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Property profile & analytics
OFF-MARKET
Estimated value
$1,175,000
Apartment buildings
3806 78th Ave W Ct, University Place, WA 98466-3242
Individually Owned
8-yr Hold
~
Est. High Equity
Property ID
US90-0364374
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1990
Construction
WOOD FRAME
Total area
5,536 SF
Lot
11.5 ac (500,853 SF)
Zoning code
MF
APN
220156032
UPID
US90-0364374
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
$1.17M
CAP Approach
CAP
$975k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.18M
Owner & transaction history
Breit Wave Mf Stonepointe Owne · 8 yrs held
Breit Wave Mf Stonepointe Owne
since 2018
7 recorded transactions
Zoning & alternative use
MF · University Place, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.7M
+45.8%
Warehouse, storage
$1.7M
+44.7%
Commercial (general)
$1.6M
+43.0%
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
$1,165,000
CAP Approach
CAP Return
Estimation
6%
$1,055,000
6.5%
$975,000
7%
$905,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,145,000
Current use
RETAIL STORES
$1,670,000
Change: +46% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,660,000
Change: +45% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,640,000
Change: +43% · Conversion: Moderate
MEDICAL BUILDING
$1,355,000
Change: +18% · Conversion: Moderate
Blend value · Realmo final
$1.18M
Range $1.06M – $1.29M · ±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
$212 / 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
$649,857
Tax year 2024
Assessed value
$55,112,600
Assessed 2024
Previous assessed
$55,112,600
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$16,688,300
Assessed improvement
$38,424,300
Land market value
$16,688,300
Improvement market value
$38,424,300
Total market value
$55,112,600
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
1990
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
CENTRAL
Buildings
21
Stories
2
Units
12
Total area
5,536 SF
Lot
11.5 ac (500,853 SF)
Zoning code
MF
APN
220156032
UPID
US90-0364374
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
MF · University Place, WA
Zoning MF · permitted uses
MF · 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
$1.1M
RETAIL STORES
Est. value
$1.7M
WAREHOUSE, STORAGE
Est. value
$1.7M
COMMERCIAL (GENERAL)
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
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
1990
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
Yes
Stories
2
Buildings
21
Units
12
Lot
11.5 ac
Current owner
From public records · entity-resolved
Breit Wave Mf Stonepointe Owne
Individual
Mailing address
PO BOX A3878, CHICAGO, IL 60690-3878
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 5, 2025
—
Breit Wave Mf Stonepointe Owner LLC
—
Deed
related
$725,000,000 · Capital One NA
May 29, 2018
$48,200,000
Breit Wave Mf Stonepointe Owne
Kw University Place LLC
Grant Deed
$32,672,000 · Holliday Fenoglio Fowler
Jul 31, 2014
$26,000,000
Kw University Place LLC
Holland Holdings II Jonathans
Grant Deed
$20,002,000 · Us Bank NA 2012-k709 (ce)
Jun 18, 2004
$18,240,000
Holdings I Polo Club L Holland
Graoch Associates 4
Warranty Deed
related
$14,600,000 · Gmac Commercial Mortgage Bank
Jun 2, 1993
$9,477,000
Graoch Associates #4 Ltd
Unknown
Grant Deed
—
—
—
Graoch Associates #4 LP
—
Deed Of Trust
related
$10,300,000 · Credit Suisse First Boston Mtg
—
—
Holdings I Polo Club L Holland
—
Deed Of Trust
related
$3,386,000 · Capmark Bank
—
—
Holdings I Polo Club L Holland
—
Deed Of Trust
related
$20,002,000 · Cbre Capital Markets INC
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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