New search
Property profile & analytics
OFF-MARKET
Estimated value
$51,335,000
Apartment buildings
1315 Orch Hts NW Rd, Salem, OR 97304-2365
Entity Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US71-1334533
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
2018
Total area
325,042 SF
Lot
16.86 ac (734,422 SF)
Zoning code
RM1
APN
07316-C0-00102
UPID
US71-1334533
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
$55.31M
Comparable Approach
Comparable
$64.54M
Blend (final)
Blend
$51.34M
Owner & transaction history
Orchard Heights Apartments LLC · 8 yrs held
Orchard Heights Apartments LLC
since 2018
7 recorded transactions
Zoning & alternative use
RM1 · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$85.2M
+68.6%
Retail stores
$80.1M
+58.4%
Warehouse, storage
$63.2M
+25.1%
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 Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salem 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%
$59,920,000
6.5%
$55,310,000
7%
$51,360,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$50,545,000
Current use
COMMERCIAL (GENERAL)
$85,235,000
Change: +69% · Conversion: Moderate
RETAIL STORES
$80,070,000
Change: +58% · Conversion: Difficult
WAREHOUSE, STORAGE
$63,220,000
Change: +25% · Conversion: Difficult
Blend value · Realmo final
$51.34M
Range $46.20M – $56.47M · ±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
$158 / 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
$667,361
Tax year 2023
Assessed value
$35,409,410
Assessed 2023
Previous assessed
$34,378,070
+3.0% YoY
Effective rate
1.88%
On assessed value
Assessed land
$2,988,720
Assessed improvement
$32,420,690
Land market value
$2,688,260
Improvement market value
$61,976,390
Total market value
$64,664,650
Applied tax rate
3,201.0000
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 (100+ UNITS)
Status
Off-Market
Year built
2018
Heating
NONE
Buildings
30
Total area
325,042 SF
Lot
16.86 ac (734,422 SF)
Zoning code
RM1
APN
07316-C0-00102
UPID
US71-1334533
Jurisdiction
POLK
Zoning & alternative use
RM1 · Salem, OR
Zoning RM1 · permitted uses
RM1 · Salem, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salem. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$50.5M
COMMERCIAL (GENERAL)
Est. value
$85.2M
RETAIL STORES
Est. value
$80.1M
WAREHOUSE, STORAGE
Est. value
$63.2M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
RETAIL STORES
WAREHOUSE, STORAGE
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
2018
Heating
NONE
Buildings
30
Lot
16.86 ac
Current owner
From public records · entity-resolved
Orchard Heights Apartments LLC
Entity
Free & Clear · 8 yrs held
Mailing address
1101 SE TECH CTR DR STE #160, VANCOUVER, WA 98683-5521
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
18 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 9, 2020
—
Orchard Heights Apartments LLC
—
Deed
related
$49,289,000 · Cbre Multifamily Cap
Feb 7, 2019
—
Orchard Heights Apartments LLC
—
Grant Deed
related
$31,917,300 · Wells Fargo Bk
Jun 14, 2018
—
Orchard Heights Apartments LLC
—
Deed
related
$5,000,000 · Gordon Michael & L F/tr (pt)
Feb 2, 2018
—
Orchard Heights Apartments LLC
Cottonwood Dev LLC
Warranty Deed
related
—
Sep 19, 2016
—
Cottonwood Dev LLC
Alkhafajis Cottonwood Land Ll
Quit Claim Deed
related
—
Jul 18, 2016
—
Alkhafajis Cottonwood Land
—
Trustees Deed
related
$30,000 · William H & Marilyn Bensink
Jan 20, 2011
$285,246
Cottonwood Land Alkhafajis
West Salem Senior Living Prop
Grant Deed
$285,246 · Sunwest Ent
Jun 3, 2008
$175,000
Owner Name Unavailable
West Salem Senior Lvg Prop LLC
Warranty Deed
related
—
Mar 5, 2008
$50,000
Owner Name Unavailable
West Salem Senior Lvg Prop LLC
Warranty Deed
related
—
Mar 5, 2008
$198,000
Owner Name Unavailable
West Salem Senior Lvg Prop LLC
Warranty Deed
related
—
Jan 2, 2008
$400,000
Owner Name Unavailable
West Salem Senior Lvg Prop LLC
Warranty Deed
related
—
Jan 2, 2008
$125,000
Owner Name Unavailable
West Salem Senior Lvg Prop LLC
Warranty Deed
related
—
Jan 2, 2008
$57,654
Owner Name Unavailable
West Salem Senior Lvg Prop LLC
Warranty Deed
related
—
Jan 2, 2008
$192,243
Owner Name Unavailable
West Salem Senior Lvg Prop LLC
Warranty Deed
related
—
Nov 5, 2007
$294,368
Owner Name Unavailable
West Salem Senior Living Prop
Warranty Deed
related
—
Oct 2, 2007
$3,536,000
Salem Senior Living Prop West
Ja & Cb Lindbeck Family
Warranty Deed
$3,000,000 · Ja&cb Lindbeck Family-limite
—
—
Orchard Heights Apartments LLC
—
Deed Of Trust
related
$5,000,000 · Gordon Michael & L F/tr (pt)
—
—
Orchard Heights Apartments LLC
—
Deed Of Trust
related
$49,289,000 · Cbre Multifamily Cap
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1315 Orch Hts NW Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
