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Property profile & analytics
OFF-MARKET
Estimated value
$1,310,000
Apartment buildings
4950 51st SE Ln, Lacey, WA 98503-5574
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US90-0791592
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1990
Construction
WOOD FRAME
Total area
7,392 SF
Lot
4.96 ac (216,058 SF)
APN
1183-33-20300
UPID
US90-0791592
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
$855k
CAP Approach
CAP
$1.43M
Comparable Approach
Comparable
$1.65M
Blend (final)
Blend
$1.31M
Owner & transaction history
Firwood Grove LLC · 17 yrs held
Firwood Grove LLC
since 2008
4 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 Lacey submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lacey 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
$855,000
CAP Approach
CAP Return
Estimation
6%
$1,545,000
6.5%
$1,425,000
7%
$1,325,000
Blend value · Realmo final
$1.31M
Range $1.18M – $1.44M · ±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
$177 / 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
$76,000
Tax year 2023
Assessed value
$8,000,400
Assessed 2022
Previous assessed
$6,998,400
+14.3% YoY
Effective rate
0.95%
On assessed value
Assessed land
$1,027,400
Assessed improvement
$6,973,000
Land market value
$1,027,400
Improvement market value
$6,973,000
Total market value
$8,000,400
Applied tax rate
241.0000
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
1990
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
WALL UNIT
Stories
2
Bathrooms
16
Total area
7,392 SF
Lot
4.96 ac (216,058 SF)
APN
1183-33-20300
UPID
US90-0791592
Jurisdiction
THURSTON
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
1990
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
Yes
Stories
2
Bathrooms
16
Lot
4.96 ac
Current owner
From public records · entity-resolved
Firwood Grove LLC
Entity
Mailing address
2402 PARK HL DR, LONGVIEW, WA 98632-5764
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 27, 2008
—
Firwood Grove LLC
Ng,pak C & Cindy K
Quit Claim Deed
related
—
Feb 28, 1992
$2,075,000
Pak C Chung
Unknown
Grant Deed
—
Mar 6, 1989
$115,000
Darrell Darrell Peterson
Krysty, Kaycee
Grant Deed
—
—
—
Pak C Ng
—
Deed Of Trust
related
$900,000 · Us Bank NA
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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