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Property profile & analytics
OFF-MARKET
Estimated value
$18,040,000
Apartment buildings
3633 Market W Pl, University Place, WA 98466-4489
Individually Owned
12-yr Hold
~
Est. High Equity
Property ID
US90-1048729
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
2014
Construction
STEEL FRAME
Total area
180,626 SF
Lot
1.03 ac (44,823 SF)
Zoning code
TC
APN
4002560100
UPID
US90-1048729
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$18.04M
Owner & transaction history
Latitude 47 Mixed Use Building · 12 yrs held
Latitude 47 Mixed Use Building
since 2013
5 recorded transactions
Zoning & alternative use
TC · University Place, 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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$100 / 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
$163,605
Tax year 2024
Assessed value
$39,723,600
Assessed 2024
Previous assessed
$39,723,600
+0.0% YoY
Effective rate
0.41%
On assessed value
Assessed land
$5,813,600
Assessed improvement
$33,910,000
Land market value
$5,813,600
Improvement market value
$33,910,000
Total market value
$39,723,600
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 (100+ UNITS)
Status
Off-Market
Year built
2014
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
AC.PACKAGE
Stories
5
Units
170
Total area
180,626 SF
Lot
1.03 ac (44,823 SF)
Zoning code
TC
APN
4002560100
UPID
US90-1048729
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
TC · University Place, WA
Zoning TC · permitted uses
TC · 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.
Building & site characteristics
From public records
Year built
2014
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
5
Units
170
Lot
1.03 ac
Current owner
From public records · entity-resolved
Latitude 47 Mixed Use Building
Individual
Mailing address
3633 MARKET PL W STE #7, UNIVERSITY PLACE, WA 98466-4650
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 18, 2017
—
Latitude 47 Mixed Use Building LLC
—
Deed
related
$309,000 · Wells Fargo Bank NA
Oct 29, 2013
$800,100
Latitude 47 Mixed Use Building
City Of University Place
Grant Deed
related
—
Oct 18, 2013
—
Latitude 47 Mixed Use Building
City Of University Place
Warranty Deed
—
May 23, 2012
—
City Of University Place
Pierce Cnty Rural Library Dist
Quit Claim Deed
related
—
—
—
Latitude 47 Mixed Use Building
—
Loan Modification
related
$21,800,000 · Wells Fargo 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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