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Property profile & analytics
OFF-MARKET
Estimated value
$830,000
Apartment buildings
2428 70th W Ave, Gig Harbor, WA 98335
Entity Owned
22-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-1156503
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1983
Construction
WOOD FRAME
Total area
5,657 SF
Lot
3.48 ac (151,589 SF)
Zoning code
MFH
APN
6465000082
UPID
US90-1156503
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
$725k
CAP Approach
CAP
$1.06M
Comparable Approach
Comparable
$715k
Blend (final)
Blend
$830k
Owner & transaction history
Nisqually Gc LLC · 22 yrs held
Nisqually Gc LLC
since 2004
7 recorded transactions
Zoning & alternative use
MFH · Gig Harbor, 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 Gig Harbor submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gig Harbor 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
$725,000
CAP Approach
CAP Return
Estimation
6%
$1,140,000
6.5%
$1,055,000
7%
$980,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,335,000
Current use
Blend value · Realmo final
$830k
Range $747k – $913k · ±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
$147 / 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
$103,931
Tax year 2024
Assessed value
$8,468,700
Assessed 2024
Previous assessed
$8,468,700
+0.0% YoY
Effective rate
1.23%
On assessed value
Assessed land
$6,018,500
Assessed improvement
$2,450,200
Land market value
$6,018,500
Improvement market value
$2,450,200
Total market value
$8,468,700
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 (5+ UNITS)
Status
Off-Market
Year built
1983
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
CENTRAL
Buildings
7
Stories
2
Units
6
Total area
5,657 SF
Lot
3.48 ac (151,589 SF)
Zoning code
MFH
APN
6465000082
UPID
US90-1156503
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
MFH · Gig Harbor, WA
Zoning MFH · permitted uses
MFH · Gig Harbor, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gig Harbor. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.3M
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
1983
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
Yes
Stories
2
Buildings
7
Units
6
Lot
3.48 ac
Current owner
From public records · entity-resolved
Nisqually Gc LLC
Entity
Mailing address
2905 JAHN AVE NW STE #7, GIG HARBOR, WA 98335-7918
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 24, 2022
—
Howe Investments II LLC
—
Deed
related
$5,460,000 · Jpmorgan Chase Bank NA
Apr 8, 2019
—
Howe Investments II LLC
—
Deed
related
$4,515,000 · Jpmorgan Chase Bank NA
Mar 26, 2004
—
Nisqually Gc LLC
Howe Investment
Warranty Deed
related
—
Mar 15, 2004
$1,100,000
Nisqually Gc LLC
Zimmermann,peter M
Warranty Deed
$2,300,000 · Washington Mutual Fsb
Dec 30, 2003
—
Peter M Zimmerman
Cascades West 2 LP
Quit Claim Deed
related
—
Feb 4, 1991
$1,481,162
West Cascades III
Unknown
Grant Deed
—
—
—
Cascades West Phase 2 LP
—
Deed Of Trust
related
$773,500 · Rainier Pacific 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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