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Property profile & analytics
OFF-MARKET
Estimated value
$2,495,000
Apartment buildings
427 Bellwood Dr Spokane, WA 99218-2865
Individually Owned
5-yr Hold
Free & Clear
Property ID
US90-0105756
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1976
Total area
300 SF
Lot
0.98 ac (42,855 SF)
APN
36075.2608
UPID
US90-0105756
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
Current use
Occupant on record · Public records
-
Fairwood Court Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.50M
Owner & transaction history
Efrain Ramirez · 5 yrs held
Efrain Ramirez
since 2020
Last sale
$1.7M
6 recorded transactions
Zoning & alternative use
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 Spokane submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spokane 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%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.50M
Range $2.25M – $2.74M · ±10% · vs last sale $1.73M (Nov 25 2020)
Last sale anchor
$1.73M
Nov 25 2020
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
$8,317 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$18,624
Tax year 2023
Assessed value
$1,996,200
Assessed 2024
Previous assessed
$1,423,900
+40.2% YoY
Effective rate
0.93%
On assessed value
Assessed land
$235,700
Assessed improvement
$1,760,500
Land market value
$235,700
Improvement market value
$1,760,500
Total market value
$1,996,200
Applied tax rate
1,280.0000
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
1976
Heating
NONE
Buildings
2
Stories
2
Units
18
Bathrooms
18
Total area
300 SF
Lot
0.98 ac (42,855 SF)
APN
36075.2608
UPID
US90-0105756
Jurisdiction
SPOKANE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1976
Heating
NONE
Stories
2
Buildings
2
Units
18
Bathrooms
18
Lot
0.98 ac
Current owner
From public records · entity-resolved
Efrain Ramirez
Individual
Free & Clear · 5 yrs held
Mailing address
3104 S PARK LN, SPOKANE, WA 99212-3075
Ownership since
2020
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 25, 2020
$1,728,087
Efrain Ramirez
Bellwood Apartments LLC
Grant Deed
—
Mar 3, 2017
—
Bellwood Apartments LLC
—
Deed
related
$325,000 · Spokane Teachers Cu
Sep 25, 2013
—
Bellwood Apartments LLC
Gilbert,william L & Stella A
Quit Claim Deed
related
—
Aug 6, 2010
$742,350
William L Gilbert
Frowick L H Family Trust
Warranty Deed
$250,000 · Spokane Teachers Cu
Dec 30, 2004
$799,998
Frowick Lawrence H Trust
Cornelius Family Trust
Warranty Deed
—
—
—
Bellwood Apartments LLC
—
Deed Of Trust
related
$325,000 · Spokane Teachers Cu
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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