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Property profile & analytics
OFF-MARKET
Estimated value
$2,935,000
Apartment buildings
102 23rd SW Ave Puyallup, WA 98371-7527
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-1467756
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
2002
Construction
WOOD FRAME
Total area
15,245 SF
Lot
7.33 ac (319,295 SF)
Zoning code
RM-20
APN
419041122
UPID
US90-1467756
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
-
Deanna Brown, LMHC Medical Clinic
-
Miss Johanna Boyd Marriage Or Relationship Counselor
-
Johanna Nicole Boyd Marriage Or Relationship Counselor
-
Cornerstone Counseling, LLC Marriage Or Relationship Counselor Counselor
-
Integrated Health and Wellness Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.84M
Comparable Approach
Comparable
$2.72M
Blend (final)
Blend
$2.94M
Owner & transaction history
Heights Apts Puyallup LLC · 6 yrs held
Heights Apts Puyallup LLC
since 2019
7 recorded transactions
Zoning & alternative use
RM-20 · Puyallup, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$4.7M
+61.5%
Medical building
$4.2M
+43.5%
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 Puyallup submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Puyallup 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,075,000
6.5%
$2,840,000
7%
$2,635,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,915,000
Current use
RETAIL STORES
$4,710,000
Change: +61% · Conversion: Difficult
MEDICAL BUILDING
$4,185,000
Change: +43% · Conversion: Moderate
Blend value · Realmo final
$2.94M
Range $2.64M – $3.23M · ±10%
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
$193 / 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
$267,427
Tax year 2024
Assessed value
$26,805,100
Assessed 2024
Previous assessed
$26,805,100
+0.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$7,661,800
Assessed improvement
$19,143,300
Land market value
$7,661,800
Improvement market value
$19,143,300
Total market value
$26,805,100
Applied tax rate
96.0000
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
2002
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
CENTRAL
Buildings
8
Stories
3
Units
16
Total area
15,245 SF
Lot
7.33 ac (319,295 SF)
Zoning code
RM-20
APN
419041122
UPID
US90-1467756
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
RM-20 · Puyallup, WA
Zoning RM-20 · permitted uses
RM-20 · Puyallup, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Puyallup. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.9M
RETAIL STORES
Est. value
$4.7M
MEDICAL BUILDING
Est. value
$4.2M
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
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
2002
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
Yes
Stories
3
Buildings
8
Units
16
Lot
7.33 ac
Current owner
From public records · entity-resolved
Heights Apts Puyallup LLC
Entity
Mailing address
PO BOX 4508, FEDERAL WAY, WA 98063-4508
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
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 16, 2019
—
Heights Apts Puyallup LLC
—
Deed
related
$14,170,000 · Cbre Cap Markets
Dec 12, 2019
—
Heights Apts Puyallup LLC
Tyroda LLC
Correction Deed
related
—
Nov 22, 2019
—
Rlk Investments LLC
Ross Klinger
Quit Claim Deed
related
—
May 1, 2018
$194,453
Candice Hagen
G K Heights LLC
Warranty Deed
$13,497,000 · Opus Bank
Dec 30, 2016
—
Heights Investors LLC
—
Deed
related
$9,500,000 · Opus Bank
May 10, 2005
—
City Of Puyallup
Gk Heights LLC
Warranty Deed
—
Oct 20, 2004
$1,727,519
G K Heights LLC
Heights Investors LLC
Warranty Deed
related
—
Oct 6, 2004
$6,728,532
Gk Heights LLC
Heights Investors LLC
Warranty Deed
related
—
—
—
Heights Investors LLC
—
Deed Of Trust
related
$8,300,000 · Opus Bank
—
—
Heights Apts Puyallup LLC
—
Deed Of Trust
related
$14,170,000 · Cbre Cap Markets
—
—
Heights Investors LLC
—
Deed Of Trust
related
—
—
—
Heights Investors LLC
—
Deed Of Trust
related
$8,000,000 · Wachovia Bank NA
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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