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Property profile & analytics
FOR SALE
Apartment buildings
801 Martin Luther King Jr Way Tacoma, WA 98405
Entity Owned
~
Est. High Equity
Property ID
US90-0112468
No photos on file
For Sale
$975,000
801 Martin Luther King Jr Way, Tacoma, WA 98405
View Listing →
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1931
Construction
WOOD FRAME
Total area
5,064 SF
Lot
0.07 ac (3,250 SF)
Zoning code
NCX
APN
2008210010
UPID
US90-0112468
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
by Request
CAP Approach
CAP
$890k
Comparable Approach
Comparable
$751k
Blend (final)
Blend
$880k
Owner & transaction history
Arl Holdings LLC
Arl Holdings LLC
since 2025
Last sale
$940,000
4 recorded transactions
Zoning & alternative use
NCX · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.2M
+33.0%
Commercial (general)
$1.1M
+20.5%
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 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)
$930,000
Current use
MEDICAL BUILDING
$1,240,000
Change: +33% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,125,000
Change: +21% · Conversion: Moderate
Blend value · Realmo final
$880k
Range $792k – $968k · ±10% · vs last sale $940k (Dec 2 2025)
Last sale anchor
$940k
Dec 2 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
$174 / 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
$10,768
Tax year 2024
Assessed value
$968,400
Assessed 2024
Previous assessed
$968,400
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$158,700
Assessed improvement
$809,700
Land market value
$158,700
Improvement market value
$809,700
Total market value
$968,400
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
For Sale
Year built
1931
Construction
WOOD FRAME
Heating
HOT WATER
Stories
3
Units
7
Total area
5,064 SF
Lot
0.07 ac (3,250 SF)
Zoning code
NCX
APN
2008210010
UPID
US90-0112468
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
NCX · Tacoma, WA
Zoning NCX · permitted uses
NCX · 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
$930,000
MEDICAL BUILDING
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
1931
Construction
WOOD FRAME
Heating
HOT WATER
Stories
3
Units
7
Lot
0.07 ac
Current owner
From public records · entity-resolved
Arl Holdings LLC
Entity
Mailing address
11520 3RD AVE NW, SEATTLE, WA 98177-4718
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 2, 2025
$940,000
Arl Holdings LLC
801 Mlk LLC
Warranty Deed
$705,000 · Seattle Metropolitan Cu
Apr 7, 2021
—
801 Mlk LLC
—
Deed
related
$927,500 · Pacific Crest Savings Bank
Jul 1, 2019
$840,000
801 Mlk LLC
Lowry,john E & Lucy A
Warranty Deed
$630,000 · Patrick & Nancy Mccabe
Oct 16, 2003
$282,852
John E Lowry
Candoo,alex D & Lila J
Grant Deed
$194,352 · Alex D & Lila J Candoo
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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