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Property profile & analytics
OFF-MARKET
Estimated value
$5,640,000
Apartment buildings
607 Pattison SE St Olympia, WA 98501-2068
Entity Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-0982983
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2017
Construction
WOOD FRAME
Total area
29,391 SF
Lot
0.8 ac (34,848 SF)
APN
3420-22-00200
UPID
US90-0982983
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
-
Drexel House Hotel & Motel Bed & Breakfast
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.67M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.64M
Owner & transaction history
City Of Olympia · 8 yrs held
City Of Olympia
since 2017
5 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$6,145,000
6.5%
$5,670,000
7%
$5,265,000
Blend value · Realmo final
$5.64M
Range $5.08M – $6.20M · ±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
$192 / 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
$10
Tax year 2023
Assessed value
$10,076,200
Assessed 2022
Previous assessed
$4,232,600
+138.1% YoY
Effective rate
0.00%
On assessed value
Assessed land
$428,700
Assessed improvement
$9,647,500
Land market value
$428,700
Improvement market value
$9,647,500
Total market value
$10,076,200
Applied tax rate
110.0000
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
2017
Construction
WOOD FRAME
Heating
YES
Cooling
YES
Stories
4
Total area
29,391 SF
Lot
0.8 ac (34,848 SF)
APN
3420-22-00200
UPID
US90-0982983
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
2017
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Stories
4
Lot
0.8 ac
Current owner
From public records · entity-resolved
City Of Olympia
Entity
Free & Clear · 8 yrs held
Mailing address
100 23RD AVE S, SEATTLE, WA 98144-2302
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 24, 2017
—
City Of Olympia
Devoe II Housing LLC
Grant Deed
related
—
Apr 5, 2016
—
Devoe II Housing LLC
Catholic Cmnty Svcs Of Wstn Wa
Grant Deed
$6,899,874 · Keybank USA
Feb 27, 2015
$135,500
Catholic Cmnty Svcs Of Wstn Wa
Gerard Matthew P & Jennifer J
Warranty Deed
—
Mar 24, 2011
$70,000
Matthew P Gerard
Mcconkey,rod
Warranty Deed
—
May 8, 2007
—
Rodney Mcconkey
Mcconkey,judith E
Quit Claim Deed
related
—
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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