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Property profile & analytics
OFF-MARKET
Estimated value
$2,675,000
Assisted living facilities
607 28th Ave Milton, WA 98354-9343
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US90-0358262
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1995
Construction
WOOD FRAME
Total area
77,482 SF
Lot
4.71 ac (205,168 SF)
Zoning code
RM
APN
420041103
UPID
US90-0358262
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
-
Village Concepts of Milton - Mill Ridge Village Nursing Home Retirement Community
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.68M
Owner & transaction history
Mill Ridge Assets LLC · 7 yrs held
Mill Ridge Assets LLC
since 2019
7 recorded transactions
Zoning & alternative use
RM · Milton, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Parking or storage of recreational vehicles, watercraft or utility trailers for compensation is not permitted within a residential zone (RS, RM, or RMD). This subsection does not apply to storage facilities provided exclusively for tenants of multifamily dwelling complexes. D. No recreational vehicle may be used as an accessory structure to a residence or op…
Zone name
Residential Multifamily District
General category
RESIDENTIAL
Zone area
172.31 ac
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 Milton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Milton 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
$35 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$128,628
Tax year 2024
Assessed value
$12,885,800
Assessed 2024
Previous assessed
$12,885,800
+0.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$4,033,800
Assessed improvement
$8,852,000
Land market value
$4,033,800
Improvement market value
$8,852,000
Total market value
$12,885,800
Applied tax rate
79.0000
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
1995
Construction
WOOD FRAME
Heating
HEAT PUMP
Cooling
CENTRAL
Stories
2
Units
84
Bathrooms
2
Total area
77,482 SF
Lot
4.71 ac (205,168 SF)
Zoning code
RM
APN
420041103
UPID
US90-0358262
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
RM · Milton, WAZoning RM · permitted uses
RM · Milton, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Parking or storage of recreational vehicles, watercraft or utility trailers for compensation is not permitted within a residential zone (RS, RM, or RMD). This subsection does not apply to storage facilities provided exclusively for tenants of multifamily dwelling complexes. D. No recreational vehicle may be used as an accessory structure to a residence or operating business, nor to accommodate a residential accessory use. ( Ord. 1717
Zone name
Residential Multifamily District
General category
RESIDENTIAL
Zone area
172.31 ac
Building & site characteristics
From public records
Year built
1995
Construction
WOOD FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
2
Units
84
Bathrooms
2
Lot
4.71 ac
Current owner
From public records · entity-resolved
Mill Ridge Assets LLC
Entity
Mailing address
2020 A ST SE STE #101, AUBURN, WA 98002-6807
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
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
Apr 1, 2019
—
Mill Ridge Assets LLC
Country Class Assets LLC
Quit Claim Deed
related
$5,290,000 · Keybank USA
Nov 23, 2004
—
Country Class Assets LLC
Skagit Of Edgewood Retirement Apa
Grant Deed
related
$12,738,083 · Bank Of America
Sep 25, 1997
—
Skagit/edgewood Retirement
—
Deed Of Trust
related
$3,000,000 · Security Connecticut Life Ins
May 7, 1997
—
Skagit/edgewood Retirement
Edgewood Retirement Apartments
Quit Claim Deed
related
$4,700,000 · Northern Life Insurance Co
May 5, 1997
—
Rickney Brown
Jensen,cynthia L
Quit Claim Deed
related
—
Nov 5, 1993
$162,500
Rick D Brown
Brown,william D
Quit Claim Deed
related
$162,500 · Seller
Sep 25, 1991
$300,000
William D Etal Brown
Unknown
Grant Deed
—
—
—
Rick D Brown
—
Deed Of Trust
related
$2,738,602 · Brown Building Co LLC
—
—
Edgewood Retirement Apartments
—
Deed Of Trust
related
$3,700,000 · Key Bank Of Washington
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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