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Property profile & analytics
OFF-MARKET
Estimated value
$3,190,000
Apartment buildings
20002 Mtn E Hwy, Spanaway, WA 98387-8597
Individually Owned
7-yr Hold
Free & Clear
Property ID
US90-2691027
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
2018
Construction
WOOD FRAME
Total area
22,140 SF
Lot
11.78 ac (513,137 SF)
Zoning code
MUD
APN
318044111
UPID
US90-2691027
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
$4.12M
Comparable Approach
Comparable
$3.93M
Blend (final)
Blend
$3.19M
Owner & transaction history
Pierce Cnty · 7 yrs held
Pierce Cnty
since 2019
4 recorded transactions
Zoning & alternative use
MUD · Spanaway, 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 Spanaway submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spanaway 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%
$4,465,000
6.5%
$4,120,000
7%
$3,825,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$5,225,000
Current use
Blend value · Realmo final
$3.19M
Range $2.87M – $3.51M · ±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
$144 / 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
$41,281
Tax year 2024
Assessed value
$37,863,000
Assessed 2024
Previous assessed
$37,863,000
+0.0% YoY
Effective rate
0.11%
On assessed value
Assessed land
$14,937,800
Assessed improvement
$22,925,200
Land market value
$14,937,800
Improvement market value
$22,925,200
Total market value
$37,863,000
Applied tax rate
591.0000
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 (100+ UNITS)
Status
Off-Market
Year built
2018
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
10
Stories
3
Units
24
Total area
22,140 SF
Lot
11.78 ac (513,137 SF)
Zoning code
MUD
APN
318044111
UPID
US90-2691027
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
MUD · Spanaway, WA
Zoning MUD · permitted uses
MUD · Spanaway, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Spanaway. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$5.2M
APARTMENT HOUSE (5+ UNITS) Current
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
2018
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
10
Units
24
Lot
11.78 ac
Current owner
From public records · entity-resolved
Pierce Cnty
Individual
Free & Clear · 7 yrs held
Mailing address
369 SAN MIGUEL DR STE #135, NEWPORT BEACH, CA 92660-7813
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 19, 2019
—
Pierce Cnty
Gateway By Vintage
Warranty Deed
—
Dec 13, 2017
$3,000,000
Gateway By Vintage LP
Simon Of Johnson LLC
Trustees Deed
$30,830,000 · Citibank
Apr 8, 2016
$175,000
Firs Management LLC
Foundation Bk
Quit Claim Deed
related
—
Jul 2, 2012
—
Foundation Bk
Michael J Goldfarb Ents LLC
Quit Claim Deed
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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