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Property profile & analytics
OFF-MARKET
Estimated value
$700,000
Apartment buildings
3321 Asotin St, Tacoma, WA 98418-2720
Entity Owned
3-yr Hold
Property ID
US90-3048850
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1979
Construction
FRAME
Total area
3,176 SF
Lot
0.14 ac (6,050 SF)
Zoning code
R2-SRD
APN
2980000663
UPID
US90-3048850
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
$715k
CAP Approach
CAP
$560k
Comparable Approach
Comparable
$564k
Blend (final)
Blend
$700k
Owner & transaction history
Mitlite Properties LLC · 3 yrs held
Mitlite Properties LLC
since 2023
Last sale
$850,000
7 recorded transactions
Zoning & alternative use
R2-SRD · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$980,000
+80.0%
Retail stores
$960,000
+76.3%
Warehouse, storage
$950,000
+74.9%
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
$675,000
ML approach
$715,000
CAP Approach
CAP Return
Estimation
6%
$605,000
6.5%
$560,000
7%
$520,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$545,000
Current use
COMMERCIAL (GENERAL)
$980,000
Change: +80% · Conversion: Moderate
RETAIL STORES
$960,000
Change: +76% · Conversion: Difficult
WAREHOUSE, STORAGE
$950,000
Change: +75% · Conversion: Difficult
MEDICAL BUILDING
$775,000
Change: +43% · Conversion: Moderate
Blend value · Realmo final
$700k
Range $630k – $770k · ±10% · vs last sale $850k (Jun 26 2023)
Last sale anchor
$850k
Jun 26 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
$220 / 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
$7,874
Tax year 2024
Assessed value
$707,900
Assessed 2024
Previous assessed
$707,900
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$187,600
Assessed improvement
$520,300
Land market value
$187,600
Improvement market value
$520,300
Total market value
$707,900
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
1979
Construction
FRAME
Heating
BASEBOARD
Stories
2
Units
4
Bathrooms
4
Total area
3,176 SF
Lot
0.14 ac (6,050 SF)
Zoning code
R2-SRD
APN
2980000663
UPID
US90-3048850
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
R2-SRD · Tacoma, WA
Zoning R2-SRD · permitted uses
R2-SRD · 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
$545,000
COMMERCIAL (GENERAL)
Est. value
$980,000
RETAIL STORES
Est. value
$960,000
WAREHOUSE, STORAGE
Est. value
$950,000
MEDICAL BUILDING
Est. value
$775,000
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
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
1979
Construction
FRAME
Heating
BASEBOARD
Stories
2
Units
4
Bathrooms
4
Lot
0.14 ac
Current owner
From public records · entity-resolved
Mitlite Properties LLC
Entity
Mailing address
2902 S 18TH ST, TACOMA, WA 98405-2426
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
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 26, 2023
—
Mitlite Properties LLC
Andre Penalver
Quit Claim Deed
related
—
May 31, 2022
$850,000
Andre Penalver
Dudley Lau
Warranty Deed
$637,500 · Evergreen Moneysource Mortgage Co
May 31, 2022
—
Andre Penalver
Stephanie C Penalver
Intrafamily Transfer
related
—
Jul 1, 2020
—
Dudley Lau
—
Deed
related
$389,300 · Pennymac
Oct 10, 2018
$519,719
Dudley Lau
Sovann Traluch
Warranty Deed
$382,907 · Better Mortgage Corporation
Dec 31, 2015
$304,719
Sovann Traluch
Hoang Nguyen
Warranty Deed
$189,232 · Rpm Mortgage INC
Dec 31, 2015
—
Sovann Traluch
Traluch,sopheak M
Quit Claim Deed
related
—
Aug 31, 2005
$335,000
Hoang Nguyen
Davis,albert R & Rachel
Warranty Deed
$217,750 · Cmg Mortgage INC
Aug 31, 2005
—
Hoang Nguyen
Tran,tien
Quit Claim Deed
related
—
Sep 5, 2003
$255,000
Albert R Davis
Tacoma-pierce Properties LLC
Grant Deed
$191,250 · Wells Fargo Home Mortgage INC
May 16, 2003
—
Tacoma Pierce Properties LLC
Wilson,brian P
Grant Deed
related
—
Nov 19, 2002
$226,863
Brian P Wilson
Benson,shawn
Grant Deed
$152,000 · Washington Mutual Fsb
Aug 11, 2000
$293,176
Shawn Benson
Evans,richard P
Grant Deed
$112,500 · Timberland Savings Bank
—
—
Shawn M Benson
—
Deed Of Trust
related
$10,199 · First Community Bank Washingto
—
—
Shawn M Benson
—
Deed Of Trust
related
$129,500 · America's Wholesale Lender
—
—
Dudley Lau
—
Deed Of Trust
related
$389,300 · Pennymac
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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