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Property profile & analytics
OFF-MARKET
Estimated value
$695,000
Apartment buildings
1425 Rainier Dr, Fircrest, WA 98466-6451
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US90-3083212
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1968
Construction
WOOD FRAME
Total area
3,922 SF
Lot
0.77 ac (33,693 SF)
Zoning code
R20
APN
5551000040
UPID
US90-3083212
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$690k
Comparable Approach
Comparable
$464k
Blend (final)
Blend
$695k
Owner & transaction history
Fircrest Star LLC · 17 yrs held
Fircrest Star LLC
since 2008
6 recorded transactions
Zoning & alternative use
R20 · Fircrest, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$960,000
+18.2%
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 Fircrest submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fircrest 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%
$750,000
6.5%
$690,000
7%
$640,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$810,000
Current use
MEDICAL BUILDING
$960,000
Change: +18% · Conversion: Moderate
Blend value · Realmo final
$695k
Range $626k – $765k · ±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
$177 / 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
$27,728
Tax year 2024
Assessed value
$2,912,500
Assessed 2024
Previous assessed
$2,912,500
+0.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$1,039,000
Assessed improvement
$1,873,500
Land market value
$1,039,000
Improvement market value
$1,873,500
Total market value
$2,912,500
Applied tax rate
70.0000
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
1968
Construction
WOOD FRAME
Heating
FLOOR/WALL FURNACE
Cooling
WALL UNIT
Buildings
4
Stories
2
Units
4
Total area
3,922 SF
Lot
0.77 ac (33,693 SF)
Zoning code
R20
APN
5551000040
UPID
US90-3083212
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
R20 · Fircrest, WA
Zoning R20 · permitted uses
R20 · Fircrest, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fircrest. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$810,000
MEDICAL BUILDING
Est. value
$960,000
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
1968
Construction
WOOD FRAME
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
2
Buildings
4
Units
4
Lot
0.77 ac
Current owner
From public records · entity-resolved
Fircrest Star LLC
Entity
Mailing address
7402 91ST AVE SW, LAKEWOOD, WA 98498-3939
Ownership since
2008
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
Nov 18, 2008
$1,371,000
Fircrest Star LLC
Remy Fircrest Apartments LLC
Warranty Deed
—
Apr 14, 1999
$570,000
Apartment Investment I Wise
Horsehead Bay LP
Grant Deed
$456,000 · Columbia State Bank
—
—
John D Wise
—
Deed Of Trust
related
$103,291 · Pierce Commercial Bank
—
—
Wise Apartment Investments LLC
—
Deed Of Trust
related
$68,500 · Robert A Mcalexander
—
—
Remy Fircrest Apartments LLC
—
Deed Of Trust
related
$1,000,000 · Washington Mutual Fsb
—
—
Wise Apartment S I LLC
—
Deed Of Trust
related
$720,000 · Anchor Savings 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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