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Property profile & analytics
OFF-MARKET
Estimated value
$1,085,000
Apartment buildings
3300 21st SW Ave, Tumwater, WA 98512-5668
Entity Owned
26-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-0621715
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1989
Construction
WOOD FRAME
Total area
5,338 SF
Lot
17.87 ac (778,417 SF)
APN
1282-13-10100
UPID
US90-0621715
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.40M
CAP Approach
CAP
$1.03M
Comparable Approach
Comparable
$830k
Blend (final)
Blend
$1.09M
Owner & transaction history
Black Lake Apartments LLC · 26 yrs held
Black Lake Apartments LLC
since 1999
6 recorded transactions
Zoning & alternative use
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 Tumwater submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tumwater 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
$1,400,000
CAP Approach
CAP Return
Estimation
6%
$1,115,000
6.5%
$1,030,000
7%
$955,000
Blend value · Realmo final
$1.09M
Range $977k – $1.19M · ±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
$203 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$667,211
Tax year 2023
Assessed value
$67,002,900
Assessed 2022
Previous assessed
$37,979,500
+76.4% YoY
Effective rate
1.00%
On assessed value
Assessed land
$7,517,300
Assessed improvement
$59,485,600
Land market value
$7,517,300
Improvement market value
$59,485,600
Total market value
$67,002,900
Applied tax rate
110.0000
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
1989
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
WALL UNIT
Stories
2
Bathrooms
12
Total area
5,338 SF
Lot
17.87 ac (778,417 SF)
APN
1282-13-10100
UPID
US90-0621715
Jurisdiction
THURSTON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1989
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
Yes
Stories
2
Bathrooms
12
Lot
17.87 ac
Current owner
From public records · entity-resolved
Black Lake Apartments LLC
Entity
Mailing address
1302 PUYALLUP ST STE A, SUMNER, WA 98390-1604
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1999
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 1, 2018
—
Black Lake Apartments LLC
—
Trustees Deed
related
$34,219,000 · Northmarq Cap Fin
Nov 22, 2002
—
Black Lake Apartments LLC
—
Deed Of Trust
related
$3,282,000 · Greystone Servicing Corp
Dec 8, 1999
—
Black Lake Apartments LLC
Pacific Trustee Ltd
Grant Deed
related
—
Apr 28, 1988
$360,000
Investco Financial Corp
Unknown
Grant Deed
related
—
—
—
Black Lake Apartments LLC
—
Deed Of Trust
related
$24,000,000 · Cbre Melody & Co
—
—
Investco Financial Corp
—
Deed Of Trust
related
$5,500,000 · Seattle-first National 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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