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Property profile & analytics
OFF-MARKET
Estimated value
$1,885,000
Apartment buildings
608 39th SW Ave Puyallup, WA 98373-5903
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-1037053
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1996
Construction
WOOD FRAME
Total area
10,180 SF
Lot
8.86 ac (385,942 SF)
Zoning code
RM-20
APN
419091066
UPID
US90-1037053
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
-
Willow Springs Apartments Apartment Complex
-
Released to See Photography & Videography Photography Service (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.90M
Comparable Approach
Comparable
$1.17M
Blend (final)
Blend
$1.89M
Owner & transaction history
Willow Diamond LLC · 5 yrs held
Willow Diamond LLC
since 2020
5 recorded transactions
Zoning & alternative use
RM-20 · Puyallup, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.0M
+52.0%
Medical building
$2.8M
+43.5%
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 Puyallup submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Puyallup 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%
$2,055,000
6.5%
$1,895,000
7%
$1,760,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,950,000
Current use
COMMERCIAL (GENERAL)
$2,960,000
Change: +52% · Conversion: Moderate
MEDICAL BUILDING
$2,795,000
Change: +43% · Conversion: Moderate
Blend value · Realmo final
$1.89M
Range $1.70M – $2.07M · ±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
$185 / 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
$415,323
Tax year 2024
Assessed value
$42,066,600
Assessed 2024
Previous assessed
$42,066,600
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$8,884,500
Assessed improvement
$33,182,100
Land market value
$8,884,500
Improvement market value
$33,182,100
Total market value
$42,066,600
Applied tax rate
96.0000
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
1996
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
11
Stories
1
Units
10
Total area
10,180 SF
Lot
8.86 ac (385,942 SF)
Zoning code
RM-20
APN
419091066
UPID
US90-1037053
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
RM-20 · Puyallup, WA
Zoning RM-20 · permitted uses
RM-20 · Puyallup, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Puyallup. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$3.0M
MEDICAL BUILDING
Est. value
$2.8M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
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
1996
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
11
Units
10
Lot
8.86 ac
Current owner
From public records · entity-resolved
Willow Diamond LLC
Entity
Mailing address
522 W RIVERSIDE AVEN, SPOKANE, WA 99201-0580
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
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
Aug 31, 2021
—
Willow Diamond LLC
—
Deed
related
$21,330,000 · Orix Real Estate Capital LLC
Nov 9, 2020
—
Willow Diamond LLC
C Y Tang Gordon
Grant Deed
—
Jan 31, 2018
—
C Y Tang Gordon
Willow Springs Apartments LLP
Special Warranty Deed
$10,000,000 · Jpmorgan Chase Bank NA
Apr 16, 2012
—
Willow Springs Apartments LLP
—
Deed Of Trust
related
$11,400,000 · Love Funding Corp
Dec 10, 2001
—
Willow Springs Apartments LLP
Puyallup City (wa)
Grant 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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