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Property profile & analytics
OFF-MARKET
Estimated value
$1,070,000
Apartment buildings
5601 37th St, Tacoma, WA 98407-2666
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-0043538
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1986
Construction
WOOD FRAME
Total area
7,296 SF
Lot
9.06 ac (394,654 SF)
Zoning code
R4L
APN
221261072
UPID
US90-0043538
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
-
D & N Computer Services Computer & Electronic Repair
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.13M
CAP Approach
CAP
$1.29M
Comparable Approach
Comparable
$802k
Blend (final)
Blend
$1.07M
Owner & transaction history
Gre Northpoint LLC · 8 yrs held
Gre Northpoint LLC
since 2018
5 recorded transactions
Zoning & alternative use
R4L · Tacoma, 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 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
by Request
ML approach
$1,130,000
CAP Approach
CAP Return
Estimation
6%
$1,390,000
6.5%
$1,285,000
7%
$1,195,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,510,000
Current use
Blend value · Realmo final
$1.07M
Range $963k – $1.18M · ±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
$147 / 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
$587,837
Tax year 2024
Assessed value
$52,924,200
Assessed 2024
Previous assessed
$52,924,200
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$7,226,700
Assessed improvement
$45,697,500
Land market value
$7,226,700
Improvement market value
$45,697,500
Total market value
$52,924,200
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 (100+ UNITS)
Status
Off-Market
Year built
1986
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
22
Stories
3
Units
12
Total area
7,296 SF
Lot
9.06 ac (394,654 SF)
Zoning code
R4L
APN
221261072
UPID
US90-0043538
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
R4L · Tacoma, WA
Zoning R4L · permitted uses
R4L · 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
$1.5M
APARTMENT HOUSE (5+ UNITS) Current
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
1986
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
22
Units
12
Lot
9.06 ac
Current owner
From public records · entity-resolved
Gre Northpoint LLC
Entity
Mailing address
10 INVERNESS DR E STE #250, ENGLEWOOD, CO 80112-5612
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 30, 2018
—
Gre Northpoint LLC
Northpoint Fw LLC
Quit Claim Deed
$61,649,000 · Walker & Dunlop
Oct 19, 2016
$47,200,000
Northpoint Ar LLC
Dwc Newport LLC
Trustees Deed
$46,000,000 · Bank Of America
Dec 4, 2006
$31,959,800
Newport Village Apartments LLC
Newport Village I LP
Special Warranty Deed
$24,000,000 · Wachovia Bank NA
Nov 21, 2006
—
Newport Village II
Newport Village II
Quit Claim Deed
related
—
—
—
Jay C Wiley
—
Deed Of Trust
related
$100,000 · Hamilton Donald W
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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