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Property profile & analytics
OFF-MARKET
Estimated value
$1,360,000
Apartment buildings
3411 Bridgeport W Way, University Place, WA 98466-4532
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-0823003
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1975
Construction
WOOD FRAME
Total area
8,004 SF
Lot
1.04 ac (45,302 SF)
Zoning code
MUO
APN
220104160
UPID
US90-0823003
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
by Request
CAP Approach
CAP
$1.41M
Comparable Approach
Comparable
$948k
Blend (final)
Blend
$1.36M
Owner & transaction history
City Of University Place · 3 yrs held
City Of University Place
since 2022
7 recorded transactions
Zoning & alternative use
MUO · University Place, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.0M
+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
by Request
CAP Approach
CAP Return
Estimation
6%
$1,525,000
6.5%
$1,410,000
7%
$1,310,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,660,000
Current use
MEDICAL BUILDING
$1,960,000
Change: +18% · Conversion: Moderate
Blend value · Realmo final
$1.36M
Range $1.22M – $1.50M · ±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
$170 / 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
$53,239
Tax year 2024
Assessed value
$4,450,300
Assessed 2024
Previous assessed
$4,450,300
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$1,985,400
Assessed improvement
$2,464,900
Land market value
$1,985,400
Improvement market value
$2,464,900
Total market value
$4,450,300
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
1975
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
CENTRAL
Buildings
3
Stories
2
Units
14
Total area
8,004 SF
Lot
1.04 ac (45,302 SF)
Zoning code
MUO
APN
220104160
UPID
US90-0823003
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
MUO · University Place, WA
Zoning MUO · permitted uses
MUO · 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
$1.7M
MEDICAL BUILDING
Est. value
$2.0M
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
1975
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
Yes
Stories
2
Buildings
3
Units
14
Lot
1.04 ac
Current owner
From public records · entity-resolved
City Of University Place
Entity
Mailing address
2715 64TH AVE NEA, TACOMA, WA 98422-3352
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 29, 2022
—
City Of University Place
Bridgeport Apartments LLC
Warranty Deed
—
Aug 20, 2019
$4,046,900
Bridgeport Apartments LLC
Tyroda Enso LLC
Warranty Deed
$3,000,000 · Umpqua Bank
Aug 30, 2017
—
Tyroda Enso LLC
—
Deed
related
$2,000,000 · Jpmorgan Chase Bank NA
Jun 1, 2016
$2,600,000
Tyroda Enso LLC
Bridgeporter LLC
Warranty Deed
—
Jun 1, 2016
—
Bridgeporter LLC
—
Deed
related
$1,788,000 · Opus Bk
Jun 30, 2015
$2,381,719
Bridgeporter LLC
Bridgeporter Apartments LLC
Warranty Deed
$1,788,000 · Opus Bank
Feb 25, 2008
$7,285
City Of University Place
Bridgeporter Apartments LLC
Warranty Deed
—
Oct 25, 2004
—
Bridgeporter Apartments LLC
Nowers 1988 Trust
Grant Deed
related
—
Feb 13, 2003
—
Nowers,tr
Nowers,michael & Adrienne
Quit Claim Deed
related
$805,000 · Washington Mutual Fsb
Nov 25, 1997
$990,000
Cornet Trust
Saatela,john T & Janet C
Grant Deed
$742,500 · Washington Mutual Fsb
—
—
John T Saatela
—
Deed Of Trust
related
$282,005 · Seller
—
—
Bridgeporter LLC
—
Loan Modification
related
$1,788,000 · Opus Bk
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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