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Property profile & analytics
OFF-MARKET
Estimated value
$8,015,000
Apartment buildings
20311 71st NE Ave Arlington, WA 98223-7403
Entity Owned
5-yr Hold
Free & Clear
Property ID
US90-2309481
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
2021
Construction
WOOD
Total area
48,280 SF
Lot
2.09 ac (91,040 SF)
Zoning code
GC
APN
793300002801
UPID
US90-2309481
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$11.11M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.02M
Owner & transaction history
West Edge Development-two LLC · 5 yrs held
West Edge Development-two LLC
since 2020
Last sale
$2,200
5 recorded transactions
Zoning & alternative use
GC · Arlington, 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 Arlington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Arlington 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%
$12,035,000
6.5%
$11,110,000
7%
$10,315,000
Blend value · Realmo final
$8.02M
Range $7.21M – $8.82M · ±10% · vs last sale $2k (Jul 20 2020)
Last sale anchor
$2k
Jul 20 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
$166 / 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
$113,299
Tax year 2023
Assessed value
$14,685,400
Assessed 2023
Previous assessed
$3,329,500
+341.1% YoY
Effective rate
0.77%
On assessed value
Assessed land
$1,306,300
Assessed improvement
$13,379,100
Land market value
$1,306,300
Improvement market value
$13,379,100
Total market value
$14,685,400
Applied tax rate
110.0000
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
2021
Construction
WOOD
Heating
YES
Cooling
NONE
Buildings
3
Stories
4
Total area
48,280 SF
Lot
2.09 ac (91,040 SF)
Zoning code
GC
APN
793300002801
UPID
US90-2309481
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
GC · Arlington, WA
Zoning GC · permitted uses
GC · Arlington, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Arlington. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2021
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
4
Buildings
3
Lot
2.09 ac
Current owner
From public records · entity-resolved
West Edge Development-two LLC
Entity
Free & Clear · 5 yrs held
Mailing address
PO BOX 430, ARLINGTON, WA 98223-0430
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 1, 2024
—
West Development Two LLC
—
Deed
related
$32,179,000 · Pgim Real Estate Agency Financing LLC
Oct 19, 2022
—
West Edge Development Two LLC
—
Deed
related
$50,000 · Colliers Funding LLC
Jul 20, 2020
—
West Edge Development-two LLC
Triple Creek Investments LLC
Quit Claim Deed
related
—
Mar 29, 2002
—
Triple Creek Investments LLC
—
Deed Of Trust
related
$1,800,000 · Cascade Bank
Feb 5, 2001
—
Triple Creek Investments LLC
Arlington Business Parks LLC
Quit Claim Deed
related
—
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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