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Property profile & analytics
OFF-MARKET
Estimated value
$2,385,000
Apartment buildings
5610 Boston SW Ave Lakewood, WA 98499-3263
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1577075
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1978
Construction
WOOD FRAME
Total area
5,820 SF
Lot
0.72 ac (31,500 SF)
Zoning code
MF1
APN
219141023
UPID
US90-1577075
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
-
Emerald Village Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.34M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.97M
Blend (final)
Blend
$2.39M
Owner & transaction history
Smaragdiproperties LLC · 3 yrs held
Smaragdiproperties LLC
since 2022
Last sale
$2.5M
7 recorded transactions
Zoning & alternative use
MF1 · Lakewood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.7M
+18.3%
Neighborhood: shopping center
$2.5M
+9.4%
Industrial (general)
$2.5M
+8.4%
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 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
$2,610,000
ML approach
$2,340,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,265,000
Current use
RESTAURANT
$2,680,000
Change: +18% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,480,000
Change: +9% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,455,000
Change: +8% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,145,000
Change: -5% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,830,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$2.39M
Range $2.15M – $2.62M · ±10% · vs last sale $2.50M (Dec 21 2022)
Last sale anchor
$2.50M
Dec 21 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
$410 / 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
$22,937
Tax year 2024
Assessed value
$2,098,400
Assessed 2024
Previous assessed
$2,098,400
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$1,372,400
Assessed improvement
$726,000
Land market value
$1,372,400
Improvement market value
$726,000
Total market value
$2,098,400
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
1978
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Units
11
Total area
5,820 SF
Lot
0.72 ac (31,500 SF)
Zoning code
MF1
APN
219141023
UPID
US90-1577075
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
MF1 · Lakewood, WA
Zoning MF1 · permitted uses
MF1 · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.3M
RESTAURANT
Est. value
$2.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.5M
INDUSTRIAL (GENERAL)
Est. value
$2.5M
AUTO REPAIR, GARAGE
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$1.8M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1978
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
11
Lot
0.72 ac
Current owner
From public records · entity-resolved
Smaragdiproperties LLC
Entity
Mailing address
302 WASHINGTON ST #201, SAN DIEGO, CA 92103-2110
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 21, 2022
$2,500,000
Smaragdiproperties LLC
Duong V To
Warranty Deed
$2,050,000 · Seattle Bank
Nov 26, 2007
$900,000
Hao Q Lee
Ev Properties LLC
Warranty Deed
$701,500 · Rainier Pacific Bank
Apr 10, 2006
—
Ev Properties LLC
Collins,michael & Deborah
Quit Claim Deed
related
—
Jun 2, 2005
$717,000
Michael Collins
Emerald Village Apartments LLC
Warranty Deed
—
Apr 15, 2003
$671,176
Emerald Village Apartments LLC
Kelly,paul J & Kathleen P
Grant Deed
—
Oct 20, 2000
$450,000
Paul J Kelly
Helmke,beate
Grant Deed
$360,000 · Abn Amro Mortgage Group INC
Jun 15, 1998
—
Duncan Davies Yamamura
Blackbourn Servieces INC
Quit Claim Deed
related
—
Nov 20, 1990
$400,000
Bea Helmke
Unknown
Grant Deed
—
—
—
Beate Helmke
—
Deed Of Trust
related
$292,500 · Washington Mutual Fsb
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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