12412 NE 120th St, Kirkland, WA 98034

Multifamily · Kirkland · Seattle-Bellevue metro, WA

Imagery suggests: mid-rise apartment, appears multi-tenant. AI estimate from public imagery. In recent public imagery (2026-06), the building appears well maintained. AI estimate from public imagery; may be outdated.

One of 188 reachable multifamily buildings in Kirkland. Larger than 99% of multifamily buildings in Kirkland (median 8,700 SF), derived from assessor records.

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Building size: 807,341 SF, King County Assessor
Lot size: 209,309 SF, King County Assessor
Year built: 2023, King County Assessor
Stories: 7, King County Assessor
Predominant use: 486-Unit Mixed-Use 3-Bldg Apt Complex, King County Assessor
Units: 486, King County Assessor
Assessed value: $196,269,066, per the King County Assessor (not a market appraisal)
Assessed value per building SF: $243.11/SF, derived from assessor records
Lot coverage: 386%, derived from assessor records
Vintage: 2020s vintage
Zoning: TL 6A, King County
County use code: Apartment(Mixed Use)
Construction (observed): wood frame, AI estimate from public imagery
Parking (observed): none visible, AI estimate from public imagery
Frontage (observed): mid block, AI estimate from public imagery

Nearby comparable buildings

Same building type, by distance. Assessor facts only; not an opinion of value.

12531 NE 124th St, Kirkland · 0.1 mi · 74,858 SF · built 2017 · assessed $339.50/SF
12601 NE 124th St, Kirkland · 0.1 mi · 68,031 SF · built 2011 · assessed $293.76/SF
12062 Slater Ave NE, Kirkland · 0.1 mi · 75,814 SF · built 1988 · assessed $357.57/SF
12714 NE 118th St, Kirkland · 0.2 mi · 3,328 SF · built 1979 · assessed $372.30/SF
12622 NE 118th St, Kirkland · 0.2 mi · 3,328 SF · built 1979 · assessed $372.30/SF
12704 NE 118th St, Kirkland · 0.2 mi · 3,328 SF · built 1979 · assessed $372.30/SF

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Sale history and market context

MakeMe Estimate: $221,004,932 (estimated market value), with a likely range of $201,866,880 to $228,078,904 (half of recent verified sales in this segment landed inside that range). Based on 98 verified arm's-length comparable sales (through 2026-05-29). Not an appraisal. How this estimate works. About $455K per unit at the midpoint (486 units).

Last sold: 2021-09-15 for $25,250,000 (recorded arm's-length sale).

Current ownership dates to 2021 (about 5 years) per recorded transfers.

2022-04-19: transfer from Fairfield Slater LLC to Kirkland City of (non-market transfer), rec. 20220708000350

2021-09-15: $25,250,000 from Alco Totem Lake LLC to Fairfield Slater LLC, rec. 20210916000772

2018-03-22: $10,000,000 from Private party to Alco Totem Lake LLC, rec. 20180327001333

3 administrative transfers (no consideration), 2001 to 2015

Source: King County recorded sales extract; buyer and seller shown only when a company or organization. Individual names are withheld.

Value over time

Solid line: county appraised value per King County tax rolls. Shaded range: our modeled estimate for each year, built from recorded arm's-length sales in the building's segment; years without enough sales stay unmodeled. Dots: recorded arm's-length sales. Not an appraisal. How this estimate works.

Land, site, and value history

Assessed value moved from $4,776,200 (2011) to $196,269,066 (2026), up 4009% over 15 years, per county tax rolls. The 2026 roll splits $196,269,066 into $17,791,200 land and $178,477,866 improvements.

Zoning: TL 6A (per King County)

Lot: 209,309 sq ft

Water: Water District (per King County)

Sewer: Public (per King County)

Access: Public

Street surface: Paved

Floor and use mix: Apartment 588,961 SF; Parking Levels (Intermediate/Under Building) 202,439 SF; Retail Store 15,941 SF (county building sections)

County districts report (schools, fire, sewer, council; on kingcounty.gov)

Permit history

2024-11-13: Electrical, declared value $12,100 (Revisit), permit ELV24-08805

2024-11-13: Electrical, declared value $10,200 (Revisit), permit ELV24-08811

2024-11-01: Other, declared value $96,000 (Revisit), permit FIR24-08037

2024-09-24: Sign, declared value $22,380 (Revisit), permit SGN24-06608

2024-05-02: Other, declared value $400,000 (Revisit), permit FIR24-00015

2024-04-30: Other, declared value $575,000 (Revisit), permit MMF22-08597

2024-04-18: Electrical, declared value $204,000 (Revisit), permit ENR24-02869

2024-04-15: Other, declared value $420,000 (Revisit), permit MMF22-08323

2024-04-01: Other, declared value $400,000 (Revisit), permit FIR23-07213

2024-02-07: Electrical, declared value $2,437,500 (Revisit), permit EMF23-01270

Source: King County permit records (newest first).