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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Apartment buildings
1122 Lafayette S St Tacoma, WA 98444-4047
Individually Owned
Property ID
US90-1635216
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1957
Construction
FRAME
Total area
2,546 SF
Lot
0.16 ac (7,000 SF)
Zoning code
SF
APN
5845000191
UPID
US90-1635216
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
$460k
CAP Approach
CAP
$450k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$510k
Owner & transaction history
Lai Franky Lam Shung
Lai Franky Lam Shung
since 2026
Last sale
$690,000
7 recorded transactions
Zoning & alternative use
SF · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Tacoma submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tacoma 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
$405,000
ML approach
$460,000
CAP Approach
CAP Return
Estimation
6%
$485,000
6.5%
$450,000
7%
$415,000
Blend value · Realmo final
$510k
Range $459k – $561k · ±10% · vs last sale $690k (Feb 25 2026)
Last sale anchor
$690k
Feb 25 2026
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
$200 / 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
$6,264
Tax year 2024
Assessed value
$550,700
Assessed 2024
Previous assessed
$550,700
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$151,700
Assessed improvement
$399,000
Land market value
$151,700
Improvement market value
$399,000
Total market value
$550,700
Applied tax rate
515.0000
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
1957
Construction
FRAME
Heating
BASEBOARD
Stories
1
Units
4
Bathrooms
4
Total area
2,546 SF
Lot
0.16 ac (7,000 SF)
Zoning code
SF
APN
5845000191
UPID
US90-1635216
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
SF · Tacoma, WA
Zoning SF · permitted uses
SF · Tacoma, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tacoma. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1957
Construction
FRAME
Heating
BASEBOARD
Stories
1
Units
4
Bathrooms
4
Lot
0.16 ac
Current owner
From public records · entity-resolved
Lai Franky Lam Shung
Individual
Mailing address
1122 LAFAYETTE ST S, TACOMA, WA 98444-4047
Ownership since
2026
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
Feb 25, 2026
—
Lai Franky Lam Shung
Joy Tan Lam Jeraishy
Deed
related
—
Feb 25, 2026
$690,000
Lai Franky Lam Shung
Anthony Harris
Warranty Deed
$517,500 · Nexa Mortgage LLC
Jun 5, 2023
—
Anthony Harris
—
Deed
related
$646,767 · Pennymac Loan Services LLC
Sep 12, 2022
$620,000
Anthony Harris
Tyler Hatlen
Warranty Deed
$634,260 · Geneva Financial LLC
Sep 12, 2022
—
Anthony Harris
Holly Brown
Intrafamily Transfer
related
—
Mar 31, 2021
—
Tyler Hatlen
—
Deed
related
$332,000 · Home Point Financial Corporation
Aug 29, 2017
$401,769
Tyler Hatlen
William C Markham
Warranty Deed
$301,537 · Freedom Mortgage Corp
Jul 9, 1998
$111,400
William C Markham
Atkinson,roger D
Grant Deed
—
Oct 25, 1995
$123,500
Patrick Williams
Atkinson,roger
Grant Deed
$123,500 · Seller
Jun 9, 1994
$125,357
Roger Atkinson
Johnson,robert L
Grant Deed
—
Nov 5, 1993
$135,000
Robert L Johnson
Karr,paul D & Ru
Grant Deed
$117,000 · Seller
—
—
William C Markham
—
Deed Of Trust
related
$108,300 · Soundview Mortgage Co
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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