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Property profile & analytics
OFF-MARKET
Estimated value
$1,125,000
Apartment buildings
2102 70th W Ave, University Place, WA 98466-7601
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US90-1440456
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1976
Construction
WOOD FRAME
Total area
7,496 SF
Lot
5.34 ac (232,785 SF)
Zoning code
MFH
APN
6465000022
UPID
US90-1440456
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
$1.17M
CAP Approach
CAP
$1.32M
Comparable Approach
Comparable
$887k
Blend (final)
Blend
$1.13M
Owner & transaction history
Ridgedale Associates LLC · 19 yrs held
Ridgedale Associates LLC
since 2007
5 recorded transactions
Zoning & alternative use
MFH · University Place, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.8M
+18.2%
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 University Place submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs University Place 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
$1,165,000
CAP Approach
CAP Return
Estimation
6%
$1,430,000
6.5%
$1,320,000
7%
$1,225,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,550,000
Current use
MEDICAL BUILDING
$1,835,000
Change: +18% · Conversion: Moderate
Blend value · Realmo final
$1.13M
Range $1.01M – $1.24M · ±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
$150 / 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
$330,542
Tax year 2024
Assessed value
$27,974,800
Assessed 2024
Previous assessed
$27,974,800
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$10,062,000
Assessed improvement
$17,912,800
Land market value
$10,062,000
Improvement market value
$17,912,800
Total market value
$27,974,800
Applied tax rate
752.0000
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
1976
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
CENTRAL
Buildings
10
Stories
2
Units
8
Total area
7,496 SF
Lot
5.34 ac (232,785 SF)
Zoning code
MFH
APN
6465000022
UPID
US90-1440456
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
MFH · University Place, WA
Zoning MFH · permitted uses
MFH · University Place, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
University Place. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.8M
APARTMENT HOUSE (5+ UNITS) Current
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
1976
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
Yes
Stories
2
Buildings
10
Units
8
Lot
5.34 ac
Current owner
From public records · entity-resolved
Ridgedale Associates LLC
Entity
Mailing address
PO BOX 111088, TACOMA, WA 98411-1088
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 30, 2020
—
Ridgedale Associates LLC
—
Deed
related
$13,612,000 · Berkadia Commercial Mortgage LLC
Jan 17, 2007
$9,000,000
Ridgedale Associates LLC
Ridgedale LLC
Warranty Deed
$9,410,000 · Cascade Bank
Oct 14, 2003
—
Ridgedale LLC
Antilla Family LLC
Grant Deed
$3,200,000 · Washington Mutual Fsb
Dec 8, 1994
—
Sherilyn J Antilla
Elaine H Lawson Estate
Grant Deed
related
—
—
—
Antilla Family LLC
—
Deed Of Trust
related
$1,500,000 · Columbia State Bank
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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