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Property profile & analytics
OFF-MARKET
Estimated value
$740,000
Apartment buildings
2076 56th St, Tacoma, WA 98404-4428
Individually Owned
2-yr Hold
Property ID
US90-0070453
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1986
Construction
FRAME
Total area
4,076 SF
Lot
0.24 ac (10,577 SF)
Zoning code
R4L
APN
5003440080
UPID
US90-0070453
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
$795k
CAP Approach
CAP
$720k
Comparable Approach
Comparable
$679k
Blend (final)
Blend
$740k
Owner & transaction history
Suhas Jayappa Manangi · 2 yrs held
Suhas Jayappa Manangi
since 2023
Last sale
$965,000
7 recorded transactions
Zoning & alternative use
R4L · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.2M
+65.4%
Warehouse, storage
$1.2M
+64.1%
Medical building
$995,000
+34.0%
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 Tacoma submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tacoma 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
$770,000
ML approach
$795,000
CAP Approach
CAP Return
Estimation
6%
$780,000
6.5%
$720,000
7%
$665,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$745,000
Current use
RETAIL STORES
$1,230,000
Change: +65% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,220,000
Change: +64% · Conversion: Difficult
MEDICAL BUILDING
$995,000
Change: +34% · Conversion: Moderate
Blend value · Realmo final
$740k
Range $666k – $814k · ±10% · vs last sale $965k (Oct 20 2023)
Last sale anchor
$965k
Oct 20 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
$182 / 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
$8,958
Tax year 2024
Assessed value
$805,500
Assessed 2024
Previous assessed
$805,500
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$190,900
Assessed improvement
$614,600
Land market value
$190,900
Improvement market value
$614,600
Total market value
$805,500
Applied tax rate
5.0000
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
1986
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Units
4
Bathrooms
8
Total area
4,076 SF
Lot
0.24 ac (10,577 SF)
Zoning code
R4L
APN
5003440080
UPID
US90-0070453
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
R4L · Tacoma, WA
Zoning R4L · permitted uses
R4L · Tacoma, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tacoma. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$745,000
RETAIL STORES
Est. value
$1.2M
WAREHOUSE, STORAGE
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$995,000
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
1986
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
4
Bathrooms
8
Lot
0.24 ac
Current owner
From public records · entity-resolved
Suhas Jayappa Manangi
Individual
Mailing address
11582 179TH CT NE, REDMOND, WA 98052-7428
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 20, 2023
$965,000
Suhas Jayappa Manangi
Bhu Song Minn
Warranty Deed
$723,750 · Tomo Mortgage LLC
Aug 30, 2019
$725,000
Bhu Song Minn
Amy Greger
Warranty Deed
$275,000 · Guild Mortgage Co
Feb 1, 2017
—
Blackjack Corp Sharing Plan Trust
—
Deed
related
$204,000 · First Western Fsb
Oct 28, 2016
$408,000
Blackjack Corp Profit Sharing Trust
Xen,elo
Warranty Deed
—
May 7, 2015
$358,242
Elo
Coda Investments LLC
Warranty Deed
$267,000 · Stearns Lndg
Oct 7, 2011
—
Coda Investments LLC
Wagner,dana
Quit Claim Deed
related
—
Sep 12, 2011
$245,000
Dana K Wagner
Ferguson Adesoye
Warranty Deed
$183,750 · Legacy Group Lending INC
Sep 12, 2011
—
Dana A Wagner
Wagner,karin
Quit Claim Deed
related
—
Nov 28, 2005
$415,000
Ferguson Adesoye
2004 Eastside INC
Warranty Deed
$332,000 · Ctx Mortgage Co
—
—
Blackjack Corp Sharing Plan Trust
—
Deed Of Trust
related
$204,000 · First Western Fsb
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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