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Property profile & analytics
OFF-MARKET
Estimated value
$1,470,000
Apartment buildings
1622 7th Ave Spokane, WA 99204-3463
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-3335776
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1972
Construction
STEEL FRAME
Total area
5,676 SF
Lot
0.49 ac (21,300 SF)
APN
25244.3007
UPID
US90-3335776
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
$1.42M
Blend (final)
Blend
$1.47M
Owner & transaction history
Vstone6 LLC · 6 yrs held
Vstone6 LLC
since 2019
7 recorded transactions
Zoning & alternative use
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 Spokane submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spokane 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%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.47M
Range $1.32M – $1.62M · ±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
$259 / 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
$24,451
Tax year 2023
Assessed value
$2,506,400
Assessed 2024
Previous assessed
$1,796,600
+39.5% YoY
Effective rate
0.98%
On assessed value
Assessed land
$170,400
Assessed improvement
$2,336,000
Land market value
$170,400
Improvement market value
$2,336,000
Total market value
$2,506,400
Applied tax rate
10.0000
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
1972
Construction
STEEL FRAME
Heating
NONE
Stories
2
Units
21
Bathrooms
21
Total area
5,676 SF
Lot
0.49 ac (21,300 SF)
APN
25244.3007
UPID
US90-3335776
Jurisdiction
SPOKANE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1972
Construction
STEEL FRAME
Heating
NONE
Stories
2
Units
21
Bathrooms
21
Lot
0.49 ac
Current owner
From public records · entity-resolved
Vstone6 LLC
Entity
Mailing address
18011 94TH AVE NE, BOTHELL, WA 98011-3314
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 13, 2019
$1,900,000
Vstone6 LLC
Todd M Quartemont
Warranty Deed
$1,520,000 · Numerica Cu
Aug 31, 2004
$750,000
Todd M Quartemont
Farber,michael
Warranty Deed
$250,000 · Banner Bank
Feb 25, 2004
—
Michael Farber
1622 West LLC
Quit Claim Deed
related
—
Mar 21, 2003
—
1622 West LLC
Farber,michael & Sheryl L
Quit Claim Deed
related
—
Jan 21, 2003
$700,000
Micharel Farber
Orcutt,james A & Jodie
Grant Deed
$525,000 · Banner Bank
Sep 21, 2001
$390,000
James A Orcutt
Coller Trust
Grant Deed
$250,000 · Sterling Savings Bank
—
—
Todd M Quartemont
—
Deed Of Trust
related
$163,000 · American West Bank
—
—
Todd M Quartemont
—
Deed Of Trust
related
$950,000 · Riverbank
—
—
Todd M Quartemont
—
Deed Of Trust
related
$1,200,000 · Riverbank
—
—
Todd M Quartemont
—
Deed Of Trust
related
$585,000 · Spokane Teachers Cu
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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