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Property profile & analytics
OFF-MARKET
Estimated value
$2,065,000
Apartment buildings
12413 Bridgeport SW Way Lakewood, WA 98499-3376
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-3048841
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1955
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,292 SF
Lot
2.62 ac (114,127 SF)
Zoning code
MF2
APN
219123054
UPID
US90-3048841
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
-
Gen Villa Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.13M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.21M
Blend (final)
Blend
$2.07M
Owner & transaction history
12413 Bridgeport LLC · 4 yrs held
12413 Bridgeport LLC
since 2021
Last sale
$1.9M
4 recorded transactions
Zoning & alternative use
MF2 · Lakewood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.9M
+18.3%
Neighborhood: shopping center
$2.7M
+9.4%
Industrial (general)
$2.7M
+8.4%
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
$2,195,000
ML approach
$2,130,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,450,000
Current use
RESTAURANT
$2,900,000
Change: +18% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,680,000
Change: +9% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,655,000
Change: +8% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,320,000
Change: -5% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,980,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$2.07M
Range $1.86M – $2.27M · ±10% · vs last sale $1.90M (Dec 29 2021)
Last sale anchor
$1.90M
Dec 29 2021
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
$328 / 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
$25,861
Tax year 2024
Assessed value
$2,345,000
Assessed 2024
Previous assessed
$2,345,000
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$1,241,600
Assessed improvement
$1,103,400
Land market value
$1,241,600
Improvement market value
$1,103,400
Total market value
$2,345,000
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
1955
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
2
Units
6
Total area
6,292 SF
Lot
2.62 ac (114,127 SF)
Zoning code
MF2
APN
219123054
UPID
US90-3048841
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
MF2 · Lakewood, WA
Zoning MF2 · permitted uses
MF2 · 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
$2.5M
RESTAURANT
Est. value
$2.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.7M
INDUSTRIAL (GENERAL)
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.3M
COMMERCIAL (GENERAL)
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
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
1955
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
2
Units
6
Lot
2.62 ac
Current owner
From public records · entity-resolved
12413 Bridgeport LLC
Entity
Mailing address
14011 NE 71ST PL, REDMOND, WA 98052-4163
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 29, 2021
$1,897,500
12413 Bridgeport LLC
Rayco Properties LLC
Warranty Deed
$1,548,000 · Coastal Community Bank
Mar 1, 2005
$407,500
Rayco Properties LLC
Reeder Family Ptshp
Warranty Deed
$220,000 · Heritage Bank
—
—
Rayco Properties LLC
—
Deed Of Trust
related
$400,000 · Heritage Bank
—
—
Rayco Properties LLC
—
Deed Of Trust
related
$415,000 · Commencement 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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