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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    9009 Hosmer St Tacoma, WA 98444-1809

    • Apartment buildings
    • 9,408 SF
    • 0.40 lot acres
    OFF-MARKET
    Value Estimations
    $1,135,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0853112
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Aladdin Townhomes / Apartment Complex

    Property Details for 9009 Hosmer St

    Year built
    1972
    Construction
    WOOD FRAME
    Lot size
    0.40 lot acres
    Property size
    9,408 SF
    Zone code
    R3
    Property type
    Apartment buildings
    APN
    4530600171
    APU
    4530600171

    Description

    This exceptional value-add opportunity presents a 32-unit apartment building, known as Aladdin Townhomes, situated on a 1.68-acre lot in Tacoma, Washington. The property consists of four, two-story buildings totaling 37,664 square feet of net rentable space, offering a compelling mix of spacious two-bedroom townhome-style units averaging 1,177 square feet. Currently boasting a 6.03% cap rate and a $376,827 NOI, the property presents significant upside potential. A recent unit renovation demonstrated a $200 monthly rent premium with an upgrade cost under $14,000, indicating substantial room for rent increases across the remaining units. The property features 68 parking spaces and is conveniently located less than two miles from South Tacoma Village, offering abundant shopping and dining options. Its proximity to Joint Base Lewis-McChord (JBLM) further enhances its appeal. The asking price is $6,250,000, translating to $195,312.50 per unit and $165.94 per square foot. A pro-forma analysis projects a 7.41% cap rate and a $463,364 NOI, highlighting the significant potential for increased profitability. The property's APN is 453060-0-110, 453060-0-120, 453060-0-130, 453060-0-140, 453060-0-150, 453060-0-160, & 453060-0-171. This property is also available for purchase alongside a neighboring 79-unit apartment complex. Built in 1972, this property offers a strong foundation for a savvy investor seeking immediate rental upside and long-term growth.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.463
    Latitude
    47.1751
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $17,370
    $419,300
    $1,143,500
    $1,562,800
    -
    $419,300
    $1,143,500
    $1,562,800

    Comparable in this City

    • Value Estimation
      $1,345,000
      11,520 SF

      9020 Hosmer St

      APARTMENT HOUSE (100+ UNITS) • 11,520 SF
      9020 Hosmer St, Tacoma, WA 98444-1818
      View Details
    • Value Estimation
      $955,000
      8,704 SF

      9031 Hosmer St

      APARTMENT HOUSE (5+ UNITS) • 8,704 SF
      9031 Hosmer St, Tacoma, WA 98444-1815
      View Details
    • Value Estimation
      $895,000
      9,566 SF

      111 129th S St, Unit 121

      APARTMENT HOUSE (5+ UNITS) • 9,566 SF
      111 129th S St, Tacoma, WA 98444-5096
      View Details
    • Value Estimation
      $1,440,000
      12,736 SF

      1762 108th S St

      APARTMENT HOUSE (5+ UNITS) • 12,736 SF
      1762 108th S St, Tacoma, WA 98444-7017
      View Details
    • Value Estimation
      $1,260,000
      8,568 SF

      126 121st S St

      APARTMENT HOUSE (5+ UNITS) • 8,568 SF
      126 121st S St, Tacoma, WA 98444-5102
      View Details
    • Value Estimation
      $2,215,000
      4,320 SF

      15008 A S St

      APARTMENT HOUSE (5+ UNITS) • 4,320 SF
      15008 A S St, Tacoma, WA 98444-4689
      View Details

    Similar Nearby for Sale

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      Tacoma Investment Property Opportunity

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    • New
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      Mixed-Use Multifamily Investment Opportunity

      Value-add mixed-use multifamily property with income and long-term flexibility.
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    Similar Nearby for Lease

    • $18 SF/Yr
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      Tacoma Office Space Available

      2,405 sq ft Traditional Office Suite
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      View Details
    • Contact for pricing
      273,816 SF

      Tacoma Industrial Flex Space

      Modern warehouse/office space, flexible options.
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      View Details
    • $22 SF/Yr
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      Retail Space with QFC Anchor

      Retail space anchored by QFC with high traffic.
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    • Contact for pricing
      4,800 SF

      Tacoma Specialty Property for Rent

      4,800 SF specialty property available for rent in Tacoma.
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    • $8,000 /Mo
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      Former Auto Parts Store Available

      Auto shop with parking, yard, and highway access.
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    • $6 SF/Yr
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      Tacoma Executive Office Suites

      Prime Tacoma location, multiple suites available.
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      View Details
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    Tacoma, WA 98444-1809
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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