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Property profile & analytics
OFF-MARKET
Estimated value
$2,200,000
Apartment buildings
5011 157th Ave E Ct Sumner, WA 98390-2804
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-0763116
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1989
Construction
WOOD FRAME
Total area
6,706 SF
Lot
0.55 ac (23,958 SF)
Zoning code
LDR-4
APN
520196020
UPID
US90-0763116
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
-
Salmon Creek Apartments Apartment Building
-
Salmon Court Apartments Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.20M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.40M
Blend (final)
Blend
$2.20M
Owner & transaction history
Dharwad Properties LLC · 2 yrs held
Dharwad Properties LLC
since 2024
Last sale
$2.2M
6 recorded transactions
Zoning & alternative use
LDR-4 · Sumner, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.1M
+54.9%
Commercial (general)
$2.9M
+44.1%
Neighborhood: shopping center
$2.9M
+43.4%
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 Sumner submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sumner 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
$2,200,000
ML approach
$2,200,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,995,000
Current use
RESTAURANT
$3,090,000
Change: +55% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,875,000
Change: +44% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$2,860,000
Change: +43% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,830,000
Change: +42% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,465,000
Change: +24% · Conversion: Difficult
RETAIL STORES
$2,055,000
Change: +3% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,000,000
Change: +0% · Conversion: Difficult
Blend value · Realmo final
$2.20M
Range $1.98M – $2.42M · ±10% · vs last sale $2.20M (May 28 2024)
Last sale anchor
$2.20M
May 28 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
$328 / 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
$10,118
Tax year 2024
Assessed value
$978,800
Assessed 2024
Previous assessed
$978,800
+0.0% YoY
Effective rate
1.03%
On assessed value
Assessed land
$620,200
Assessed improvement
$358,600
Land market value
$620,200
Improvement market value
$358,600
Total market value
$978,800
Applied tax rate
117.0000
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
1989
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
CENTRAL
Stories
2
Units
8
Total area
6,706 SF
Lot
0.55 ac (23,958 SF)
Zoning code
LDR-4
APN
520196020
UPID
US90-0763116
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
LDR-4 · Sumner, WA
Zoning LDR-4 · permitted uses
LDR-4 · Sumner, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sumner. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.0M
RESTAURANT
Est. value
$3.1M
COMMERCIAL (GENERAL)
Est. value
$2.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.9M
INDUSTRIAL (GENERAL)
Est. value
$2.8M
AUTO REPAIR, GARAGE
Est. value
$2.5M
RETAIL STORES
Est. value
$2.1M
WAREHOUSE, STORAGE
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
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
1989
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
Yes
Stories
2
Units
8
Lot
0.55 ac
Current owner
From public records · entity-resolved
Dharwad Properties LLC
Entity
Mailing address
457 140TH AVE NE, BELLEVUE, WA 98005-4707
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 28, 2024
$2,199,200
Dharwad Properties LLC
Salmon Creek Management LLC
Warranty Deed
$1,358,000 · Washington State Employees Cu
Nov 12, 2020
—
Salmon Creek Management LLC
—
Deed
related
$500,000 · Maldiz Holdings LLC
Dec 6, 2019
—
Salmon Creek Management LLC
—
Deed
related
$1,383,000 · Berkadia Commercial Mortgage LLC
Oct 10, 2018
$859,719
Salmon Creek Management LLC
Michael Sandeman
Warranty Deed
$816,000 · Civic Financial Services LLC
Jun 22, 1993
$290,000
P Michael Sandeman
Unknown
Grant Deed
$197,200
—
—
Salmon Creek Management LLC
—
Deed Of Trust
related
$500,000 · Maldiz Holdings LLC
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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