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Property profile & analytics
OFF-MARKET
Estimated value
$8,980,000
Apartment buildings
1025 Neil NE St Olympia, WA 98516-5554
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1108750
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1978
Construction
WOOD FRAME
Total area
6,584 SF
Lot
4.19 ac (182,516 SF)
APN
1181-51-20600
UPID
US90-1108750
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
-
Savannah Manor Apartments Apartment Building Apartment Complex
-
Ashton Apartments Apartment Complex
-
Exterior Shine Roofing Company General Contractor
-
Ari’s Sweet Arts Buffet
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.10M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.98M
Owner & transaction history
Olympia 56 Ipm LLC · 4 yrs held
Olympia 56 Ipm LLC
since 2021
Last sale
$9.0M
3 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
$8,820,000
ML approach
$9,100,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$8.98M
Range $8.08M – $9.88M · ±10% · vs last sale $9.00M (Dec 6 2021)
Last sale anchor
$9.00M
Dec 6 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
$1,364 / 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
$94,428
Tax year 2023
Assessed value
$9,570,100
Assessed 2022
Previous assessed
$4,730,700
+102.3% YoY
Effective rate
0.99%
On assessed value
Assessed land
$1,807,900
Assessed improvement
$7,762,200
Land market value
$1,807,900
Improvement market value
$7,762,200
Total market value
$9,570,100
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
1978
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
WALL UNIT
Stories
2
Bathrooms
6
Total area
6,584 SF
Lot
4.19 ac (182,516 SF)
APN
1181-51-20600
UPID
US90-1108750
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
Building & site characteristics
From public records
Year built
1978
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
Yes
Stories
2
Bathrooms
6
Lot
4.19 ac
Current owner
From public records · entity-resolved
Olympia 56 Ipm LLC
Entity
Mailing address
1311 N 79TH ST, SEATTLE, WA 98103-4845
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 6, 2021
$9,000,000
Olympia 56 Ipm LLC
Prm Property Management LLC
Warranty Deed
$8,240,000 · Washington Federal NA
Feb 27, 2004
$2,460,000
Prm Property Mgmt LLC
Nahon,jonathan & Jane B
Grant Deed
$1,621,500 · Rainier Pacific Bank
Aug 8, 1991
$1,700,000
Jonathan Nahon
Unknown
Grant Deed
—
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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