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Property profile & analytics
OFF-MARKET
Estimated value
$2,475,000
Apartment buildings
4120 109th SW St, Lakewood, WA 98499-4187
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-1252049
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1979
Construction
WOOD FRAME
Total area
4,160 SF
Lot
0.22 ac (9,800 SF)
Zoning code
TOC
APN
6075000120
UPID
US90-1252049
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
$2.56M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.48M
Owner & transaction history
Malibu Apartments LLC · 1 yrs held
Malibu Apartments LLC
since 2025
Last sale
$2.3M
5 recorded transactions
Zoning & alternative use
TOC · Lakewood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.8M
+9.4%
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
$2,745,000
ML approach
$2,555,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,620,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,775,000
Change: +9% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,535,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$2.48M
Range $2.23M – $2.72M · ±10% · vs last sale $2.30M (Dec 4 2024)
Last sale anchor
$2.30M
Dec 4 2024
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
$595 / 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
$10,411
Tax year 2024
Assessed value
$968,200
Assessed 2024
Previous assessed
$968,200
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$551,700
Assessed improvement
$416,500
Land market value
$551,700
Improvement market value
$416,500
Total market value
$968,200
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
1979
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Units
8
Total area
4,160 SF
Lot
0.22 ac (9,800 SF)
Zoning code
TOC
APN
6075000120
UPID
US90-1252049
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
TOC · Lakewood, WA
Zoning TOC · permitted uses
TOC · 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.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.5M
APARTMENT HOUSE (5+ UNITS) Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
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
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
8
Lot
0.22 ac
Current owner
From public records · entity-resolved
Malibu Apartments LLC
Entity
Mailing address
2715 64TH AVE NEA, TACOMA, WA 98422-3352
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
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
Mar 4, 2025
$2,296,500
Malibu Apartments LLC
Kcf Investments LLC
Warranty Deed
$1,433,000 · Berkadia Commercial Mortgage LLC
Mar 16, 2020
$2,100,000
Justen Eide
Investment Contracting
Quit Claim Deed
$1,318,000 · Boeing Emps Cu
Jul 10, 2018
$900,000
Malibu Apartments LLC
Gary Krumwiede
Grant Deed
$1,115,000 · Conventus LLC
Dec 7, 1999
—
Gary Krumwiede
Five K Corp
Quit Claim Deed
related
—
Apr 8, 1994
$310,000
Five K Corp
Nuland Associate
Grant Deed
$235,000 · University Savings Bank
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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