New search
Property profile & analytics
OFF-MARKET
Estimated value
$39,725,000
Apartment buildings
16720 6th W Ave, Lynnwood, WA 98037-8196
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0755424
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1989
Construction
WOOD
Total area
87,842 SF
Lot
5.78 ac (251,777 SF)
Zoning code
S2
APN
508900001500
UPID
US90-0755424
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
-
Station Nine Apartment Complex Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$38.29M
Blend (final)
Blend
$39.73M
Owner & transaction history
Tlus Rise Lynnwood Limited Partners · 4 yrs held
Tlus Rise Lynnwood Limited Partners
since 2022
Last sale
$40.3M
7 recorded transactions
Zoning & alternative use
S2 · Lynnwood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$45.5M
+25.3%
Auto repair, garage
$42.0M
+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
$39,990,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$36,330,000
Current use
RESTAURANT
$45,525,000
Change: +25% · Conversion: Difficult
AUTO REPAIR, GARAGE
$41,965,000
Change: +16% · Conversion: Difficult
MEDICAL BUILDING
$34,295,000
Change: -6% · Conversion: Moderate
OFFICE BUILDING
$30,050,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$39.73M
Range $35.75M – $43.70M · ±10% · vs last sale $40.31M (Apr 18 2022)
Last sale anchor
$40.31M
Apr 18 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
$452 / 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
$270,800
Tax year 2023
Assessed value
$33,419,600
Assessed 2023
Previous assessed
$24,713,000
+35.2% YoY
Effective rate
0.81%
On assessed value
Assessed land
$8,862,200
Assessed improvement
$24,557,400
Land market value
$8,862,200
Improvement market value
$24,557,400
Total market value
$33,419,600
Applied tax rate
2,446.0000
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
1989
Construction
WOOD
Heating
YES
Cooling
NONE
Stories
1
Total area
87,842 SF
Lot
5.78 ac (251,777 SF)
Zoning code
S2
APN
508900001500
UPID
US90-0755424
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
S2 · Lynnwood, WA
Zoning S2 · permitted uses
S2 · 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
$36.3M
RESTAURANT
Est. value
$45.5M
AUTO REPAIR, GARAGE
Est. value
$42.0M
MEDICAL BUILDING
Est. value
$34.3M
OFFICE BUILDING
Est. value
$30.1M
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
1989
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Lot
5.78 ac
Current owner
From public records · entity-resolved
Tlus Rise Lynnwood Limited Partners
Entity
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 18, 2022
$40,311,800
Tlus Rise Lynnwood Limited Partners
Rise Properties Station Nine LP
Bargain And Sale Deed
$25,991,000 · Key Bank NA
Nov 16, 2021
—
Rise Properties Station Nine LP
—
Deed
related
$38,600,000 · Key Bank NA
Dec 18, 2012
—
Rise Properties Station Nine Limite
H Duane Olson
Warranty Deed
$9,100,000 · Cbre Capital Markets INC
Feb 13, 2003
$158,000
Benjamin I Moore
Burke Villa LLC
Grant Deed
$161,160 · National City Mortgage Co
—
—
Rise Properties Station Nine L
—
Deed Of Trust
related
$12,200,000 · Cbre Cap Markets
—
—
Olson H D
—
Deed Of Trust
related
$5,841,000 · Homestreet Bank
—
—
Olson H D
—
Deed Of Trust
related
$4,675,000 · Continental INC
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 16720 6th W Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
