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Property profile & analytics
OFF-MARKET
Estimated value
$21,550,000
Apartment buildings
23511 56th W Ave Mountlake Terrace, WA 98043-5256
Entity Owned
10-yr Hold
Property ID
US90-1383152
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
2019
Construction
WOOD
Total area
152,942 SF
Lot
1.21 ac (52,734 SF)
Zoning code
P1
APN
521100400700
UPID
US90-1383152
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
-
Mountlake Terrace Tree Service Landscaping General Contractor
-
Mobilize Physical Therapy Medical Clinic
-
Atlas 236 Apartments Apartment Building Apartment Complex
-
Baguus Little Asia Restaurant
-
Namaste Studio Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$21.55M
Owner & transaction history
Acacia Terrace LLC · 10 yrs held
Acacia Terrace LLC
since 2015
6 recorded transactions
Zoning & alternative use
P1 · Mountlake Terrace, 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 Mountlake Terrace submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mountlake Terrace 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
$141 / 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
$107,241
Tax year 2023
Assessed value
$35,757,600
Assessed 2023
Previous assessed
$21,284,000
+68.0% YoY
Effective rate
0.30%
On assessed value
Assessed improvement
$35,757,600
Improvement market value
$35,757,600
Total market value
$35,757,600
Applied tax rate
610.0000
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
2019
Construction
WOOD
Heating
YES
Cooling
NONE
Stories
5
Rooms
5
Bathrooms
1
Total area
152,942 SF
Lot
1.21 ac (52,734 SF)
Zoning code
P1
APN
521100400700
UPID
US90-1383152
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
P1 · Mountlake Terrace, WA
Zoning P1 · permitted uses
P1 · Mountlake Terrace, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mountlake Terrace. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2019
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
5
Rooms
5
Bathrooms
1
Lot
1.21 ac
Current owner
From public records · entity-resolved
Acacia Terrace LLC
Entity
Mailing address
23609 56TH AVE W APT #100, MOUNTLAKE TERRACE, WA 98043-5200
Ownership since
2015
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
Jun 9, 2022
—
Acacia Terrace LLC
—
Deed
related
$39,000,000 · Metlife Real Estate Lending LLC
Mar 13, 2019
—
Acacia Terrace LLC
—
Deed
related
$28,000,000 · Umpqua Bank
Dec 30, 2015
$1,585,000
Acacia Terrace LLC
Calvary Tabernacle United Pent
Warranty Deed
—
Dec 22, 1999
$134,000
Tabernacle United Pete Clavary
Blayclock,gary O & Teddi
Grant Deed
$107,200 · Washington Federal Savings
Apr 24, 1998
$132,000
Gary O Blaylock
Chang,chun N
Grant Deed
$105,600 · Keystone Mortgage
Feb 2, 1994
$90,000
Chun N Chang
Gantz,dwayne A &
Grant Deed
$72,000 · World Savings & Loan
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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