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Property profile & analytics
OFF-MARKET
Estimated value
$5,025,000
Apartment buildings
3412 90th S St Lakewood, WA 98499-3655
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1068907
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1987
Construction
WOOD FRAME
Total area
5,560 SF
Lot
1 ac (43,560 SF)
Zoning code
AC2
APN
320313036
UPID
US90-1068907
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
$5.76M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.63M
Blend (final)
Blend
$5.03M
Owner & transaction history
Kelley Properties LLC · 4 yrs held
Kelley Properties LLC
since 2021
Last sale
$5.0M
6 recorded transactions
Zoning & alternative use
AC2 · Lakewood, 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 Lakewood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lakewood 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
$5,770,000
ML approach
$5,760,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$5.03M
Range $4.52M – $5.53M · ±10% · vs last sale $4.98M (Nov 15 2021)
Last sale anchor
$4.98M
Nov 15 2021
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
$904 / 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
$48,326
Tax year 2024
Assessed value
$4,458,400
Assessed 2024
Previous assessed
$4,458,400
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$1,589,800
Assessed improvement
$2,868,600
Land market value
$1,589,800
Improvement market value
$2,868,600
Total market value
$4,458,400
Applied tax rate
760.0000
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
1987
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
4
Stories
2
Units
8
Total area
5,560 SF
Lot
1 ac (43,560 SF)
Zoning code
AC2
APN
320313036
UPID
US90-1068907
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
AC2 · Lakewood, WA
Zoning AC2 · permitted uses
AC2 · Lakewood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lakewood. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1987
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
4
Units
8
Lot
1 ac
Current owner
From public records · entity-resolved
Kelley Properties LLC
Entity
Mailing address
PO BOX 99945, LAKEWOOD, WA 98496-0945
Ownership since
2021
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
Nov 15, 2021
$4,984,000
Kelley Properties LLC
Mk Chandelle LLC
Bargain And Sale Deed
$3,250,000 · Berkadia Commercial Mortgage LLC
Oct 18, 2016
$1,824,719
Mk Chandelle LLC
Chandelle LLC
Warranty Deed
$1,179,750 · Opus Bank
Jun 28, 2002
$1,290,000
Chandelle LLC
Brown-bechtold Invest Ptshp
Grant Deed
$645,000 · Abn Amro Mortgage Group INC
Oct 23, 2000
$825,000
Brown-bechtold Inv Partnership
Swanson,michael E & Joanna A
Grant Deed
$660,000 · Seller
Mar 15, 1991
$747,614
Michael E Swanson
Chandelie Apts
Grant Deed
$695,614 · Chandelie Apts
—
—
Rk Chandelle LLC
—
Deed Of Trust
related
$2,200,000 · Cbre Cap Markets
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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