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Property profile & analytics
OFF-MARKET
Estimated value
$4,190,000
Apartment buildings
247 Tacoma S Ave Tacoma, WA 98402-2530
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1685163
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1925
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
15,912 SF
Lot
0.18 ac (7,800 SF)
Zoning code
DR
APN
2002090080
UPID
US90-1685163
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
Current use
Occupant on record · Public records
-
Kensington Apartments Apartment Building
-
Idle Guitars (Bike/Boat/Book/etc) Store
-
George Steele Law Firm Child Welfare Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.07M
CAP Approach
CAP
$2.81M
Comparable Approach
Comparable
$4.29M
Blend (final)
Blend
$4.19M
Owner & transaction history
Tacoma Avenue Management LLC · 3 yrs held
Tacoma Avenue Management LLC
since 2023
Last sale
$5.0M
7 recorded transactions
Zoning & alternative use
DR · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$6.8M
+104.8%
Restaurant
$6.2M
+89.0%
Auto repair, garage
$5.9M
+78.3%
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
$3,980,000
ML approach
$4,065,000
CAP Approach
CAP Return
Estimation
6%
$3,035,000
6.5%
$2,805,000
7%
$2,605,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,295,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$6,750,000
Change: +105% · Conversion: Difficult
RESTAURANT
$6,230,000
Change: +89% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,875,000
Change: +78% · Conversion: Difficult
RETAIL STORES
$5,310,000
Change: +61% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,225,000
Change: +59% · Conversion: Moderate
MEDICAL BUILDING
$3,895,000
Change: +18% · Conversion: Moderate
Blend value · Realmo final
$4.19M
Range $3.77M – $4.61M · ±10% · vs last sale $5.00M (May 24 2023)
Last sale anchor
$5.00M
May 24 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
$263 / 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
$61,264
Tax year 2024
Assessed value
$5,514,800
Assessed 2024
Previous assessed
$5,514,800
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$927,600
Assessed improvement
$4,587,200
Land market value
$927,600
Improvement market value
$4,587,200
Total market value
$5,514,800
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
1925
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
STEAM
Cooling
CENTRAL
Stories
3
Units
38
Total area
15,912 SF
Lot
0.18 ac (7,800 SF)
Zoning code
DR
APN
2002090080
UPID
US90-1685163
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
DR · Tacoma, WA
Zoning DR · permitted uses
DR · 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
$3.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.8M
RESTAURANT
Est. value
$6.2M
AUTO REPAIR, GARAGE
Est. value
$5.9M
RETAIL STORES
Est. value
$5.3M
COMMERCIAL (GENERAL)
Est. value
$5.2M
MEDICAL BUILDING
Est. value
$3.9M
APARTMENT HOUSE (5+ UNITS) Current
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
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
1925
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
STEAM
Cooling
Yes
Stories
3
Units
38
Lot
0.18 ac
Current owner
From public records · entity-resolved
Tacoma Avenue Management LLC
Entity
Mailing address
15406 MERIDIAN ST E #200, MOUNT WALKER, WA 98376
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
May 24, 2023
$5,000,000
Tacoma Avenue Management LLC
Scott C Harrison
Warranty Deed
—
Jun 12, 2019
—
Harrison,scott C Trust
—
Grant Deed
related
$1,950,000 · Jp Morgan Chase Bk
Jul 31, 2013
—
Harrison,scott C Trust
Kenlaur Ents LLC
Grant Deed
related
—
Jun 28, 2013
$3,478,500
Scott C Harrison
Kenlaur Enterprises LLC
Warranty Deed
$2,180,000 · Jpmorgan Chase Bank NA
Apr 28, 2006
$2,025,000
Kenlaur Ents LLC
Tacoma Stadium LLC
Warranty Deed
$2,300,000 · Industrial-alliance Pac Life I
Apr 27, 2005
—
Tacoma Stadium LLC
Jsf 2000 LLC
Warranty Deed
—
Oct 24, 2003
$1,443,975
Koh,tr
—
Grant Deed
related
—
Feb 28, 1994
$725,000
Gentra Capital Corp
Granda,villa
Trustees Deed
related
—
Dec 4, 1989
$600,000
Brant Apartments
Unknown
Grant Deed
$1,020,000 · Pacific First Fsb
—
—
Kenlaur Ents LLC
—
Deed Of Trust
related
$2,205,275 · Industrial Alliance Pacific In
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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