Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$4,775,000
Assisted living facilities
31635 23rd S Ave Federal Way, WA 98003-8586
Entity Owned
17-yr Hold
Free & Clear
Property ID
US90-0888511
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
2009
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
35,526 SF
Lot
0.71 ac (30,834 SF)
Zoning code
CC-C
APN
092104-9299
UPID
US90-0888511
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.78M
Owner & transaction history
Senior City Limited Partnership · 17 yrs held
Senior City Limited Partnership
since 2008
7 recorded transactions
Zoning & alternative use
CC-C · Federal Way, 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 Federal Way submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Federal Way 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
$134 / 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
Applied tax rate
1,202.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
2009
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
4
Units
62
Total area
35,526 SF
Lot
0.71 ac (30,834 SF)
Zoning code
CC-C
APN
092104-9299
UPID
US90-0888511
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
CC-C · Federal Way, WAZoning CC-C · permitted uses
CC-C · Federal Way, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2009
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
4
Units
62
Lot
0.71 ac
Current owner
From public records · entity-resolved
Senior City Limited Partnership
Entity
Free & Clear · 17 yrs held
Ownership since
2008
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
Nov 14, 2008
—
Senior City Limited Partnership
Centralpuget Sound Regional Transit
Warranty Deed
—
May 1, 2006
—
City Of Federal Way
Central Puget Sound Regional T
Warranty Deed
—
Aug 12, 2004
—
Central Puget Sound Regional T
Qwest Corp
Quit Claim Deed
related
—
Jul 24, 2002
$1,380
Federal Way City (wa)
Cratsenberg Trust
Grant Deed
related
—
Sep 26, 2001
—
Cratsenberg Trust
Cratsenberg,andrew C & Luetta M
Quit Claim Deed
related
—
Aug 7, 2000
$26,400
Federal Way City (wa)
Cratsenberg,andrew C & Luetta M
Grant Deed
—
—
—
Senior City LP
—
Deed Of Trust
related
$2,103,335 · King County
—
—
Korean Womens Assn
—
Deed Of Trust
related
$372,109 · King County
—
—
Senior City LP
—
Deed Of Trust
related
$7,855,500 · Korean Women's Assn
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 31635 23rd S Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
