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Property profile & analytics
OFF-MARKET
Estimated value
$23,680,000
Apartment buildings
18420 36th W Ave Lynnwood, WA 98037-7638
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-0912962
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
2003
Construction
WOOD
Total area
101,489 SF
Lot
4.85 ac (211,266 SF)
Zoning code
LG
APN
27041500201100
UPID
US90-0912962
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
-
Alderwood Court Senior Affordable Apartments Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$23.36M
Comparable Approach
Comparable
$30.37M
Blend (final)
Blend
$23.68M
Owner & transaction history
Fairfield Alderwood Court LP · 6 yrs held
Fairfield Alderwood Court LP
since 2020
Last sale
$23.5M
6 recorded transactions
Zoning & alternative use
LG · Lynnwood, 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 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
$30,370,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$25,300,000
6.5%
$23,355,000
7%
$21,685,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$34,720,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$23.68M
Range $21.31M – $26.05M · ±10% · vs last sale $23.53M (Jan 6 2020)
Last sale anchor
$23.53M
Jan 6 2020
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
$233 / 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
$7,520
Tax year 2023
Assessed value
$19,926,600
Assessed 2023
Previous assessed
$19,856,400
+0.4% YoY
Effective rate
0.04%
On assessed value
Assessed land
$6,369,200
Assessed improvement
$13,557,400
Land market value
$6,369,200
Improvement market value
$13,557,400
Total market value
$19,926,600
Applied tax rate
452.0000
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
2003
Construction
WOOD
Heating
YES
Cooling
NONE
Stories
3
Total area
101,489 SF
Lot
4.85 ac (211,266 SF)
Zoning code
LG
APN
27041500201100
UPID
US90-0912962
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
LG · Lynnwood, WAZoning LG · permitted uses
LG · Lynnwood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$34.7M
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
2003
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
3
Lot
4.85 ac
Current owner
From public records · entity-resolved
Fairfield Alderwood Court LP
Entity
Mailing address
5355 MIRA SORRENTO PL STE #100, SAN DIEGO, CA 92121-3812
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 6, 2020
$23,525,000
Fairfield Alderwood Court LP
Alderwood Court Associates Limited
Warranty Deed
$18,820,000 · Deutsche Bank National Trust Co
Nov 14, 2000
$3,698,033
Lynnwood Rm Investors LLC
Virginia Mason Medical Center
Grant Deed
$2,550,000 · Key Bank NA
—
—
Lynnwood Rm Investors LLC
—
Deed Of Trust
related
$800,000 · Individual
—
—
Alderwood Court Associates LP
—
Deed Of Trust
related
$2,295,000 · Arcs Commercial Mortgage Co LP
—
—
Alderwood Court Associates LP
—
Deed Of Trust
related
$5,350,000 · Arcs Commercial Mortgage Co LP
—
—
Alderwood Court Associates LP
—
Deed Of Trust
related
$7,764,795 · Key Bank NA
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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