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Property profile & analytics
OFF-MARKET
Estimated value
$46,440,000
Hotels
206 Western W Ave Seattle, WA 98119-4217
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1200559
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1998
Construction
CONCRETE
Total area
155,602 SF
Lot
0.54 ac (23,459 SF)
Zoning code
SM-UP 85 (M)
APN
199220-0235
UPID
US90-1200559
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
-
Homewood Suites by Hilton Seattle Downtown Hotel & Motel Vacation Rental
-
Homewood Suites Hotel Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$40.12M
Blend (final)
Blend
$46.44M
Owner & transaction history
Hit Portfolio II Owner LLC · 3 yrs held
Hit Portfolio II Owner LLC
since 2022
Last sale
$51.8M
7 recorded transactions
Zoning & alternative use
SM-UP 85 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$64.0M
+24.2%
Retail stores
$62.4M
+21.0%
Apartment house (5+ units)
$55.2M
+7.0%
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 Seattle submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Seattle 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
$42,065,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$51,560,000
Current use
AUTO REPAIR, GARAGE
$64,015,000
Change: +24% · Conversion: Difficult
RETAIL STORES
$62,395,000
Change: +21% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$55,185,000
Change: +7% · Conversion: Difficult
OFFICE BUILDING
$54,985,000
Change: +7% · Conversion: Difficult
MEDICAL BUILDING
$53,505,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$46.44M
Range $41.80M – $51.08M · ±10% · vs last sale $51.78M (Jul 14 2022)
Last sale anchor
$51.78M
Jul 14 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
$298 / 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
$317,590
Tax year 2022
Assessed value
$38,571,200
Assessed 2022
Previous assessed
$38,571,200
+0.0% YoY
Effective rate
0.82%
On assessed value
Assessed land
$11,729,500
Assessed improvement
$26,841,700
Land market value
$11,729,500
Improvement market value
$26,841,700
Total market value
$38,571,200
Applied tax rate
10.0000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1998
Construction
CONCRETE
Heating
OTHER
Cooling
OTHER
Stories
6
Total area
155,602 SF
Lot
0.54 ac (23,459 SF)
Zoning code
SM-UP 85 (M)
APN
199220-0235
UPID
US90-1200559
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
SM-UP 85 (M) · Seattle, WA
Zoning SM-UP 85 (M) · permitted uses
SM-UP 85 (M) · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Seattle. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$51.6M
AUTO REPAIR, GARAGE
Est. value
$64.0M
RETAIL STORES
Est. value
$62.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$55.2M
OFFICE BUILDING
Est. value
$55.0M
MEDICAL BUILDING
Est. value
$53.5M
HOTEL/MOTEL Current
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
MEDICAL 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
1998
Construction
CONCRETE
Heating
OTHER
Cooling
Yes
Stories
6
Lot
0.54 ac
Current owner
From public records · entity-resolved
Hit Portfolio II Owner LLC
Entity
Mailing address
11325 RANDOM HLS RD STE 360TH FAIRFAX
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 14, 2022
—
Hit Portfolio II Owner LLC
Arc Hospitality Portfolio II Owner
Quit Claim Deed
related
$465,000,000 · Morgan Stanley Bank NA
Mar 20, 2015
$51,783,329
Arc Hospitality Portfolio II O|arc Hospitality Por
W2007 Eqi Seattle Ptshp LP
Grant Deed
$227,000,000 · Ladder Cap Fin
Dec 11, 2006
—
Eqi Seattle Partnership LP
Equity Inns Partnership LP
Warranty Deed
$28,000,000 · Jpmorgan Chase Bank NA
Nov 13, 2000
—
Equity Inns Partnership LP
—
Deed Of Trust
related
$125,000,000 · Bank One NA Ttee
Aug 7, 1998
$17,811,200
Equity Inns Partnership LP
Western Avenue Associates LLC
Grant Deed
related
—
Jun 27, 1997
$1,179,200
Partners,elliott Bay Partners
Terra Firma Development Co
Trustees Deed
—
Jun 27, 1997
—
Western Avenue Associates LLC
Elliott Bay Partners
Trustees Deed
related
—
Jul 10, 1989
$212,500
Terra,firma Developmen
Mcintosh
Grant Deed
—
—
—
Arc Hospitality Portfolio II O
—
Deed Of Trust
related
$232,000,000 · Ladder Cap Fin
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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