23502 16th Ave S, Des Moines, WA 98198

Multifamily · Des Moines · Seattle-Bellevue metro, WA

One of 73 reachable multifamily buildings in Des Moines. Larger than 92% of multifamily buildings in Des Moines (median 14,387 SF), derived from assessor records.

Usable building area
69,570 SF, King County Assessor
Lot size
206,474 SF, King County Assessor
Year built
1976, King County Assessor
Stories
2, King County Assessor
Predominant use
Apartment, King County Assessor
Units
112, King County Assessor
Assessed value
$21,778,000, per the King County Assessor (not a market appraisal)
Assessed value per usable SF
$313.04/SF, derived from assessor records
Usable area / lot
0.34, derived from assessor records
Vintage
1970s vintage
Zoning
RM-1800, 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: $22.2M (estimated market value), with a likely range of $21.3M to $24.2M (half of recent verified sales in this segment landed inside that range). Based on 5 verified arm's-length comparable sales (through 2026-06-01). Not an appraisal. How this estimate works. About $199K per unit at the midpoint (112 units).

lower confidence: 2 comparable sales within 3 miles; nearest 2.4 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 Des Moines

median verified sale $237.68/SF over the trailing 24 months; median $181,567 per unit; 5 sales in the last 12 months and 6 in 24 (newest verified sale 2026-02).

  • 2023: $274.04/SF median (4 sales)
  • 2025: $237.68/SF median (4 sales)

Computed from 144 verified arm's-length sales in King County public records (6 in the trailing 24 months). Free public records. Not an appraisal.

Last sold: 2016-01-13 for $13,730,000 (recorded arm's-length sale).

Current ownership dates to 2016 (about 10 years) per recorded transfers.

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

Value over time

$0$10M$20M$30M201120142017202020232026Last sold $13.7M · 2016$22.2M$21.8MCounty assessed valueMakeMe Estimate rangeRecorded sale

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 $7,277,000 (2011) to $21,778,000 (2026), up 199% over 15 years, per county tax rolls. The 2026 roll splits $21,778,000 into $3,510,000 land and $18,268,000 improvements.

Taxes

Permit history

Source: King County permit records (newest first).