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Property profile & analytics
OFF-MARKET
Estimated value
$915,000
High-rise multifamily apartments
117 Tacoma Ave Tacoma, WA 98403-2640
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-0595046
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
1926
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,428 SF
Lot
0.6 ac (26,000 SF)
Zoning code
R5
APN
2031110011
UPID
US90-0595046
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
-
Spencer Construction Construction Company
-
town house apartments - apartments in tacoma, wa Apartment Building
-
Vista Properties, LLC Property Management Company
-
Limber Arts Holistic Personal Training Gym & Fitness Center
-
Peranzi Family Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$955k
Comparable Approach
Comparable
$603k
Blend (final)
Blend
$915k
Owner & transaction history
Townhouse Tacoma Apartments LLC · 5 yrs held
Townhouse Tacoma Apartments LLC
since 2021
6 recorded transactions
Zoning & alternative use
R5 · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.3M
+9.6%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,035,000
6.5%
$955,000
7%
$890,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,210,000
Current use
MEDICAL BUILDING
$1,330,000
Change: +10% · Conversion: Moderate
Blend value · Realmo final
$915k
Range $824k – $1.01M · ±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
$169 / 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
$92,793
Tax year 2024
Assessed value
$8,353,500
Assessed 2024
Previous assessed
$8,353,500
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$2,103,300
Assessed improvement
$6,250,200
Land market value
$2,103,300
Improvement market value
$6,250,200
Total market value
$8,353,500
Applied tax rate
5.0000
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
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
1926
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FLOOR/WALL FURNACE
Cooling
WALL UNIT
Buildings
4
Stories
1
Units
8
Total area
5,428 SF
Lot
0.6 ac (26,000 SF)
Zoning code
R5
APN
2031110011
UPID
US90-0595046
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
R5 · Tacoma, WA
Zoning R5 · permitted uses
R5 · 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.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.3M
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
1926
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
1
Buildings
4
Units
8
Lot
0.6 ac
Current owner
From public records · entity-resolved
Townhouse Tacoma Apartments LLC
Entity
Mailing address
117 N TACOMA AVE APT #201, TACOMA, WA 98403-2607
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 16, 2021
—
Townhouse Tacoma Apartments LLC
—
Deed
related
$4,000,000 · Telco Community Cu
Mar 25, 2013
—
Townhouse Tacoma Apartments Ll
—
Deed Of Trust
related
$3,400,000 · Washington Federal Savings
—
—
Townhouse Apartments LLC
—
Deed Of Trust
related
$2,335,000 · World Savings
—
—
Allendale LLC
—
Deed Of Trust
related
$2,800,000 · Wachovia Mortgage Fsb
—
—
Townhouse Apartments LLC
—
Deed Of Trust
related
$1,900,000 · World Savings
—
—
Dorothy LLC
—
Deed Of Trust
related
$1,260,000 · World Savings
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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