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Property profile & analytics
OFF-MARKET
Estimated value
$1,155,000
Apartment buildings
1601 Norpoint NE Way Tacoma, WA 98422-2545
Individually Owned
Absentee Owner
Property ID
US90-1046239
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1984
Construction
FRAME
Total area
6,720 SF
Lot
0.21 ac (9,110 SF)
Zoning code
R4L
APN
321238018
UPID
US90-1046239
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
$1.19M
Comparable Approach
Comparable
$931k
Blend (final)
Blend
$1.16M
Owner & transaction history
Jeuel Aherz
Jeuel Aherz
since 2026
Last sale
$1.3M
7 recorded transactions
Zoning & alternative use
R4L · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.6M
+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%
$1,280,000
6.5%
$1,185,000
7%
$1,100,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,390,000
Current use
MEDICAL BUILDING
$1,645,000
Change: +18% · Conversion: Moderate
Blend value · Realmo final
$1.16M
Range $1.04M – $1.27M · ±10% · vs last sale $1.25M (Jan 13 2026)
Last sale anchor
$1.25M
Jan 13 2026
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
$172 / 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
$12,226
Tax year 2024
Assessed value
$1,099,700
Assessed 2024
Previous assessed
$1,099,700
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$235,500
Assessed improvement
$864,200
Land market value
$235,500
Improvement market value
$864,200
Total market value
$1,099,700
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
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
1984
Construction
FRAME
Heating
BASEBOARD
Stories
2
Units
4
Bathrooms
7
Total area
6,720 SF
Lot
0.21 ac (9,110 SF)
Zoning code
R4L
APN
321238018
UPID
US90-1046239
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
R4L · Tacoma, WA
Zoning R4L · permitted uses
R4L · 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
$1.4M
MEDICAL BUILDING
Est. value
$1.6M
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
1984
Construction
FRAME
Heating
BASEBOARD
Stories
2
Units
4
Bathrooms
7
Lot
0.21 ac
Current owner
From public records · entity-resolved
Jeuel Aherz
Individual
Mailing address
31114 11TH PL SW, FEDERAL WAY, WA 98023-4532
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 13, 2026
—
Jeuel Aherz
Carley Asherz
Quitclaim Deed
related
—
Jan 13, 2026
$1,250,000
Milton Asherz
Derick M Ferrell
Warranty Deed
$1,126,372 · Nexa Mortgage LLC
May 25, 2017
—
Derick M Ferrell
—
Deed
related
$320,800 · Alaska USA Mortgage Co LLC
Feb 12, 2003
—
Tacoma City (wa)
Garcia,myong C
Grant Deed
related
—
Jan 24, 2003
$380,000
Derick M Ferrell
Garcia,myong C
Grant Deed
$304,000 · Sib Mortgage Corp
May 18, 1989
$162,500
David K Dr Naibert
Unknown
Grant Deed
—
—
—
Labriano Garcia
—
Deed Of Trust
related
$124,000 · Home Savings Of America
—
—
Derick M Ferrell
—
Deed Of Trust
related
$395,800 · Greenpoint Mortgage Funding
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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