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Property profile & analytics
OFF-MARKET
Estimated value
$60,425,000
Apartment buildings
3710 204th SW St, Lynnwood, WA 98036-6871
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0371111
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1986
Construction
WOOD
Total area
168,518 SF
Lot
0.51 ac (22,216 SF)
Zoning code
SI
APN
373100300101
UPID
US90-0371111
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
$38.78M
Comparable Approach
Comparable
$55.56M
Blend (final)
Blend
$60.43M
Owner & transaction history
Sreit Nickel Creek LLC · 4 yrs held
Sreit Nickel Creek LLC
since 2021
Last sale
$65.7M
7 recorded transactions
Zoning & alternative use
SI · Lynnwood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$87.3M
+25.3%
Auto repair, garage
$80.5M
+15.5%
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 Lynnwood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lynnwood 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
$76,310,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$42,010,000
6.5%
$38,780,000
7%
$36,010,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$69,690,000
Current use
RESTAURANT
$87,335,000
Change: +25% · Conversion: Difficult
AUTO REPAIR, GARAGE
$80,510,000
Change: +16% · Conversion: Difficult
MEDICAL BUILDING
$65,795,000
Change: -6% · Conversion: Moderate
Blend value · Realmo final
$60.43M
Range $54.38M – $66.47M · ±10% · vs last sale $65.74M (Dec 10 2021)
Last sale anchor
$65.74M
Dec 10 2021
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
$359 / 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
$384,182
Tax year 2023
Assessed value
$48,494,700
Assessed 2023
Previous assessed
$39,392,000
+23.1% YoY
Effective rate
0.79%
On assessed value
Assessed land
$5,694,100
Assessed improvement
$42,800,600
Land market value
$5,694,100
Improvement market value
$42,800,600
Total market value
$48,494,700
Applied tax rate
2,446.0000
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
1986
Construction
WOOD
Heating
YES
Cooling
NONE
Stories
2
Total area
168,518 SF
Lot
0.51 ac (22,216 SF)
Zoning code
SI
APN
373100300101
UPID
US90-0371111
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
SI · Lynnwood, WA
Zoning SI · permitted uses
SI · Lynnwood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lynnwood. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$69.7M
RESTAURANT
Est. value
$87.3M
AUTO REPAIR, GARAGE
Est. value
$80.5M
MEDICAL BUILDING
Est. value
$65.8M
APARTMENT HOUSE (5+ UNITS) Current
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
1986
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Lot
0.51 ac
Current owner
From public records · entity-resolved
Sreit Nickel Creek LLC
Entity
Mailing address
200 E BROWARD BLVD #1410, FT LAUDERDALE, FL 33301-1963
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 10, 2026
—
Sreit Nickel Creek L L C
—
Deed
related
$37,977,000 · Walker & Dunlop LLC
Dec 10, 2021
$65,736,000
Sreit Nickel Creek LLC
Strata Nickel LLC
Special Warranty Deed
—
May 2, 2019
—
Strata Nickel LLC
—
Deed
related
$5,032,000 · Cbre Cap Markets
Oct 2, 2015
$29,000,000
Strata Nickel LLC
Ergs Vii Reo Owner LLC
Grant Deed
$20,300,000 · Cbre Cap Markets
Jun 20, 2012
$22,000,000
Ergs Vii Reo Owner LLC
Holland Holdings II Amberwood Villa
Special Warranty Deed
—
Dec 20, 2011
—
Holdings Holland II
—
Deed Of Trust
related
$14,134,000 · Cbre Capital Markets INC
Dec 16, 2004
$13,750,000
Holdings Holland II
Park Promenade LLC
Warranty Deed
related
$9,750,000 · Gmac Commercial Mortgage Bank
Aug 30, 2001
—
Cv Ambercrest LLC
Amber-crest LP
Quit Claim Deed
related
$52,000,000 · Salomon Brothers Realty Corp
Apr 9, 1999
$11,641,490
Amber-crest LP
Larchwood Village Apartments
Grant Deed
related
$30,064,000 · Lehman Capital Corp
Dec 29, 1998
—
Larchwood Village Apts LP
—
Deed Of Trust
related
$7,300,000 · Gmac Commercial Mortgage Corp
Jul 1, 1994
$1,000
—
—
Quit Claim Deed
related
—
—
—
Strata Nickel LLC
—
Deed Of Trust
related
$5,032,000 · Cbre Cap Markets
—
—
Holdings Holland II
—
Deed Of Trust
related
$5,871,000 · Capmark Bank
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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