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Property profile & analytics
OFF-MARKET
Estimated value
$92,870,000
Apartment buildings
23028 27th SE Ave Bothell, WA 98021-7874
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-1215333
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1998
Construction
WOOD
Total area
221,381 SF
Lot
29.11 ac (1,268,032 SF)
Zoning code
R 4,000
APN
27053200200100
UPID
US90-1215333
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
-
Stonemeadow Farms Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$92.87M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$126.72M
Blend (final)
Blend
$92.87M
Owner & transaction history
Sea 27 Se 2022 LLC · 1 yrs held
Sea 27 Se 2022 LLC
since 2024
Last sale
$92.9M
7 recorded transactions
Zoning & alternative use
R 4,000 · Bothell, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Permit Center | Bothell WA
Top alternative use upside
Office building
$133.6M
+46.0%
Restaurant
$114.7M
+25.3%
Auto repair, garage
$96.1M
+4.9%
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 Bothell submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bothell 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
$92,870,000
ML approach
$92,870,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$91,555,000
Current use
OFFICE BUILDING
$133,640,000
Change: +46% · Conversion: Moderate
RESTAURANT
$114,730,000
Change: +25% · Conversion: Difficult
AUTO REPAIR, GARAGE
$96,050,000
Change: +5% · Conversion: Difficult
MEDICAL BUILDING
$86,435,000
Change: -6% · Conversion: Moderate
Blend value · Realmo final
$92.87M
Range $83.58M – $102.16M · ±10% · vs last sale $92.87M (Oct 16 2024)
Last sale anchor
$92.87M
Oct 16 2024
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
$420 / 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
$621,394
Tax year 2023
Assessed value
$79,385,000
Assessed 2023
Previous assessed
$79,385,000
+0.0% YoY
Effective rate
0.78%
On assessed value
Assessed land
$23,088,100
Assessed improvement
$56,296,900
Land market value
$23,088,100
Improvement market value
$56,296,900
Total market value
$79,385,000
Applied tax rate
902.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
1998
Construction
WOOD
Heating
YES
Cooling
NONE
Stories
1
Units
280
Rooms
280
Bathrooms
3
Total area
221,381 SF
Lot
29.11 ac (1,268,032 SF)
Zoning code
R 4,000
APN
27053200200100
UPID
US90-1215333
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
R 4,000 · Bothell, WAZoning R 4,000 · permitted uses
R 4,000 · Bothell, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Permit Center | Bothell WA
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$91.6M
OFFICE BUILDING
Est. value
$133.6M
RESTAURANT
Est. value
$114.7M
AUTO REPAIR, GARAGE
Est. value
$96.1M
MEDICAL BUILDING
Est. value
$86.4M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
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
WOOD
Heating
YES
Cooling
Yes
Stories
1
Units
280
Rooms
280
Bathrooms
3
Lot
29.11 ac
Current owner
From public records · entity-resolved
Sea 27 Se 2022 LLC
Entity
Mailing address
333 W WACKER DR STE STE STE EL SEGUNDO
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 16, 2024
$92,870,980
Sea 27 Se 2022 LLC
Lipt 27th Avenue Se LLC
Bargain And Sale Deed
$60,580,000 · Cbre Multifamily Capital INC
Jul 23, 2019
—
Lipt 27th Avenue Se LLC
—
Deed
related
$45,000,000 · Miscellaneous Ins Co
May 22, 2019
$81,800,000
Lipt 27th Avenue Se LLC
Aew Lt Stonemeadow Farms Apts
Grant Deed
—
Aug 23, 2004
$32,865,000
Stonemeadow Farms Apts INC
Second Multifamily Props LLC
Grant Deed
—
Jul 18, 2002
—
Second Multifamiy Properties
Smith Trust
Grant Deed
related
—
Sep 10, 1996
$4,300,000
Security Capital Pacific Trust
Canyon Crown LP
Grant Deed
related
—
Jan 31, 1996
$2,772,400
Canyon Crown LP
Garhart,william N
Grant Deed
$2,500,000 · Us Bank Of Washington
—
—
Lipt 27th Avenue Se LLC
—
Deed Of Trust
related
$45,000,000 · Miscellaneous Ins Co
—
—
Svc Properties II INC
—
Deed Of Trust
related
$16,766,100 · Federal Home Loan Mortgage Cor
—
—
Archstone-smith Trust
—
Deed Of Trust
related
$3,000 · Sfc Properties II 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.
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