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Property profile & analytics
OFF-MARKET
Estimated value
$775,000
Apartment buildings
1602 Commercial St, Steilacoom, WA 98388-1341
Individually Owned
23-yr Hold
Free & Clear
Property ID
US90-3341228
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1968
Construction
WOOD FRAME
Total area
6,184 SF
Lot
0.33 ac (14,479 SF)
Zoning code
COMMERCIAL
APN
2305000140
UPID
US90-3341228
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$775k
Owner & transaction history
Apartment Association Pierce · 23 yrs held
Apartment Association Pierce
since 2003
7 recorded transactions
Zoning & alternative use
COMMERCIAL · Steilacoom, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Steilacoom submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Steilacoom 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$125 / 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
$12,101
Tax year 2024
Assessed value
$1,406,300
Assessed 2024
Previous assessed
$1,406,300
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$779,500
Assessed improvement
$626,800
Land market value
$779,500
Improvement market value
$626,800
Total market value
$1,406,300
Applied tax rate
115.0000
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
FORCED AIR
Cooling
CENTRAL
Stories
2
Units
8
Total area
6,184 SF
Lot
0.33 ac (14,479 SF)
Zoning code
COMMERCIAL
APN
2305000140
UPID
US90-3341228
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
COMMERCIAL · Steilacoom, WA
Zoning COMMERCIAL · permitted uses
COMMERCIAL · Steilacoom, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Steilacoom. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1968
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
8
Lot
0.33 ac
Current owner
From public records · entity-resolved
Apartment Association Pierce
Individual
Free & Clear · 23 yrs held
Mailing address
PO BOX 88539, STEILACOOM, WA 98388-0539
Ownership since
2003
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
Jun 29, 2023
—
Sunray LLC
—
Deed
related
$924,000 · Us Bank NA
Mar 10, 2003
—
Apartment Association Pierce
Sunray LLC
Grant Deed
related
—
Jan 2, 2003
—
Apartment Assoc Pierce County
Steilacoom Inn Apartments LLC
Quit Claim Deed
related
—
Feb 19, 1999
—
Steilacoom Inn Apartments LLC
Mcferran,edward M
Quit Claim Deed
related
—
Jan 28, 1994
$350,000
Edward M Mcferran
Klein,richard H
Grant Deed
$275,000 · Seller
—
—
Sunray LLC
—
Deed Of Trust
related
$428,000 · Abn Amro Mortgage Group INC
—
—
Steilcoom Inn Apartment LLC
—
Deed Of Trust
related
$330,000 · Anchor Savings Bank
—
—
Edward M Mcferran
—
Deed Of Trust
related
$90,000 · Sound Banking Co
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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