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Property profile & analytics
OFF-MARKET
Estimated value
$4,005,000
Apartment buildings
5731 Orch W St Tacoma, WA 98467-3832
Entity Owned
23-yr Hold
~
Est. High Equity
Property ID
US90-0986494
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1975
Construction
WOOD FRAME
Total area
24,624 SF
Lot
2 ac (87,120 SF)
Zoning code
T
APN
220234178
UPID
US90-0986494
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
-
Willie's Home Garage Clothing Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.34M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.01M
Owner & transaction history
Park I Joint Venture Aspen · 23 yrs held
Park I Joint Venture Aspen
since 2002
7 recorded transactions
Zoning & alternative use
T · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
T: Transitional District The Transitional District is intended to serve as a transition between commercial or industrial areas and residential areas. The area is characterized by lower traffic generation, shorter operation hours, smaller scale buildings and less signage than general commercial areas. Permitted uses include small- scale office space, daycares…
Zone name
Transitional
General category
CIVIC_INSTITUTIONAL
Zone area
54.77 ac
Source
Ordinance Table
Top alternative use upside
Medical building
$6.0M
+18.2%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$4,700,000
6.5%
$4,340,000
7%
$4,030,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$5,100,000
Current use
MEDICAL BUILDING
$6,025,000
Change: +18% · Conversion: Moderate
Blend value · Realmo final
$4.01M
Range $3.60M – $4.41M · ±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
$163 / 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
$129,731
Tax year 2024
Assessed value
$11,679,100
Assessed 2024
Previous assessed
$11,679,100
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,441,600
Assessed improvement
$10,237,500
Land market value
$1,441,600
Improvement market value
$10,237,500
Total market value
$11,679,100
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
1975
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
3
Units
36
Total area
24,624 SF
Lot
2 ac (87,120 SF)
Zoning code
T
APN
220234178
UPID
US90-0986494
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
T · Tacoma, WAZoning T · permitted uses
T · Tacoma, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
T: Transitional District The Transitional District is intended to serve as a transition between commercial or industrial areas and residential areas. The area is characterized by lower traffic generation, shorter operation hours, smaller scale buildings and less signage than general commercial areas. Permitted uses include small- scale office space, daycares, schools, parks, religious facilities, grou p housing, and retirement homes. The maximum building height in this district is 35 feet.
Zone name
Transitional
General category
CIVIC_INSTITUTIONAL
Zone area
54.77 ac
Source
Ordinance Table
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$5.1M
MEDICAL BUILDING
Est. value
$6.0M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
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
1975
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
2
Units
36
Lot
2 ac
Current owner
From public records · entity-resolved
Park I Joint Venture Aspen
Entity
Mailing address
PO BOX 111088, TACOMA, WA 98411-1088
Ownership since
2002
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
May 30, 2019
—
Aspen Park 1 LLC
—
Deed
related
$9,500,000 · Boeing Emps Cu
Dec 18, 2002
—
Park I Joint Venture Aspen
Aspen Park II Joint Venture
Quit Claim Deed
related
$5,300,000 · Evertrust Bank
May 11, 1993
$1,405,514
Amberwood Joint Venture
Unknown
Grant Deed
—
—
—
Aspen Park 1 LLC
—
Deed Of Trust
related
$9,500,000 · Boeing Emps Cu
—
—
Aspen Park I LLC
—
Deed Of Trust
related
$8,325,000 · Opus Bank
—
—
Aspen Park I LLC
—
Deed Of Trust
related
$7,700,000 · Union Bank Of California
—
—
Park I Joint Venture Aspen
—
Deed Of Trust
related
$300,000 · Pierce Commercial Bank
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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