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Property profile & analytics
OFF-MARKET
Apartment buildings
4828 123rd SW St Lakewood, WA 98499-3444
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0726229
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1976
Construction
WOOD FRAME
Total area
4,752 SF
Lot
3.86 ac (168,359 SF)
Zoning code
MF2
APN
219123084
UPID
US90-0726229
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
-
James Apartments in Lakewood, WA Apartment Building Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
James Apartments Lakewood Owner LLC · 4 yrs held
James Apartments Lakewood Owner LLC
since 2021
Last sale
$32.6M
7 recorded transactions
Zoning & alternative use
MF2 · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$257,276
Tax year 2024
Assessed value
$24,201,000
Assessed 2024
Previous assessed
$24,201,000
+0.0% YoY
Effective rate
1.06%
On assessed value
Assessed land
$4,686,500
Assessed improvement
$19,514,500
Land market value
$4,686,500
Improvement market value
$19,514,500
Total market value
$24,201,000
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 (100+ UNITS)
Status
Off-Market
Year built
1976
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
15
Stories
2
Units
8
Total area
4,752 SF
Lot
3.86 ac (168,359 SF)
Zoning code
MF2
APN
219123084
UPID
US90-0726229
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
MF2 · Lakewood, WA
Zoning MF2 · permitted uses
MF2 · 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
1976
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
15
Units
8
Lot
3.86 ac
Current owner
From public records · entity-resolved
James Apartments Lakewood Owner LLC
Entity
Mailing address
300 DESCHUTES WAY SW STE #208, TUMWATER, WA 98501-7719
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 29, 2023
—
James Apartments Lakewood Owner LLC
—
Deed
related
$23,333,000 · M&t Realty Capital Corporation
Nov 10, 2021
$32,549,857
James Apartments Lakewood Owner LLC
Bel Canto Watt James LLC
Bargain And Sale Deed
$26,950,000 · Bds IV Mortgage Capital G LLC
Aug 28, 2018
—
Bel Canto Watt James LLC
Fpa5 Clover Lake LLC
Special Warranty Deed
—
Dec 15, 2017
—
Fpa5 Clover Lake LLC
—
Deed
related
$2,512,000 · Berkadia Commercial Mortgage LLC
Nov 10, 2016
$10,978,119
Fpa5 Clover Lake LLC
Clover Lake Apartments LLC
Warranty Deed
$8,880,000 · Berkadia Commercial Mortgage LLC
Sep 22, 2004
$4,825,000
Clover Lake Apartments LLC
Income Real Estate Ptshp 5
Warranty Deed
$3,860,000 · Heritage Bank
Apr 30, 2002
—
Real Estates Ptshp 5 Income
—
Deed Of Trust
related
$2,500,000 · Rainier Pacific Bank
—
—
Income Real Estate Ptshp
—
Deed Of Trust
related
$1,700,000 · Heritage Bank
—
—
Clover Lake Apartments LLC
—
Deed Of Trust
related
$6,400,000 · Heritage 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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