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Property profile & analytics
OFF-MARKET
Estimated value
$8,030,000
Apartment buildings
6000 Drake St Hillsboro, OR 97123-8677
Individually Owned
10-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US71-0524380
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1950
Total area
36,885 SF
Lot
2.41 ac (104,980 SF)
Zoning code
MFR-2
APN
1S210BD-00500
UPID
US71-0524380
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
$8.03M
Blend (final)
Blend
$8.03M
Owner & transaction history
Ian S Gross · 10 yrs held
Ian S Gross
since 2015
6 recorded transactions
Zoning & alternative use
MFR-2 · Hillsboro, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$11.8M
+43.0%
Restaurant
$11.2M
+35.8%
Commercial (general)
$9.4M
+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)
$8,225,000
Current use
MEDICAL BUILDING
$11,760,000
Change: +43% · Conversion: Moderate
RESTAURANT
$11,165,000
Change: +36% · Conversion: Difficult
COMMERCIAL (GENERAL)
$9,425,000
Change: +15% · Conversion: Moderate
RETAIL STORES
$8,805,000
Change: +7% · Conversion: Difficult
WAREHOUSE, STORAGE
$6,590,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$8.03M
Range $7.23M – $8.83M · ±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
$218 / 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
$48,991
Tax year 2023
Assessed value
$2,907,900
Assessed 2023
Previous assessed
$2,823,210
+3.0% YoY
Effective rate
1.68%
On assessed value
Land market value
$1,100,000
Improvement market value
$8,518,860
Total market value
$9,618,860
Applied tax rate
29.0000
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
1950
Heating
NONE
Total area
36,885 SF
Lot
2.41 ac (104,980 SF)
Zoning code
MFR-2
APN
1S210BD-00500
UPID
US71-0524380
Jurisdiction
WASHINGTON
Zoning & alternative use
MFR-2 · Hillsboro, OR
Zoning MFR-2 · permitted uses
MFR-2 · 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
$8.2M
MEDICAL BUILDING
Est. value
$11.8M
RESTAURANT
Est. value
$11.2M
COMMERCIAL (GENERAL)
Est. value
$9.4M
RETAIL STORES
Est. value
$8.8M
WAREHOUSE, STORAGE
Est. value
$6.6M
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
Year built
1950
Heating
NONE
Lot
2.41 ac
Current owner
From public records · entity-resolved
Ian S Gross
Individual
Mailing address
1800 SW 1ST AVE STE #220, PORTLAND, OR 97201-5326
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
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
Sep 30, 2015
—
Ian S Gross
Johnson Street Properties LLC
Grant Deed
related
—
Dec 2, 2003
$2,725,000
Johnson Street Properties LLC
Tew Family LLC
Grant Deed
—
Nov 30, 1994
$245,000
Chris E Tew
Hill,james E & Heide K
Grant Deed
—
Oct 16, 1990
$65,000
James E Hill
Schmidt,elmer T
Grant Deed
$50,000 · Schmidt Elmer T
—
—
Johnson Street Properties LLC
—
Deed Of Trust
related
$2,040,000 · Citibank Fsb
—
—
Johnson Street Properties LLC
—
Deed Of Trust
related
$1,850,000 · 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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