue, 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 Bellevue submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bellevue 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
$720,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$670k
Range $603k – $737k · ±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
$28 / 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
$51,943
Tax year 2022
Assessed value
$7,344,200
Assessed 2022
Previous assessed
$7,344,200
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$2,138,400
Assessed improvement
$5,205,800
Land market value
$2,138,400
Improvement market value
$5,205,800
Total market value
$7,344,200
Applied tax rate
330.0000
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
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Stories
2
Units
68
Total area
23,732 SF
Lot
1.82 ac (79,200 SF)
Zoning code
R-20
APN
022405-9038
UPID
US90-1045167
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
R-20 · Bellevue, WA
Zoning R-20 · permitted uses
R-20 · Bellevue, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bellevue. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Stories
2
Units
68
Lot
1.82 ac
Current owner
From public records · entity-resolved
Mld Careage Investment Ptshp
Entity
Mailing address
PO BOX 1969, GIG HARBOR, WA 98335-3969
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
1996
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 25, 2021
—
Med Bellevue Investment Partnership
—
Deed
related
$5,501,000 · Berkadia Commercial Mortgage LLC
Mar 22, 1996
$750,000
Mld Careage Investment Ptshp
Asiamerica Equities Ltd
Grant Deed
$5,250,000 · Nationwide Health Properties
Feb 3, 1988
$2,000,000
Asiamerica Equities Ltd
Pacific West Inv
Grant Deed
related
—
—
—
Mld Bellevue Investment Ptshp
—
Deed Of Trust
related
$5,290,000 · Columbia State 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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