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Property profile & analytics
OFF-MARKET
Estimated value
$1,385,000
Apartment buildings
1502 Orch St, Tacoma, WA 98465-2431
Entity Owned
6-yr Hold
Free & Clear
Property ID
US90-2541217
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2018
Construction
WOOD FRAME
Total area
8,444 SF
Lot
2.49 ac (108,464 SF)
Zoning code
R2
APN
4475000390
UPID
US90-2541217
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
-
SemaConnect Charging Station Electric Vehicle Charging Station
-
1500 Orchard Real Estate Rental Agency Apartment Complex
-
Ayanna Massey Midwife
-
Blink Charging Station Electric Vehicle Charging Station
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.49M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.39M
Owner & transaction history
1500 Orchard LLC · 6 yrs held
1500 Orchard LLC
since 2019
7 recorded transactions
Zoning & alternative use
R2 · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.1M
+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 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%
$1,610,000
6.5%
$1,485,000
7%
$1,380,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,750,000
Current use
MEDICAL BUILDING
$2,065,000
Change: +18% · Conversion: Moderate
Blend value · Realmo final
$1.39M
Range $1.25M – $1.52M · ±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
$164 / 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
$397,830
Tax year 2024
Assessed value
$35,817,200
Assessed 2024
Previous assessed
$35,817,200
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$2,388,700
Assessed improvement
$33,428,500
Land market value
$2,388,700
Improvement market value
$33,428,500
Total market value
$35,817,200
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 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
2018
Construction
WOOD FRAME
Heating
ELECTRIC
Buildings
6
Stories
3
Units
12
Total area
8,444 SF
Lot
2.49 ac (108,464 SF)
Zoning code
R2
APN
4475000390
UPID
US90-2541217
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
R2 · Tacoma, WA
Zoning R2 · permitted uses
R2 · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$2.1M
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
2018
Construction
WOOD FRAME
Heating
ELECTRIC
Stories
3
Buildings
6
Units
12
Lot
2.49 ac
Current owner
From public records · entity-resolved
1500 Orchard LLC
Entity
Free & Clear · 6 yrs held
Mailing address
PO BOX 111088, TACOMA, WA 98411-1088
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 19, 2019
—
1500 Orchard LLC
Mark J Carpenter
Quit Claim Deed
related
—
Sep 29, 2017
—
Orchard Street Acquisition LLC
—
Grant Deed
related
$16,950,000 · Umpqua Bk
Mar 31, 2016
$2,420,000
Orchard Street Acquisition LLC
Orchard Street Investors LLC
Warranty Deed
—
Mar 11, 2016
—
Pearl Plaza Investment LLC
Wise,john D
Quit Claim Deed
related
—
Dec 29, 2015
—
John D Wise
Orchard Street Investors LLC
Quit Claim Deed
related
—
Nov 10, 2014
$700,000
Orchard Street Investors LLC
Tahoma Unitarian Universalist
Grant Deed
$700,000 · Jeffrey W & Nancy J Edwards
Jan 27, 2004
—
Washington State
Unitarian Association Of Tacom
Grant Deed
related
—
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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