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Property profile & analytics
OFF-MARKET
Estimated value
$4,195,000
Apartment buildings
501 7th St Tacoma, WA 98402-2234
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-3174679
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1972
Construction
WOOD FRAME
Total area
16,492 SF
Lot
0.31 ac (13,423 SF)
Zoning code
DR
APN
2006100041
UPID
US90-3174679
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
-
Bay Crest Apartments Real Estate Rental Agency Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.20M
CAP Approach
CAP
$2.91M
Comparable Approach
Comparable
$3.69M
Blend (final)
Blend
$4.20M
Owner & transaction history
Baycrest Asset Management LLC · 2 yrs held
Baycrest Asset Management LLC
since 2024
Last sale
$4.2M
7 recorded transactions
Zoning & alternative use
DR · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.5M
+89.0%
Auto repair, garage
$6.1M
+78.3%
Retail stores
$5.5M
+61.2%
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 Tacoma submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tacoma 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
$4,195,000
ML approach
$4,195,000
CAP Approach
CAP Return
Estimation
6%
$3,145,000
6.5%
$2,905,000
7%
$2,700,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,415,000
Current use
RESTAURANT
$6,455,000
Change: +89% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,090,000
Change: +78% · Conversion: Difficult
RETAIL STORES
$5,505,000
Change: +61% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,415,000
Change: +59% · Conversion: Moderate
MEDICAL BUILDING
$4,035,000
Change: +18% · Conversion: Moderate
Blend value · Realmo final
$4.20M
Range $3.78M – $4.61M · ±10% · vs last sale $4.20M (May 10 2024)
Last sale anchor
$4.20M
May 10 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
$254 / 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
$52,604
Tax year 2024
Assessed value
$4,735,100
Assessed 2024
Previous assessed
$4,735,100
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,623,800
Assessed improvement
$3,111,300
Land market value
$1,623,800
Improvement market value
$3,111,300
Total market value
$4,735,100
Applied tax rate
5.0000
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
1972
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
CENTRAL
Stories
3
Units
30
Total area
16,492 SF
Lot
0.31 ac (13,423 SF)
Zoning code
DR
APN
2006100041
UPID
US90-3174679
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
DR · Tacoma, WA
Zoning DR · permitted uses
DR · Tacoma, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tacoma. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$3.4M
RESTAURANT
Est. value
$6.5M
AUTO REPAIR, GARAGE
Est. value
$6.1M
RETAIL STORES
Est. value
$5.5M
COMMERCIAL (GENERAL)
Est. value
$5.4M
MEDICAL BUILDING
Est. value
$4.0M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
1972
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
Yes
Stories
3
Units
30
Lot
0.31 ac
Current owner
From public records · entity-resolved
Baycrest Asset Management LLC
Entity
Mailing address
15406 MERIDIAN E, PUYALLUP, WA 98375-9504
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 10, 2024
$4,197,000
Baycrest Asset Management LLC
Baycrest Apartments LLC
Warranty Deed
$3,150,000 · Telco Community Cu
Aug 15, 2007
—
Baycrest Apartments LLC
Peterson,mari E
Quit Claim Deed
related
—
May 1, 2007
—
Mari P Wilber
Wilber,richard A
Quit Claim Deed
related
—
Aug 16, 1999
$916,000
Wilber Land Co
Grana Investments
Grant Deed
$751,000 · Grana Investments
—
—
Grana Investments
—
Deed Of Trust
related
$375,000 · Cascade Savings Bank
—
—
Wilber Land Co
—
Deed Of Trust
related
$760,000 · Rainier Pacific Bank
—
—
Baycrest Apartments LLC
—
Deed Of Trust
related
$703,326 · Sound Community Bank
—
—
Wilber Land Co LLC
—
Deed Of Trust
related
$780,000 · Rainier Pacific 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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