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Property profile & analytics
OFF-MARKET
Estimated value
$6,550,000
Apartment buildings
12850 Lincoln SW Ave Lakewood, WA 98499-3218
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1327354
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1964
Construction
WOOD FRAME
Total area
9,030 SF
Lot
2.73 ac (118,919 SF)
Zoning code
MF1
APN
219114048
UPID
US90-1327354
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
-
Liberty Apartments Apartment Building
-
Garden Park Apartments Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.51M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.90M
Blend (final)
Blend
$6.55M
Owner & transaction history
Sage Lakewood 2 LLC · 3 yrs held
Sage Lakewood 2 LLC
since 2023
Last sale
$7.0M
7 recorded transactions
Zoning & alternative use
MF1 · Lakewood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.2M
+18.3%
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
$6,340,000
ML approach
$6,510,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$4,160,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$6.55M
Range $5.90M – $7.21M · ±10% · vs last sale $7.00M (Jan 4 2023)
Last sale anchor
$7.00M
Jan 4 2023
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
$725 / 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
$72,650
Tax year 2024
Assessed value
$6,676,100
Assessed 2024
Previous assessed
$6,676,100
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$3,871,600
Assessed improvement
$2,804,500
Land market value
$3,871,600
Improvement market value
$2,804,500
Total market value
$6,676,100
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
BASEBOARD
Cooling
CENTRAL
Buildings
5
Stories
2
Units
10
Total area
9,030 SF
Lot
2.73 ac (118,919 SF)
Zoning code
MF1
APN
219114048
UPID
US90-1327354
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
MF1 · Lakewood, WA
Zoning MF1 · permitted uses
MF1 · 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
RESTAURANT
Est. value
$4.2M
RESTAURANT
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
BASEBOARD
Cooling
Yes
Stories
2
Buildings
5
Units
10
Lot
2.73 ac
Current owner
From public records · entity-resolved
Sage Lakewood 2 LLC
Entity
Mailing address
9505 19TH AVE SE STE #118, EVERETT, WA 98208-3843
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 24, 2023
—
Sage Lakewood 2 LLC
Lakewood Garden Park Apartments LLC
Re-recorded Document
related
$578,875 · First Fed Bank
Jan 4, 2023
$7,000,000
Sage Lakewood 2 LLC
Lakewood Garden Park Apartments LLC
Special Warranty Deed
$5,280,000 · First Fed Bank
Sep 1, 2017
—
Lakewood Garden Park Apartment
—
Deed
related
$2,800,000 · Sabal Capital II LLC Sabal Capital II LLC
Jun 4, 2007
$1,775,000
Yuan Zhang
Kallirai,inderjit S
Warranty Deed
—
Jun 4, 2007
—
Lakewood Garden Park Apartment
Zhang,yuan
Warranty Deed
$1,779,000 · Union Bank Of California
Feb 7, 2003
$1,497,400
Inderjit S Kallirai
Swope,gordon
Grant Deed
$1,250,000 · Gordon Swope
Apr 27, 1992
$901,000
Gordon Swope JR.
Unknown
Grant Deed
—
—
—
Inderjit S Kallirai
—
Deed Of Trust
related
$900,000 · Imperial Capital Bank
—
—
Gordon Swope
—
Deed Of Trust
related
$365,000 · Individual
—
—
Lakewood Garden Park Apartment
—
Deed Of Trust
related
$1,765,000 · Heritage Bank
—
—
Lakewood Garden Park Apartment
—
Deed Of Trust
related
$2,800,000 · Sabal Capital II LLC Sabal Capital II LLC
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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