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Property profile & analytics
OFF-MARKET
Estimated value
$4,475,000
Apartment buildings
7635 3rd SE Way Olympia, WA 98503-1520
Entity Owned
1-yr Hold
Property ID
US90-2283931
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2022
Total area
16,146 SF
Lot
8.44 ac (367,646 SF)
APN
1181-42-20302
UPID
US90-2283931
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
$4.72M
CAP Approach
CAP
$3.12M
Comparable Approach
Comparable
$3.59M
Blend (final)
Blend
$4.48M
Owner & transaction history
Glencrest Lacey Spe LLC · 1 yrs held
Glencrest Lacey Spe LLC
since 2024
Last sale
$4.4M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Olympia submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Olympia 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
$4,335,000
ML approach
$4,715,000
CAP Approach
CAP Return
Estimation
6%
$3,375,000
6.5%
$3,115,000
7%
$2,890,000
Alternative Use
Use
Estimation
RETAIL STORES
$6,870,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$4.48M
Range $4.03M – $4.92M · ±10% · vs last sale $4.43M (Aug 13 2021)
Last sale anchor
$4.43M
Aug 13 2021
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
$277 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$181,902
Tax year 2023
Assessed value
$18,579,300
Assessed 2022
Previous assessed
$766,000
+2,325.5% YoY
Effective rate
0.98%
On assessed value
Assessed land
$4,667,800
Assessed improvement
$13,911,500
Land market value
$4,667,800
Improvement market value
$13,911,500
Total market value
$18,579,300
Applied tax rate
239.0000
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
2022
Heating
NONE
Cooling
YES
Buildings
11
Total area
16,146 SF
Lot
8.44 ac (367,646 SF)
APN
1181-42-20302
UPID
US90-2283931
Jurisdiction
THURSTON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$6.9M
RETAIL STORES
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
2022
Heating
NONE
Cooling
Yes
Buildings
11
Lot
8.44 ac
Current owner
From public records · entity-resolved
Glencrest Lacey Spe LLC
Entity
Mailing address
1201 PACIFIC AVE STE #1200, TACOMA, WA 98402-4395
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 30, 2024
—
Glencrest Lacey Spe LLC
Tanglewilde LLC
Bargain And Sale Deed
$27,675,000 · Prime Finance Short Duration Holdin
Aug 13, 2021
$4,425,000
Tanglewilde LLC
Tanglewilde Apts LLC
Warranty Deed
$3,000,000 · Tanglewilde Apts LLC
Jan 10, 2020
$599,157
Tanglewilde Apts LLC
Tanglewilde LP
Warranty Deed
—
Jun 18, 1996
—
Tanglewilde LP
Thompson,alvin H & Evelyn L
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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