15606 NE 40th St, Redmond, WA 98052

Multifamily · Redmond · Seattle-Bellevue metro, WA

One of 145 reachable multifamily buildings in Redmond. Larger than 99% of multifamily buildings in Redmond (median 78,355 SF), derived from assessor records.

Usable building area
568,468 SF, King County Assessor
County gross area
793,157 SF, King County Assessor
Excluded area
224,689 SF outside primary usable area
Lot size
1,328,299 SF, King County Assessor
Year built
1990, King County Assessor
Stories
3, King County Assessor
Buildings on parcel
2, King County Assessor
Predominant use
374-Unit Apt Complex, King County Assessor
Units
588, King County Assessor
Assessed value
$231,702,000, per the King County Assessor (not a market appraisal)
Assessed value per usable SF
$407.59/SF, derived from assessor records
Usable area / lot
0.43, derived from assessor records
Vintage
1990s vintage
Zoning
OUMF, King County
County use code
Apartment

Nearby comparable buildings

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

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Sale history and market context

MakeMe Estimate: $240M (estimated market value), with a likely range of $229M to $261M (half of recent verified sales in this segment landed inside that range). Based on 4 verified arm's-length comparable sales (through 2026-06-01). Not an appraisal. How this estimate works. About $408K per unit at the midpoint (588 units).

lower confidence: 2 comparable sales within 3 miles; nearest 0.2 mi.

Comparable sales used as evidence

Recorded arm's-length sales of similar buildings nearby; nearer and more recent sales rank first. Buyer and seller names are withheld. Get this data via API.

Market context: Multifamily in Redmond

median verified sale $552.24/SF over the trailing 24 months; median $390,625 per unit; 6 sales in the last 12 months and 6 in 24 (newest verified sale 2025-09).

  • 2021: $453.29/SF median (8 sales)
  • 2022: $490.61/SF median (4 sales)
  • 2025 YTD: $552.24/SF median (4 sales)

Computed from 145 verified arm's-length sales in King County public records (6 in the trailing 24 months). Free public records. Not an appraisal.

Last sold: 1997-06-03 for $41,125,000 (recorded arm's-length sale).

Ownership tenure is not asserted for this parcel: the most recent recorded transfer is a non-market conveyance.

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

Value over time

$0$100M$200M$300M201120142017202020232026$240M$232MCounty assessed valueMakeMe Estimate range

Dark line: county assessed value per King County tax rolls. Blue line: our estimate; dashed years are a modeled backcast built from recorded arm's-length sales in the building's segment, not estimates published at the time, and years without enough sales stay unmodeled. The shaded range is the model's measured error band; about half of verified sales in the segment land inside it. Diamonds: recorded arm's-length sales. Not an appraisal. How this estimate works.

Land, site, and value history

Assessed value moved from $59,849,000 (2011) to $231,702,000 (2026), up 287% over 15 years, per county tax rolls. The 2026 roll splits $231,702,000 into $59,773,400 land and $171,928,600 improvements.

Taxes

Permit history

Source: King County permit records (newest first).