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Property profile & analytics
OFF-MARKET
Estimated value
$1,155,000
Apartment buildings
10304 24th E St, Edgewood, WA 98372
Entity Owned
8-yr Hold
Free & Clear
Property ID
US90-1445744
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1984
Construction
WOOD FRAME
Total area
6,240 SF
Lot
3.71 ac (161,477 SF)
Zoning code
TC
APN
420107030
UPID
US90-1445744
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.16M
Comparable Approach
Comparable
$983k
Blend (final)
Blend
$1.16M
Owner & transaction history
Project S22 LLC · 8 yrs held
Project S22 LLC
since 2018
7 recorded transactions
Zoning & alternative use
TC · Edgewood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.7M
+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 Edgewood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Edgewood 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%
$1,260,000
6.5%
$1,160,000
7%
$1,080,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,195,000
Current use
MEDICAL BUILDING
$1,715,000
Change: +43% · Conversion: Moderate
Blend value · Realmo final
$1.16M
Range $1.04M – $1.27M · ±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
$185 / 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
$59,046
Tax year 2024
Assessed value
$5,355,200
Assessed 2024
Previous assessed
$5,355,200
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$3,857,400
Assessed improvement
$1,497,800
Land market value
$3,857,400
Improvement market value
$1,497,800
Total market value
$5,355,200
Applied tax rate
770.0000
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 (5+ UNITS)
Status
Off-Market
Year built
1984
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
CENTRAL
Buildings
6
Stories
2
Units
6
Total area
6,240 SF
Lot
3.71 ac (161,477 SF)
Zoning code
TC
APN
420107030
UPID
US90-1445744
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
TC · Edgewood, WA
Zoning TC · permitted uses
TC · Edgewood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Edgewood. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.7M
APARTMENT HOUSE (5+ UNITS) Current
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
1984
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
Yes
Stories
2
Buildings
6
Units
6
Lot
3.71 ac
Current owner
From public records · entity-resolved
Project S22 LLC
Entity
Free & Clear · 8 yrs held
Mailing address
18605 17TH AVE NW, SHORELINE, WA 98177-3316
Ownership since
2018
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
Jul 8, 2019
—
Project S22 LLC
—
Deed
related
—
May 31, 2018
$1,623,574
Project S22 LLC
2506 103rd Street East LLC
Warranty Deed
—
May 25, 2018
$1,623,574
George Webb
Stratford Fund I LLC
Warranty Deed
related
—
Jan 19, 2018
$3,417,800
2506 103rd Street East LLC
Lunz,james G & Susan A
Warranty Deed
related
—
Nov 22, 2017
—
Stratford Fund I LLC
2506 103rd Street East LLC
Warranty Deed
—
Nov 22, 2017
$1,888,864
George Webb
Stratford Fund I LLC
Warranty Deed
—
Oct 24, 2016
—
2506 103rd Street East LLC
—
Deed
related
$4,100,000 · Boeing Emps Cu
Apr 30, 2008
$3,425,000
2506 103rd Street East LLC
Lunz,james G & Susan A
Warranty Deed
$3,225,000 · Cascade Bank
Mar 13, 1998
$1,100,000
James G Lunz
Evergreen Capital Trust
Grant Deed
—
—
—
2506 103rd Street East LLC
—
Deed Of Trust
related
$2,847,900 · Admirals Bank
—
—
Project S22 LLC
—
Loan Modification
related
—
—
—
2506 103rd Street East LLC
—
Deed Of Trust
related
$4,100,000 · Boeing Emps Cu
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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