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Property profile & analytics
OFF-MARKET
Estimated value
$2,315,000
Apartment buildings
5704 183rd E Ave 5710, Lake Tapps, WA 98391-8979
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-1582855
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1991
Construction
WOOD FRAME
Total area
3,492 SF
Lot
2.25 ac (98,010 SF)
Zoning code
R10
APN
520217013
UPID
US90-1582855
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
$2.30M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.55M
Blend (final)
Blend
$2.32M
Owner & transaction history
5704 Bonney Lake LLC · 2 yrs held
5704 Bonney Lake LLC
since 2023
Last sale
$2.7M
7 recorded transactions
Zoning & alternative use
R10 · Lake Tapps, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.5M
+37.3%
Neighborhood: shopping center
$1.5M
+36.6%
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 Lake Tapps submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Tapps 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
$2,280,000
ML approach
$2,295,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,495,000
Change: +37% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,490,000
Change: +37% · Conversion: Difficult
Blend value · Realmo final
$2.32M
Range $2.08M – $2.55M · ±10% · vs last sale $2.72M (Sep 28 2023)
Last sale anchor
$2.72M
Sep 28 2023
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
$663 / 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
$28,478
Tax year 2024
Assessed value
$2,633,900
Assessed 2024
Previous assessed
$2,633,900
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$1,671,900
Assessed improvement
$962,000
Land market value
$1,671,900
Improvement market value
$962,000
Total market value
$2,633,900
Applied tax rate
378.0000
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
1991
Construction
WOOD FRAME
Heating
FLOOR/WALL FURNACE
Cooling
WALL UNIT
Buildings
4
Stories
2
Units
3
Total area
3,492 SF
Lot
2.25 ac (98,010 SF)
Zoning code
R10
APN
520217013
UPID
US90-1582855
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
R10 · Lake Tapps, WA
Zoning R10 · permitted uses
R10 · Lake Tapps, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Tapps. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.5M
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
1991
Construction
WOOD FRAME
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
2
Buildings
4
Units
3
Lot
2.25 ac
Current owner
From public records · entity-resolved
5704 Bonney Lake LLC
Entity
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 28, 2023
$2,720,000
5704 Bonney Lake LLC
Eagle Crest Investments LLC
Warranty Deed
$1,875,000 · First Fed Bank
Mar 10, 2020
—
Eagle Crest Investments LLC
Mercer Jean K Trust
Quit Claim Deed
related
—
Jun 11, 2018
$2,000,000
Mercer,jean K Trust
Hood Eaglecrest Invs LLC
Warranty Deed
$995,000 · Harborstone Cu
Jul 20, 2007
$1,316,000
Hood Eaglecrest Investments LLC
Ballew Properties LLC
Warranty Deed
$724,820 · Boeing Employees Cu
Jul 31, 2003
$1,000,000
Ballew Properties LLC
Eagle Crest Apartments
Grant Deed
$702,307 · Heritage Savings Bank Fsb
Jul 31, 2003
—
Eagle Crest Apartments
Murdoch,tr
Quit Claim Deed
related
—
Nov 30, 1995
—
Eagle Crest Apartments
Meridian Terrace Apartments
Quit Claim Deed
related
$500,000 · Washington Mutual Fsb
Mar 31, 1992
$387,411
Meridian Terrace Apartments
Unknown
Quit Claim Deed
related
—
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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