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Property profile & analytics
OFF-MARKET
Estimated value
$800,000
Apartment buildings
612 Tacoma S Ave Tacoma, WA 98402-2334
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US90-0457544
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2018
Construction
WOOD FRAME
Total area
5,060 SF
Lot
0.15 ac (6,500 SF)
Zoning code
DR
APN
2006120020
UPID
US90-0457544
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
-
The Crafty Beaver Bar Bar & Pub
-
David Foster Architects Architect
-
612 Lofts Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$890k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$800k
Owner & transaction history
Kaiser Development Company LLC · 8 yrs held
Kaiser Development Company LLC
since 2017
7 recorded transactions
Zoning & alternative use
DR · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.2M
+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%
$965,000
6.5%
$890,000
7%
$830,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,050,000
Current use
MEDICAL BUILDING
$1,240,000
Change: +18% · Conversion: Moderate
Blend value · Realmo final
$800k
Range $720k – $880k · ±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
$158 / 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
$8,931
Tax year 2024
Assessed value
$3,715,600
Assessed 2024
Previous assessed
$3,715,600
+0.0% YoY
Effective rate
0.24%
On assessed value
Assessed land
$529,300
Assessed improvement
$3,186,300
Land market value
$529,300
Improvement market value
$3,186,300
Total market value
$3,715,600
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 (5+ UNITS)
Status
Off-Market
Year built
2018
Construction
WOOD FRAME
Heating
FLOOR/WALL FURNACE
Cooling
WALL UNIT
Buildings
3
Stories
4
Units
6
Total area
5,060 SF
Lot
0.15 ac (6,500 SF)
Zoning code
DR
APN
2006120020
UPID
US90-0457544
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
DR · Tacoma, WA
Zoning DR · permitted uses
DR · Tacoma, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tacoma. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.2M
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
2018
Construction
WOOD FRAME
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
4
Buildings
3
Units
6
Lot
0.15 ac
Current owner
From public records · entity-resolved
Kaiser Development Company LLC
Entity
Mailing address
612 TACOMA AVE S UNIT #302, TACOMA, WA 98402-2336
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 20, 2019
—
Kaiser Develoment Compny LLC
—
Deed
related
$2,500,000 · First Sec Bk/wa
Sep 29, 2017
—
Kaiser Development Company LLC
David J Foster
Quit Claim Deed
related
$1,990,000 · Anchor Bank
Jul 19, 2016
$200,000
David J Foster
Tacoma Ave Condos LLC
Warranty Deed
$150,000 · Private Individual
Oct 28, 2005
$262,500
Tacoma Ave Condos LLC
Johnson,charles R II & Elizabeth A
Warranty Deed
—
Dec 18, 2003
$190,000
Charles R Johnson
Citifinancial INC
Grant Deed
$150,000 · Northstar Bank
May 13, 2003
$103,200
Citifinancial INC
Ferguson,ben
Trustees Deed
related
—
Nov 19, 1999
$334,477
Ben Ferguson
Plath,timothy W
Grant Deed
$194,541 · Associates Financial Services
Jan 26, 1996
$165,000
Timothy W Flath
Eldridge,philip L & Lois M
Grant Deed
$140,000 · Seller
Mar 16, 1994
—
Philip J Eldridge
Capital Support
Quit Claim Deed
related
—
May 7, 1992
$135,000
Seacoast Fin Ltd
Unknown
Grant Deed
$49,950 · Seller
—
—
Kaiser Develoment Compny LLC
—
Deed Of Trust
related
$2,500,000 · First Sec Bk/wa
—
—
Philip J Eldridge
—
Deed Of Trust
related
$50,000 · West One Bank Washington
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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