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Property profile & analytics
OFF-MARKET
Estimated value
$1,260,000
Apartment buildings
126 121st S St, Tacoma, WA 98444-5102
Individually Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-1597646
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1992
Construction
WOOD FRAME
Total area
8,568 SF
Lot
0.55 ac (23,958 SF)
Zoning code
AC
APN
319093018
UPID
US90-1597646
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
-
Pacific Trace II Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.51M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.26M
Owner & transaction history
M Lance · 6 yrs held
M Lance
since 2020
7 recorded transactions
Zoning & alternative use
AC · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,635,000
6.5%
$1,510,000
7%
$1,400,000
Blend value · Realmo final
$1.26M
Range $1.13M – $1.39M · ±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
$147 / 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
$24,893
Tax year 2024
Assessed value
$2,013,300
Assessed 2024
Previous assessed
$2,013,300
+0.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$529,700
Assessed improvement
$1,483,600
Land market value
$529,700
Improvement market value
$1,483,600
Total market value
$2,013,300
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
1992
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Units
14
Total area
8,568 SF
Lot
0.55 ac (23,958 SF)
Zoning code
AC
APN
319093018
UPID
US90-1597646
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
AC · Tacoma, WA
Zoning AC · permitted uses
AC · 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
1992
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
14
Lot
0.55 ac
Current owner
From public records · entity-resolved
M Lance
Individual
Mailing address
2727 LYNDON B JOHNSON FWY STE #806, DALLAS, TX 75234-7334
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 16, 2020
—
Pacific Trace LLC
—
Deed
related
$1,454,000 · Readycap Com'l
Jan 31, 2020
—
M Lance
Wmb Properties LLC
Quit Claim Deed
related
—
Dec 30, 1999
—
Wmb Properties LLC
Western Mobile Bankers
Quit Claim Deed
related
—
Nov 18, 1998
—
Milton M L
—
Grant Deed
related
$950,000 · Anchor Savings Bank
Aug 19, 1988
$25,000
Mobile Bankers Western
Unknown
Grant Deed
related
—
—
—
Pacific Trace LLC
—
Deed Of Trust
related
$1,454,000 · Readycap Com'l
—
—
Wmb Properties LLC
—
Deed Of Trust
related
$716,000 · Washington Mutual Fsb
—
—
Wmb Properties LLC
—
Deed Of Trust
related
$761,250 · Umpqua Bk
—
—
Wmb Properties LLC
—
Deed Of Trust
related
$469,000 · Homestreet 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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