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Property profile & analytics
OFF-MARKET
Estimated value
$1,160,000
Apartment buildings
7409 Hl Ave, Gig Harbor, WA 98335-1210
Entity Owned
Property ID
US90-0312821
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1968
Construction
BRICK
Total area
3,300 SF
Lot
0.23 ac (10,000 SF)
Zoning code
R-2
APN
5240000111
UPID
US90-0312821
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
$1.13M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.16M
Owner & transaction history
Hill Avenue LLC
Hill Avenue LLC
since 2025
Last sale
$1.2M
6 recorded transactions
Zoning & alternative use
R-2 · Gig Harbor, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.4M
+80.5%
Auto repair, garage
$1.2M
+55.6%
Commercial (general)
$1.1M
+36.8%
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 Gig Harbor submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gig Harbor 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
$1,090,000
ML approach
$1,130,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$780,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,405,000
Change: +81% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,215,000
Change: +56% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,065,000
Change: +37% · Conversion: Moderate
RETAIL STORES
$1,010,000
Change: +30% · Conversion: Difficult
WAREHOUSE, STORAGE
$985,000
Change: +26% · Conversion: Difficult
MEDICAL BUILDING
$905,000
Change: +16% · Conversion: Moderate
Blend value · Realmo final
$1.16M
Range $1.04M – $1.28M · ±10% · vs last sale $1.21M (Dec 15 2025)
Last sale anchor
$1.21M
Dec 15 2025
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
$352 / 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
$7,968
Tax year 2024
Assessed value
$939,400
Assessed 2024
Previous assessed
$939,400
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$416,600
Assessed improvement
$522,800
Land market value
$416,600
Improvement market value
$522,800
Total market value
$939,400
Applied tax rate
75.0000
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
1968
Construction
BRICK
Heating
BASEBOARD
Stories
2
Units
4
Bathrooms
4
Total area
3,300 SF
Lot
0.23 ac (10,000 SF)
Zoning code
R-2
APN
5240000111
UPID
US90-0312821
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
R-2 · Gig Harbor, WA
Zoning R-2 · permitted uses
R-2 · Gig Harbor, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gig Harbor. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$780,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
RETAIL STORES
Est. value
$1.0M
WAREHOUSE, STORAGE
Est. value
$985,000
MEDICAL BUILDING
Est. value
$905,000
APARTMENT HOUSE (5+ UNITS) Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
WAREHOUSE, STORAGE
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
1968
Construction
BRICK
Heating
BASEBOARD
Stories
2
Units
4
Bathrooms
4
Lot
0.23 ac
Current owner
From public records · entity-resolved
Hill Avenue LLC
Entity
Mailing address
6915 SUNSET VW DR NW, GIG HARBOR, WA 98332-8638
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 15, 2025
$1,214,000
Hill Avenue LLC
Kimberly Nordi
Warranty Deed
—
Dec 21, 2021
$1,100,000
Kimberly Nordi
Ali A Shokri
Warranty Deed
$825,000 · Fairway Independent Mortgage Corp
Dec 21, 2021
—
Kimberly Nordi
Joseph Nordi
Intrafamily Transfer
related
—
Dec 1, 1999
$296,667
Ali A Shokri
Hughes,michael W & Carol N
Grant Deed
$204,000 · Washington Mutual Fsb
—
—
Ali A Shokri
—
Deed Of Trust
related
$200,049 · Washington Mutual Fsb
—
—
Michael W Hughes
—
Deed Of Trust
related
$97,000 · Kitsap 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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