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Property profile & analytics
OFF-MARKET
Estimated value
$1,370,000
Apartment buildings
11320 Bridgeport SW Way Lakewood, WA 98499-3050
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1023599
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1964
Construction
WOOD FRAME
Total area
2,262 SF
Lot
0.54 ac (23,648 SF)
Zoning code
R4
APN
219111045
UPID
US90-1023599
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
-
Ayala Landscapes Construction LLC Landscaping General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.20M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.09M
Blend (final)
Blend
$1.37M
Owner & transaction history
Bridgeport 9 LLC · 4 yrs held
Bridgeport 9 LLC
since 2022
Last sale
$1.5M
3 recorded transactions
Zoning & alternative use
R4 · Lakewood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$965,000
+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
$1,565,000
ML approach
$1,195,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$880,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$965,000
Change: +9% · Conversion: Difficult
AUTO REPAIR, GARAGE
$835,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$1.37M
Range $1.23M – $1.51M · ±10% · vs last sale $1.50M (Jul 8 2022)
Last sale anchor
$1.50M
Jul 8 2022
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
$606 / 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
$12,805
Tax year 2024
Assessed value
$1,153,500
Assessed 2024
Previous assessed
$1,153,500
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$628,200
Assessed improvement
$525,300
Land market value
$628,200
Improvement market value
$525,300
Total market value
$1,153,500
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
1964
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Stories
1
Units
3
Total area
2,262 SF
Lot
0.54 ac (23,648 SF)
Zoning code
R4
APN
219111045
UPID
US90-1023599
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
R4 · Lakewood, WA
Zoning R4 · permitted uses
R4 · 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
$880,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$965,000
AUTO REPAIR, GARAGE
Est. value
$835,000
APARTMENT HOUSE (5+ UNITS) Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
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
1964
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
3
Units
3
Lot
0.54 ac
Current owner
From public records · entity-resolved
Bridgeport 9 LLC
Entity
Mailing address
17048 NE 120TH ST, REDMOND, WA 98052-1711
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 8, 2022
$1,499,100
Bridgeport 9 LLC
E&m Residential LLC
Warranty Deed
$1,293,926 · Sound Community Bank
Apr 20, 2021
—
E&m Residential LLC
Vhc Developments LLC
Quit Claim Deed
related
—
Mar 14, 2008
$465,000
Vhc Developments LLC
Dianne L Moseson
Warranty Deed
$310,000 · Washington Mutual Bank
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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