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Property profile & analytics
OFF-MARKET
Estimated value
$870,000
Apartment buildings
10607 Kendrick SW St Lakewood, WA 98499-4202
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-0858994
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,033 SF
Lot
0.24 ac (10,500 SF)
Zoning code
MF1
APN
5080001230
UPID
US90-0858994
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
$840k
CAP Approach
CAP
$565k
Comparable Approach
Comparable
$746k
Blend (final)
Blend
$870k
Owner & transaction history
Kendrick Apartments LLC · 3 yrs held
Kendrick Apartments LLC
since 2023
Last sale
$950,000
7 recorded transactions
Zoning & alternative use
MF1 · Lakewood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.3M
+9.4%
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 Lakewood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lakewood 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
$860,000
ML approach
$840,000
CAP Approach
CAP Return
Estimation
6%
$610,000
6.5%
$565,000
7%
$525,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,180,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,295,000
Change: +9% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,120,000
Change: -5% · Conversion: Difficult
COMMERCIAL (GENERAL)
$955,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$870k
Range $783k – $957k · ±10% · vs last sale $950k (Apr 28 2023)
Last sale anchor
$950k
Apr 28 2023
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
$287 / 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
$8,604
Tax year 2024
Assessed value
$792,400
Assessed 2024
Previous assessed
$792,400
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$436,400
Assessed improvement
$356,000
Land market value
$436,400
Improvement market value
$356,000
Total market value
$792,400
Applied tax rate
760.0000
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
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FLOOR/WALL FURNACE
Cooling
WALL UNIT
Stories
1
Units
4
Total area
3,033 SF
Lot
0.24 ac (10,500 SF)
Zoning code
MF1
APN
5080001230
UPID
US90-0858994
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
MF1 · Lakewood, WA
Zoning MF1 · permitted uses
MF1 · Lakewood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lakewood. 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
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$955,000
APARTMENT HOUSE (5+ UNITS) Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
1
Units
4
Lot
0.24 ac
Current owner
From public records · entity-resolved
Kendrick Apartments LLC
Entity
Mailing address
3027 11TH AVE W, SEATTLE, WA 98119-1803
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 6, 2025
—
Kendrick Apartments LLC
—
Deed
related
$500,000 · Portage Bank
Dec 18, 2024
—
Kendrick Apartments LLC
—
Deed
related
$492,250 · Vontive INC
Apr 28, 2023
$950,000
Kendrick Apartments LLC
10607 Kendrick St LLC
Warranty Deed
—
Sep 16, 2020
$440,000
10607 Kendrick St LLC
Joseph J Vaccarella
Warranty Deed
$443,875 · Center Street Lending Viii Spe LLC
May 21, 1996
—
Charles J Johnson
Starkey Co
Quit Claim Deed
related
—
May 21, 1996
$135,000
Vaccarella,joseph J
Kissel,jean-paul & Nina C
Trustees Deed
$100,000 · First Community Bank Washingto
Aug 9, 1991
$96,500
Jean-paul Kissel
Unknown
Grant Deed
$10,615 · Seller
—
—
Joseph J Vaccarella
—
Deed Of Trust
related
$105,000 · Weyerhaeuser Mortgage Co
—
—
Joseph J Vaccarella
—
Deed Of Trust
related
$104,200 · Countrywide Home Loans INC
—
—
Joseph J Vaccarella
—
Deed Of Trust
related
$105,400 · Countrywide Home Loans INC
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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