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Property profile & analytics
OFF-MARKET
Estimated value
$1,940,000
Assisted living facilities
32290 1st S Ave, Federal Way, WA 98003-5722
Individually Owned
16-yr Hold
~
Est. High Equity
Property ID
US90-1668548
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
132,297 SF
Lot
10.73 ac (467,375 SF)
Zoning code
OP
APN
172104-9039
UPID
US90-1668548
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
$1.94M
Owner & transaction history
Lakehaven Utility Dist · 16 yrs held
Lakehaven Utility Dist
since 2009
7 recorded transactions
Zoning & alternative use
OP · 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
$15 / 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
$238,759
Tax year 2022
Assessed value
$23,734,500
Assessed 2022
Previous assessed
$23,734,500
+0.0% YoY
Effective rate
1.01%
On assessed value
Assessed land
$3,393,800
Assessed improvement
$20,340,700
Land market value
$3,393,800
Improvement market value
$20,340,700
Total market value
$23,734,500
Applied tax rate
1,205.0000
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
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Buildings
2
Stories
3
Units
211
Total area
132,297 SF
Lot
10.73 ac (467,375 SF)
Zoning code
OP
APN
172104-9039
UPID
US90-1668548
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
OP · Federal Way, WA
Zoning OP · permitted uses
OP · Federal Way, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Federal Way. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Stories
3
Buildings
2
Units
211
Lot
10.73 ac
Current owner
From public records · entity-resolved
Lakehaven Utility Dist
Individual
Mailing address
500 N DEARBORN ST STE #400, CHICAGO, IL 60654-3386
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2009
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
Dec 30, 2025
—
Blc Federal Way LLC
—
Deed
related
$230,000 · Capital One NA
Dec 21, 2021
—
Blc Federal Way LLC
—
Deed
related
$100,000,000 · Capital One NA
Jun 19, 2017
—
Blc Federal Way LLC
—
Deed
related
$19,470,000 · Cbre Multifamily Cap
Sep 1, 2010
—
Blc Federal Way LLC
—
Deed Of Trust
related
$160,070,000 · Prudential Insurance Co
Aug 13, 2009
$7,350
Lakehaven Utility Dist
Blc Federal Way LLC
Grant Deed
—
May 5, 2006
$41,600,000
Blc Federal Way LLC
Aew/careage Federal Way LLC
Special Warranty Deed
—
Dec 17, 1998
$850,000
Aew/careage-federal Way LLC
Group Health Co-op Puget Sound
Grant Deed
—
—
—
Blc Federal Way LLC
—
Deed Of Trust
related
$19,470,000 · Cbre Multifamily Cap
—
—
Aew/careage-federal Way LLC
—
Deed Of Trust
related
$18,700,000 · Gmac Commercial Mortgage Bank
—
—
Blc Federal Way LLC
—
Deed Of Trust
related
$20,930,000 · Prudential Insurance Co
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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