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Property profile & analytics
OFF-MARKET
Estimated value
$11,185,000
Garden apartment buildings
1835 Cheek Rd Durham, NC 27704-5077
Individually Owned
23-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-1958810
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2003
Total area
10,452 SF
Lot
7.57 ac (329,749 SF)
Zoning code
RS-M
APN
130137
UPID
US53-1958810
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
-
cruz web consulting Marketing & Advertising (Bike/Boat/Book/etc) Store
-
Oakley Square Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.71M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.34M
Blend (final)
Blend
$11.19M
Owner & transaction history
Oakley Square Ltd Ptnrp · 23 yrs held
Oakley Square Ltd Ptnrp
since 2002
Last sale
$11.3M
4 recorded transactions
Zoning & alternative use
RS-M · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Multifamilydevelopmentis permitted in areas designated RS-M, which should have convenient access to arterial streets and nearby civic, commercial or employment uses.
Zone name
Residential Suburban Multifamily
General category
CIVIC_INSTITUTIONAL
Zone area
2,204.72 ac
Source
Realmo
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 Durham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Durham 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
$15,370,000
ML approach
$10,710,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$11.19M
Range $10.07M – $12.30M · ±10% · vs last sale $11.25M (Jun 12 2020)
Last sale anchor
$11.25M
Jun 12 2020
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
$1,070 / 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
Assessed value
$4,596,714
Assessed 2023
Previous assessed
$4,596,714
+0.0% YoY
Assessed land
$1,000,000
Assessed improvement
$3,596,714
Land market value
$1,000,000
Improvement market value
$3,596,714
Total market value
$4,596,714
Applied tax rate
1.0000
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
2003
Heating
ELECTRIC
Cooling
YES
Stories
2
Total area
10,452 SF
Lot
7.57 ac (329,749 SF)
Zoning code
RS-M
APN
130137
UPID
US53-1958810
Jurisdiction
DURHAM
Zoning & alternative use
RS-M · Durham, NCZoning RS-M · permitted uses
RS-M · Durham, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Multifamilydevelopmentis permitted in areas designated RS-M, which should have convenient access to arterial streets and nearby civic, commercial or employment uses.
Zone name
Residential Suburban Multifamily
General category
CIVIC_INSTITUTIONAL
Zone area
2,204.72 ac
Source
Realmo
Building & site characteristics
From public records
Year built
2003
Heating
ELECTRIC
Cooling
Yes
Stories
2
Lot
7.57 ac
Current owner
From public records · entity-resolved
Oakley Square Ltd Ptnrp
Individual
Mailing address
1700 7TH AVE #2000, SEATTLE, WA 98101-1397
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 12, 2020
—
Oakley Square Hsng Ptrs LP
—
Deed
related
$8,890,000 · Colliers Funding LLC
Dec 6, 2002
$1,850,000
Oakley Square Ltd Ptnrp
Cheek Rd Ltd Ptn
Grant Deed
—
—
—
Oakley Square LP
—
Deed Of Trust
related
$4,633,500 · Berkadia Commercial Mortgage
—
—
Oakley Square Hsng Ptrs LP
—
Deed Of Trust
related
$8,890,000 · Colliers Funding LLC
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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