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Property profile & analytics
OFF-MARKET
Estimated value
$820,000
Apartment buildings
86 Ira Lgt St, Steilacoom, WA 98388-1659
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US90-0670972
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1975
Construction
WOOD FRAME
Total area
5,728 SF
Lot
3.3 ac (143,748 SF)
Zoning code
MULTIFAMIL
APN
220322007
UPID
US90-0670972
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
$565k
CAP Approach
CAP
$1.07M
Comparable Approach
Comparable
$832k
Blend (final)
Blend
$820k
Owner & transaction history
Ira Light LLC · 14 yrs held
Ira Light LLC
since 2012
7 recorded transactions
Zoning & alternative use
MULTIFAMIL · Steilacoom, WA
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 Steilacoom submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Steilacoom 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
$565,000
CAP Approach
CAP Return
Estimation
6%
$1,155,000
6.5%
$1,065,000
7%
$990,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,350,000
Current use
Blend value · Realmo final
$820k
Range $738k – $902k · ±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
$143 / 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
$74,762
Tax year 2024
Assessed value
$8,695,100
Assessed 2024
Previous assessed
$8,695,100
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$5,140,500
Assessed improvement
$3,554,600
Land market value
$5,140,500
Improvement market value
$3,554,600
Total market value
$8,695,100
Applied tax rate
115.0000
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
1975
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
8
Stories
2
Units
10
Total area
5,728 SF
Lot
3.3 ac (143,748 SF)
Zoning code
MULTIFAMIL
APN
220322007
UPID
US90-0670972
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
MULTIFAMIL · Steilacoom, WA
Zoning MULTIFAMIL · permitted uses
MULTIFAMIL · Steilacoom, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Steilacoom. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS) Current
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
1975
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
8
Units
10
Lot
3.3 ac
Current owner
From public records · entity-resolved
Ira Light LLC
Entity
Mailing address
PO BOX 111088, TACOMA, WA 98411-1088
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 30, 2021
—
Ira Light LLC
—
Deed
related
$6,400,000 · Pacific Premier Bank
Jul 31, 2017
—
Ira Light LLC
—
Deed
related
$4,907,500 · Opus Bk
Apr 19, 2012
—
Ira Light LLC
Bess Co INC
Quit Claim Deed
related
—
May 11, 1994
$1,750,000
Bess Co
Sh Partnership
Grant Deed
$54,314 · Seller
Sep 6, 1991
$1,644,559
Landmark Associates Ltd Ptn
Unknown
Grant Deed
—
—
—
Bess Co INC
—
Deed Of Trust
related
$2,475,000 · Citibank Fsb
—
—
Bess Co INC
—
Deed Of Trust
related
$1,528,000 · American Marine Bank
—
—
Ira Light LLC
—
Deed Of Trust
related
$3,750,000 · Opus Bank
—
—
Ira Light LLC
—
Deed Of Trust
related
$4,907,500 · Opus Bk
—
—
Bess Co INC
—
Deed Of Trust
related
$1,915,000 · Evertrust 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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