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Property profile & analytics
OFF-MARKET
Estimated value
$1,535,000
Apartment buildings
4914 115th St SW Ct Lakewood, WA 98499-5111
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-3099277
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1963
Construction
WOOD FRAME
Total area
6,400 SF
Lot
0.36 ac (15,484 SF)
Zoning code
TOC
APN
2650000100
UPID
US90-3099277
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
$1.73M
CAP Approach
CAP
$1.19M
Comparable Approach
Comparable
$1.31M
Blend (final)
Blend
$1.54M
Owner & transaction history
Lakewood 17 LLC · 4 yrs held
Lakewood 17 LLC
since 2021
Last sale
$1.6M
7 recorded transactions
Zoning & alternative use
TOC · 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
Method
Estimation
Statistic approach
$1,825,000
ML approach
$1,730,000
CAP Approach
CAP Return
Estimation
6%
$1,290,000
6.5%
$1,190,000
7%
$1,105,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,495,000
Current use
AUTO REPAIR, GARAGE
$2,360,000
Change: -5% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,015,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$1.54M
Range $1.38M – $1.69M · ±10% · vs last sale $1.58M (Nov 30 2021)
Last sale anchor
$1.58M
Nov 30 2021
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
$240 / 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
$12,062
Tax year 2024
Assessed value
$1,087,600
Assessed 2024
Previous assessed
$1,087,600
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$456,400
Assessed improvement
$631,200
Land market value
$456,400
Improvement market value
$631,200
Total market value
$1,087,600
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
1963
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Units
8
Total area
6,400 SF
Lot
0.36 ac (15,484 SF)
Zoning code
TOC
APN
2650000100
UPID
US90-3099277
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
$2.5M
AUTO REPAIR, GARAGE
Est. value
$2.4M
COMMERCIAL (GENERAL)
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1963
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
8
Lot
0.36 ac
Current owner
From public records · entity-resolved
Lakewood 17 LLC
Entity
Mailing address
723 THE PKWY, RICHLAND, WA 99352-4259
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
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 1, 2025
—
Lakwood 17 Lc
—
Deed
related
$1,097,000 · Rflf 4 LLC
Mar 17, 2023
—
Lakewood 17 LLC
—
Deed
related
$1,008,000 · Rain City Capital LLC
Nov 30, 2021
—
Lakewood 17 LLC
Sage Investment Group LLC
Quit Claim Deed
related
—
Oct 15, 2021
—
Sage Investment Group LLC
Lakewood 17 LLC
Quit Claim Deed
related
$1,187,250 · Magnolia Capital Partners LLC
Sep 22, 2021
$1,577,662
Lakewood 17 LLC
Lakewood Community Group LLC
Warranty Deed
$367,500 · Bank Of The West
Dec 31, 2019
$875,000
Lakewood Community Group LLC
Melody Apartments LLC
Warranty Deed
$731,250 · Construction Loan Services LLC
Nov 13, 2017
—
Meldoy Apts LLC
—
Deed
related
$50,000 · Timberland Bank
May 21, 2015
—
Melody Apts LLC
Del Rosario Narcisco & Asuncion
Quit Claim Deed
related
—
Sep 30, 2011
$304,200
Narcisco Delrosario
L Jon LLC
Warranty Deed
$105,000 · L Jon LLC
Sep 19, 2011
—
L Jon LLC
Skelly L L & L L Living Trust
Grant Deed
—
Oct 9, 2008
—
L Jon LLC
Skelly,leslie L & Landra
Grant Deed
—
Mar 19, 1992
$160,000
Leslie L Skelly
Unknown
Grant Deed
$4,800 · Company Misc
—
—
Skelly Leslie L & L L Trust
—
Deed Of Trust
related
$81,864 · Northwest Commercial 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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