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Property profile & analytics
OFF-MARKET
Estimated value
$1,400,000
Apartment buildings
5123 Seattle SW Ave Lakewood, WA 98499-5704
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1291736
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1967
Construction
WOOD FRAME
Total area
6,472 SF
Lot
0.38 ac (16,553 SF)
Zoning code
MF2
APN
219114006
UPID
US90-1291736
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
$1.30M
CAP Approach
CAP
$1.21M
Comparable Approach
Comparable
$1.32M
Blend (final)
Blend
$1.40M
Owner & transaction history
Mrm Investors LLC · 3 yrs held
Mrm Investors LLC
since 2022
Last sale
$1.5M
4 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
Method
Estimation
Statistic approach
$1,565,000
ML approach
$1,295,000
CAP Approach
CAP Return
Estimation
6%
$1,305,000
6.5%
$1,205,000
7%
$1,120,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,035,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$1.40M
Range $1.26M – $1.54M · ±10% · vs last sale $1.50M (Dec 2 2022)
Last sale anchor
$1.50M
Dec 2 2022
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
$216 / 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
$15,103
Tax year 2024
Assessed value
$1,390,500
Assessed 2024
Previous assessed
$1,390,500
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$721,000
Assessed improvement
$669,500
Land market value
$721,000
Improvement market value
$669,500
Total market value
$1,390,500
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
1967
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Units
10
Total area
6,472 SF
Lot
0.38 ac (16,553 SF)
Zoning code
MF2
APN
219114006
UPID
US90-1291736
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.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$2.0M
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
1967
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
10
Lot
0.38 ac
Current owner
From public records · entity-resolved
Mrm Investors LLC
Entity
Mailing address
2115 S 56TH ST STE #308, TACOMA, WA 98409-6900
Ownership since
2022
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
Dec 2, 2022
$1,500,000
Mrm Investors LLC
A J Enterprise LLC
Warranty Deed
$1,050,000 · Numerica Cu
May 31, 2002
—
A J Enterprise LLC
Belsak,jozef & Anica A
Quit Claim Deed
related
—
Sep 19, 2001
$244,314
Jozof Belsak
Mcdonough,daniel I
Grant Deed
$140,000 · Daniel I
Apr 26, 1988
$165,000
Duncan S Mcmillan
Unknown
Grant Deed
—
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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