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Property profile & analytics
OFF-MARKET
Estimated value
$775,000
Apartment buildings
8206 Locust E Ave Sumner, WA 98391-7004
Individually Owned
3-yr Hold
Property ID
US90-0353223
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1977
Construction
FRAME
Total area
3,116 SF
Lot
0.7 ac (30,637 SF)
Zoning code
R2
APN
5640000133
UPID
US90-0353223
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
-
Black Berry Bush Park Park
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$805k
CAP Approach
CAP
$580k
Comparable Approach
Comparable
$656k
Blend (final)
Blend
$775k
Owner & transaction history
Julia Shuman · 3 yrs held
Julia Shuman
since 2023
Last sale
$915,000
6 recorded transactions
Zoning & alternative use
R2 · Sumner, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.1M
+17.7%
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 Sumner submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sumner 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
$765,000
ML approach
$805,000
CAP Approach
CAP Return
Estimation
6%
$630,000
6.5%
$580,000
7%
$540,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$975,000
Current use
AUTO REPAIR, GARAGE
$1,145,000
Change: +18% · Conversion: Difficult
RETAIL STORES
$955,000
Change: -2% · Conversion: Difficult
WAREHOUSE, STORAGE
$930,000
Change: -4% · Conversion: Difficult
MEDICAL BUILDING
$855,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$775k
Range $698k – $853k · ±10% · vs last sale $915k (Apr 6 2023)
Last sale anchor
$915k
Apr 6 2023
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
$249 / 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
$7,460
Tax year 2024
Assessed value
$734,100
Assessed 2024
Previous assessed
$734,100
+0.0% YoY
Effective rate
1.02%
On assessed value
Assessed land
$228,700
Assessed improvement
$505,400
Land market value
$228,700
Improvement market value
$505,400
Total market value
$734,100
Applied tax rate
35.0000
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
1977
Construction
FRAME
Heating
BASEBOARD
Stories
2
Units
4
Bathrooms
4
Total area
3,116 SF
Lot
0.7 ac (30,637 SF)
Zoning code
R2
APN
5640000133
UPID
US90-0353223
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
R2 · Sumner, WA
Zoning R2 · permitted uses
R2 · Sumner, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sumner. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$975,000
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$955,000
WAREHOUSE, STORAGE
Est. value
$930,000
MEDICAL BUILDING
Est. value
$855,000
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
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
1977
Construction
FRAME
Heating
BASEBOARD
Stories
2
Units
4
Bathrooms
4
Lot
0.7 ac
Current owner
From public records · entity-resolved
Julia Shuman
Individual
Mailing address
2615 24TH ST SE, AUBURN, WA 98002-7054
Ownership since
2023
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
Apr 6, 2023
$915,000
Julia Shuman
Bartlett Four Plex LLC
Warranty Deed
$640,500 · Fairway Independent Mortgage Corp
Nov 13, 2006
—
Bartlett Four-plex LLC
Bartlett,walter J & Margaret A
Quit Claim Deed
related
—
Jul 2, 2003
—
Walter J Bartlett
Hud
Grant Deed
$196,000 · Loancity Com
Apr 10, 2003
—
Hud
Washington Mutual Fsb
Grant Deed
related
—
Dec 2, 2002
$251,115
Homeside Lending INC
Johnston,ralph R
Trustees Deed
related
—
Apr 4, 2001
$273,341
Ralph R Johnston
Petite,randall L & Gail A
Grant Deed
$231,318 · Apreva INC
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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