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Property profile & analytics
OFF-MARKET
Estimated value
$960,000
Apartment buildings
1612 Wright Ave Sumner, WA 98390-2178
Entity Owned
3-yr Hold
Property ID
US90-1166368
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1989
Construction
FRAME
Total area
4,564 SF
Lot
0.28 ac (12,294 SF)
Zoning code
MDR
APN
9670000100
UPID
US90-1166368
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
$955k
CAP Approach
CAP
$850k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$960k
Owner & transaction history
Gsx2 LLC · 3 yrs held
Gsx2 LLC
since 2023
Last sale
$1.1M
4 recorded transactions
Zoning & alternative use
MDR · Sumner, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.4M
+3.0%
Warehouse, storage
$1.4M
+0.4%
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 Sumner submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sumner 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
$885,000
ML approach
$955,000
CAP Approach
CAP Return
Estimation
6%
$920,000
6.5%
$850,000
7%
$790,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,355,000
Current use
RETAIL STORES
$1,400,000
Change: +3% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,360,000
Change: +0% · Conversion: Difficult
MEDICAL BUILDING
$1,255,000
Change: -8% · Conversion: Moderate
Blend value · Realmo final
$960k
Range $864k – $1.06M · ±10% · vs last sale $1.05M (Jan 31 2023)
Last sale anchor
$1.05M
Jan 31 2023
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
$210 / 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
$10,054
Tax year 2024
Assessed value
$972,600
Assessed 2024
Previous assessed
$972,600
+0.0% YoY
Effective rate
1.03%
On assessed value
Assessed land
$239,600
Assessed improvement
$733,000
Land market value
$239,600
Improvement market value
$733,000
Total market value
$972,600
Applied tax rate
117.0000
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
1989
Construction
FRAME
Heating
BASEBOARD
Stories
2
Units
4
Bathrooms
7
Total area
4,564 SF
Lot
0.28 ac (12,294 SF)
Zoning code
MDR
APN
9670000100
UPID
US90-1166368
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
MDR · Sumner, WA
Zoning MDR · permitted uses
MDR · Sumner, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sumner. 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
RETAIL STORES
Est. value
$1.4M
WAREHOUSE, STORAGE
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
WAREHOUSE, STORAGE
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
1989
Construction
FRAME
Heating
BASEBOARD
Stories
2
Units
4
Bathrooms
7
Lot
0.28 ac
Current owner
From public records · entity-resolved
Gsx2 LLC
Entity
Mailing address
17809 119TH ST CT E, BONNEY LAKE, WA 98391-8166
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 31, 2023
$1,054,000
Gsx2 LLC
Andres Omelanchuk
Warranty Deed
—
Dec 8, 1993
$229,000
Andres Omelanchuk
Shell,dale W
Grant Deed
$160,000 · Alliance Bancorp
Aug 27, 1990
$199,000
Dale W Snell
Unknown
Grant Deed
—
—
—
Andres Omelanchuk
—
Deed Of Trust
related
$165,000 · Countrywide Home Loans INC
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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