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Property profile & analytics
OFF-MARKET
Estimated value
$3,455,000
Apartment buildings
181 12th Ave Hillsboro, OR 97123
Entity Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US71-1780028
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Total area
15,485 SF
Lot
1 ac (43,560 SF)
Zoning code
SCR-HD
APN
1N231DD-06901
UPID
US71-1780028
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
by Request
Comparable Approach
Comparable
$3.45M
Blend (final)
Blend
$3.46M
Owner & transaction history
Fourth Plain Investment LLC · 9 yrs held
Fourth Plain Investment LLC
since 2017
6 recorded transactions
Zoning & alternative use
SCR-HD · Hillsboro, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$4.9M
+43.0%
Restaurant
$4.7M
+35.8%
Commercial (general)
$4.0M
+14.6%
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 Hillsboro submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hillsboro 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,450,000
Current use
MEDICAL BUILDING
$4,935,000
Change: +43% · Conversion: Moderate
RESTAURANT
$4,690,000
Change: +36% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,955,000
Change: +15% · Conversion: Moderate
RETAIL STORES
$3,695,000
Change: +7% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,770,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$3.46M
Range $3.11M – $3.80M · ±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
$223 / 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
$21,076
Tax year 2023
Assessed value
$1,250,990
Assessed 2023
Previous assessed
$1,214,560
+3.0% YoY
Effective rate
1.68%
On assessed value
Land market value
$660,000
Improvement market value
$2,838,770
Total market value
$3,498,770
Applied tax rate
7.0000
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
Heating
NONE
Total area
15,485 SF
Lot
1 ac (43,560 SF)
Zoning code
SCR-HD
APN
1N231DD-06901
UPID
US71-1780028
Jurisdiction
WASHINGTON
Zoning & alternative use
SCR-HD · Hillsboro, OR
Zoning SCR-HD · permitted uses
SCR-HD · Hillsboro, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hillsboro. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$3.5M
MEDICAL BUILDING
Est. value
$4.9M
RESTAURANT
Est. value
$4.7M
COMMERCIAL (GENERAL)
Est. value
$4.0M
RETAIL STORES
Est. value
$3.7M
WAREHOUSE, STORAGE
Est. value
$2.8M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
RESTAURANT
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
Heating
NONE
Lot
1 ac
Current owner
From public records · entity-resolved
Fourth Plain Investment LLC
Entity
Mailing address
659 NW PACIFIC GRV DR, BEAVERTON, OR 97006-8377
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
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
Jan 10, 2017
$2,550,000
Fourth Plain Investment LLC
Fm Properties LLC
Warranty Deed
$940,000 · Jp Morgan Chase Bk
Jan 14, 2016
$2,040,000
Fm Properties LLC
Hermitage Partners LLC
Warranty Deed
$1,492,000 · Opus Bk
Aug 29, 2008
$1,470,000
Hermitage Partners LLC
Pettersen,roald & Robin
Warranty Deed
$995,000 · Industrial Alliance Pacific In
Oct 9, 1997
—
Roald E Pettersen
Web Service Company INC
Quit Claim Deed
related
$725,000 · First Security Bank
Oct 15, 1990
$785,000
Roald E Pettersen
Unknown
Grant Deed
—
—
—
Hermitage Partners LLC
—
Deed Of Trust
related
$975,000 · Umpqua 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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