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Property profile & analytics
FOR SALE
Apartment buildings
5610 23Rd St E, Fife, WA 98424
Entity Owned
~
Est. High Equity
Property ID
US90-0966029
No photos on file
For Sale
$7,950,000
5610 23Rd St E, Fife, WA 98424
View Listing →
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1976
Construction
WOOD FRAME
Total area
5,367 SF
Lot
1.53 ac (66,560 SF)
Zoning code
HIGH DENSI
APN
420072024
UPID
US90-0966029
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
$7.60M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.28M
Owner & transaction history
Landing Fife 42 LLC
Landing Fife 42 LLC
since 2025
Last sale
$7.2M
7 recorded transactions
Zoning & alternative use
HIGH DENSI · Fife, 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 Fife submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fife 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
$7,115,000
ML approach
$7,600,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$7.28M
Range $6.55M – $8.00M · ±10% · vs last sale $7.19M (Sep 21 2021)
Last sale anchor
$7.19M
Sep 21 2021
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
$1,356 / 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
$41,490
Tax year 2024
Assessed value
$4,365,300
Assessed 2024
Previous assessed
$4,365,300
+0.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$1,577,900
Assessed improvement
$2,787,400
Land market value
$1,577,900
Improvement market value
$2,787,400
Total market value
$4,365,300
Applied tax rate
66.0000
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
For Sale
Year built
1976
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
6
Stories
2
Units
8
Total area
5,367 SF
Lot
1.53 ac (66,560 SF)
Zoning code
HIGH DENSI
APN
420072024
UPID
US90-0966029
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
HIGH DENSI · Fife, WA
Zoning HIGH DENSI · permitted uses
HIGH DENSI · Fife, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fife. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1976
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
6
Units
8
Lot
1.53 ac
Current owner
From public records · entity-resolved
Landing Fife 42 LLC
Entity
Mailing address
4821 GOLDEN FOOTHILL PKWY STE #210, EL DORADO HILLS, CA 95762-9351
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 11, 2025
$6,439,500
Landing Fife 42 LLC
Fife Investors 1 LLC
Warranty Deed
$5,290,000 · Key Bank NA
Sep 21, 2021
$7,193,700
Fife Investors 1 LLC
Downs Real Estate Investments LLC
Warranty Deed
$6,375,000 · Latitude Management Real Estate Cap
Oct 28, 2013
$91,600
City Of Fife
Downs Real Estate Investments
Warranty Deed
—
May 1, 2009
—
Downs Real Estate Investments LLC
Alan W Downs
Quit Claim Deed
related
$700,000 · Washington Federal Savings
May 1, 2009
$280,000
Downs Family Trust
Downs Ents
Quit Claim Deed
related
—
Jan 28, 1992
$966,684
Downs Enterprises
Unknown
Grant Deed
—
—
—
Downs Enterprises
—
Deed Of Trust
related
$715,000 · Washington Federal Savings
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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