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Property profile & analytics
OFF-MARKET
Estimated value
$1,680,000
Apartment buildings
1640 Washington St Sumner, WA 98390-2006
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1585072
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1967
Construction
WOOD FRAME
Total area
6,634 SF
Lot
0.45 ac (19,602 SF)
Zoning code
MDR
APN
420244195
UPID
US90-1585072
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
$1.68M
CAP Approach
CAP
$1.24M
Comparable Approach
Comparable
$1.55M
Blend (final)
Blend
$1.68M
Owner & transaction history
Meridien Ventures LLC · 4 yrs held
Meridien Ventures LLC
since 2021
Last sale
$1.7M
6 recorded transactions
Zoning & alternative use
MDR · Sumner, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.4M
+23.6%
Retail stores
$2.0M
+3.0%
Warehouse, storage
$2.0M
+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
$1,665,000
ML approach
$1,680,000
CAP Approach
CAP Return
Estimation
6%
$1,340,000
6.5%
$1,235,000
7%
$1,145,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,970,000
Current use
AUTO REPAIR, GARAGE
$2,440,000
Change: +24% · Conversion: Difficult
RETAIL STORES
$2,030,000
Change: +3% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,980,000
Change: +0% · Conversion: Difficult
Blend value · Realmo final
$1.68M
Range $1.51M – $1.85M · ±10% · vs last sale $1.68M (Aug 12 2021)
Last sale anchor
$1.68M
Aug 12 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
$253 / 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
$11,168
Tax year 2024
Assessed value
$1,080,500
Assessed 2024
Previous assessed
$1,080,500
+0.0% YoY
Effective rate
1.03%
On assessed value
Assessed land
$539,200
Assessed improvement
$541,300
Land market value
$539,200
Improvement market value
$541,300
Total market value
$1,080,500
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
1967
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
CENTRAL
Stories
2
Units
8
Total area
6,634 SF
Lot
0.45 ac (19,602 SF)
Zoning code
MDR
APN
420244195
UPID
US90-1585072
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
$2.0M
AUTO REPAIR, GARAGE
Est. value
$2.4M
RETAIL STORES
Est. value
$2.0M
WAREHOUSE, STORAGE
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
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
1967
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
Yes
Stories
2
Units
8
Lot
0.45 ac
Current owner
From public records · entity-resolved
Meridien Ventures LLC
Entity
Mailing address
2503 NE 147TH ST, SHORELINE, WA 98155-7428
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 12, 2021
$1,684,200
Meridien Ventures LLC
Katherine Hammad
Warranty Deed
$1,179,500 · Pacific Crest Savings Bank
Aug 11, 2021
—
Katherine Hammad
Spartan Arms Apartments LLC
Quit Claim Deed
related
—
Jul 11, 2011
—
Spartan Arms Apartments LLC
Hammad,katherine A
Quit Claim Deed
related
—
Aug 14, 2003
—
Katherine A Hammad
Hynek,terry
Quit Claim Deed
related
$187,605 · West Coast Bank
—
—
Joan G Hynek
—
Deed Of Trust
related
$140,000 · West Coast Bank
—
—
Randall Hynek
—
Deed Of Trust
related
$139,000 · Joan M Hynek
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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