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Property profile & analytics
OFF-MARKET
Estimated value
$8,865,000
High-rise multifamily apartments
15 St Tacoma, WA 98403-3142
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-1451413
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
18,987 SF
Lot
0.68 ac (29,784 SF)
Zoning code
R5
APN
2030090010
UPID
US90-1451413
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
$8.86M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.59M
Blend (final)
Blend
$8.87M
Owner & transaction history
Lincoln Partners LLC · 5 yrs held
Lincoln Partners LLC
since 2020
Last sale
$11.9M
7 recorded transactions
Zoning & alternative use
R5 · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$8.1M
+89.9%
Restaurant
$7.4M
+75.3%
Auto repair, garage
$7.0M
+65.4%
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 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
$11,620,000
ML approach
$8,860,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$8,050,000
Change: +90% · Conversion: Difficult
RESTAURANT
$7,435,000
Change: +75% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,015,000
Change: +65% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,855,000
Change: +38% · Conversion: Moderate
RETAIL STORES
$5,735,000
Change: +35% · Conversion: Difficult
WAREHOUSE, STORAGE
$5,690,000
Change: +34% · Conversion: Difficult
Blend value · Realmo final
$8.87M
Range $7.98M – $9.75M · ±10% · vs last sale $11.89M (Nov 2 2020)
Last sale anchor
$11.89M
Nov 2 2020
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
$467 / 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
$99,519
Tax year 2024
Assessed value
$8,959,000
Assessed 2024
Previous assessed
$8,959,000
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$2,913,100
Assessed improvement
$6,045,900
Land market value
$2,913,100
Improvement market value
$6,045,900
Total market value
$8,959,000
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
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
STEAM
Buildings
2
Stories
3
Units
25
Total area
18,987 SF
Lot
0.68 ac (29,784 SF)
Zoning code
R5
APN
2030090010
UPID
US90-1451413
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
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.1M
RESTAURANT
Est. value
$7.4M
AUTO REPAIR, GARAGE
Est. value
$7.0M
COMMERCIAL (GENERAL)
Est. value
$5.9M
RETAIL STORES
Est. value
$5.7M
WAREHOUSE, STORAGE
Est. value
$5.7M
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
WAREHOUSE, STORAGE
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
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
STEAM
Stories
3
Buildings
2
Units
25
Lot
0.68 ac
Current owner
From public records · entity-resolved
Lincoln Partners LLC
Entity
Mailing address
PO BOX 4508, FEDERAL WAY, WA 98063-4508
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
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 12, 2022
—
Petramalo Investments LLC
—
Deed
related
$1,000 · Jpmorgan Chase Bank NA
Nov 2, 2020
$11,885,875
Lincoln Partners LLC
Bayside Gardens Apartment Ventures
Warranty Deed
$8,000,000 · Washington Trust Bank
Jul 10, 2018
—
Bayside Gardens Apartment Ventures
Bayside Gardens Apartment Ventures
Intrafamily Transfer
related
$5,000,000 · Jpmorgan Chase Bank NA
May 24, 2012
—
Bayside Garden Apartment Ventu
Dennis Faker
Quit Claim Deed
related
$3,480,750 · Jp Morgan Chase Bk
Dec 29, 2004
$180,000
Dennis Faker
Bayside Gardens Apartment Vent
Warranty Deed
—
Apr 16, 2004
$150,000
Michael Kagan
Bayside Gardens Apartment Vent
Warranty Deed
—
Apr 16, 2004
$220,000
Dennis Faker
Bayside Gardens Apts Venture
Grant Deed
—
Apr 16, 2004
$161,236
Michael Kagan
Bayside Gardens Apts Venture
Grant Deed
—
Apr 30, 1989
$1,431,540
Bayside Gardens Apartment Ventur
Unknown
Grant Deed
—
—
—
Bayside Gardens Apts Ventures
—
Deed Of Trust
related
$710,000 · Everett Mutual Savings Bank
—
—
Gardens Apartments Ven M Bayside
—
Deed Of Trust
related
$1,600,000 · Everett Mutual 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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