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Property profile & analytics
OFF-MARKET
Estimated value
$4,885,000
Apartment buildings
18463 Blueberry Ln, Monroe, WA 98272-1318
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US90-0047881
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1991
Construction
WOOD
Total area
52,000 SF
Lot
10.41 ac (453,460 SF)
Zoning code
O6
APN
27060100205700
UPID
US90-0047881
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
-
Zuniga Landscaping Landscaping General Contractor
-
Terra @ Monroe Apartments Apartment Complex
-
Hernandez's Landscaping Landscaping General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.89M
Owner & transaction history
Cep III Morning Run 13 LLC · 13 yrs held
Cep III Morning Run 13 LLC
since 2013
7 recorded transactions
Zoning & alternative use
O6 · Monroe, 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 Monroe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Monroe 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
$94 / 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
$349,960
Tax year 2023
Assessed value
$46,996,000
Assessed 2023
Previous assessed
$40,866,000
+15.0% YoY
Effective rate
0.74%
On assessed value
Assessed land
$4,986,300
Assessed improvement
$42,009,700
Land market value
$4,986,300
Improvement market value
$42,009,700
Total market value
$46,996,000
Applied tax rate
530.0000
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
1991
Construction
WOOD
Heating
YES
Cooling
NONE
Buildings
16
Stories
2
Total area
52,000 SF
Lot
10.41 ac (453,460 SF)
Zoning code
O6
APN
27060100205700
UPID
US90-0047881
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
O6 · Monroe, WA
Zoning O6 · permitted uses
O6 · Monroe, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Monroe. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1991
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Buildings
16
Lot
10.41 ac
Current owner
From public records · entity-resolved
Cep III Morning Run 13 LLC
Entity
Mailing address
2829 RUCKER AVE STE #100, EVERETT, WA 98201-3456
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 1, 2023
—
Cep III Morning Run 13 LLC
—
Deed
related
$41,708,000 · Berkadia Commercial Mortgage LLC
May 24, 2018
—
Cep III Morning Run 13 LLC
—
Deed
related
$4,330,000 · Hunt Mortgage Partners LLC
May 29, 2013
—
Cep III Morning Run 13 LLC
Essex Morning Run Apartments LP
Special Warranty Deed
$19,800,000 · Centerline Mortgage Partners INC
Sep 30, 2005
$19,600,000
Morning Run Apartments L Essex
Crown Capital Properties
Warranty Deed
$14,137,000 · Arcs Commercial Mortgage Co LP
Aug 18, 2005
—
Michael E Andrews
Crown Partners
Quit Claim Deed
related
—
Oct 4, 1993
$8,130,519
Olympic Fund
Morning Run Asso
Grant Deed
related
—
May 1, 1990
$1,254,000
Morning Run Associates
Unknown
Grant Deed
—
—
—
Capital E H LP Crown
—
Deed Of Trust
related
$1,150,000 · American Property Financing
—
—
Morning Run Associates
—
Deed Of Trust
related
$10,000,000 · American Property Financing
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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