Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$4,575,000
Apartment buildings
1509 9th St Port Townsend, WA 98368-2353
Entity Owned
Absentee Owner
Free & Clear
Property ID
US90-2010922
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Total area
14,800 SF
Lot
0.92 ac (40,075 SF)
Zoning code
R-IV(MF)
APN
948320601
UPID
US90-2010922
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
$4.61M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.58M
Owner & transaction history
Mack Gomez Holdings LLC
Mack Gomez Holdings LLC
since 2025
Last sale
$4.5M
5 recorded transactions
Zoning & alternative use
R-IV(MF) · Port Townsend, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
This district accommodates larger scale multifamily structures (e.g., 10 to 24 dwellings per structure) at a density of not less than 15 units per 40,000 square feet of land area, or more than 48 units per 40,000 square feet of land area
Zone name
High Density Multifamily
General category
RESIDENTIAL
Zone area
27.00 ac
Source
Realmo
Top alternative use upside
Medical building
$3.5M
+290.1%
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 Port Townsend submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Port Townsend 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
$4,680,000
ML approach
$4,610,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$3,515,000
Change: +290% · Conversion: Moderate
Blend value · Realmo final
$4.58M
Range $4.12M – $5.03M · ±10% · vs last sale $4.50M (Mar 31 2021)
Last sale anchor
$4.50M
Mar 31 2021
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
$309 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$37,546
Tax year 2023
Assessed value
$4,189,156
Assessed 2023
Previous assessed
$4,003,987
+4.6% YoY
Effective rate
0.90%
On assessed value
Assessed land
$615,624
Assessed improvement
$3,573,532
Land market value
$615,624
Improvement market value
$3,573,532
Total market value
$4,189,156
Applied tax rate
110.0000
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
Heating
BASEBOARD
Total area
14,800 SF
Lot
0.92 ac (40,075 SF)
Zoning code
R-IV(MF)
APN
948320601
UPID
US90-2010922
Jurisdiction
JEFFERSON
Zoning & alternative use
R-IV(MF) · Port Townsend, WAZoning R-IV(MF) · permitted uses
R-IV(MF) · Port Townsend, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
This district accommodates larger scale multifamily structures (e.g., 10 to 24 dwellings per structure) at a density of not less than 15 units per 40,000 square feet of land area, or more than 48 units per 40,000 square feet of land area
Zone name
High Density Multifamily
General category
RESIDENTIAL
Zone area
27.00 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$3.5M
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
Heating
BASEBOARD
Lot
0.92 ac
Current owner
From public records · entity-resolved
Mack Gomez Holdings LLC
Entity
Free & Clear · 0 yrs held
Mailing address
6527 SEWARD PARK AVE S, SEATTLE, WA 98118-3447
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 26, 2025
—
Mack Gomez Holdings LLC
Edward C Gomez
Quitclaim Deed
related
—
Mar 31, 2021
$4,500,000
Edward C Gomez
1509 9th St LLC
Warranty Deed
—
Sep 28, 2020
—
1509 9th St LLC
—
Deed
related
$2,654,584 · Columbia State Bank
Feb 28, 2020
$4,451,687
1509 9th St LLC
Puget Sound Apartments LLC
Warranty Deed
$2,900,000 · Tryg & Barbara Fortun
Jan 11, 2016
—
Puget Sound Apartments LLC
Rigby,m Douglas & Karrey L
Warranty Deed
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1509 9th St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
