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Property profile & analytics
OFF-MARKET
Estimated value
$56,310,000
Apartment buildings
6595 Cherry Dr Hillsboro, OR 97124-7739
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US71-1164801
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Total area
316,786 SF
Lot
4.23 ac (184,259 SF)
Zoning code
SCC-SC
APN
1N234AA-01000
UPID
US71-1164801
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
$56.31M
Blend (final)
Blend
$56.31M
Owner & transaction history
Tessera Owner LLC · 7 yrs held
Tessera Owner LLC
since 2018
4 recorded transactions
Zoning & alternative use
SCC-SC · Hillsboro, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The SCC-SC zone implements the Station Community Planning Area Comprehensive Plan designation, providing opportunity to locate high intensity commercial and community service Uses in close proximity less than 1300 feet to light rail stations outside downtown
Zone name
Station Community Commercial Station Commercial
General category
COMMERCIAL
Zone area
41.04 ac
Source
Realmo
Top alternative use upside
Retail stores
$75.6M
+7.1%
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 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)
$70,625,000
Current use
RETAIL STORES
$75,625,000
Change: +7% · Conversion: Difficult
WAREHOUSE, STORAGE
$56,620,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$56.31M
Range $50.68M – $61.94M · ±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
$178 / 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
$327,806
Tax year 2023
Assessed value
$19,457,130
Assessed 2023
Previous assessed
$18,890,420
+3.0% YoY
Effective rate
1.68%
On assessed value
Land market value
$8,419,490
Improvement market value
$126,055,540
Total market value
$134,475,030
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
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Status
Off-Market
Heating
NONE
Buildings
2
Total area
316,786 SF
Lot
4.23 ac (184,259 SF)
Zoning code
SCC-SC
APN
1N234AA-01000
UPID
US71-1164801
Jurisdiction
WASHINGTON
Zoning & alternative use
SCC-SC · Hillsboro, ORZoning SCC-SC · permitted uses
SCC-SC · Hillsboro, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The SCC-SC zone implements the Station Community Planning Area Comprehensive Plan designation, providing opportunity to locate high intensity commercial and community service Uses in close proximity less than 1300 feet to light rail stations outside downtown
Zone name
Station Community Commercial Station Commercial
General category
COMMERCIAL
Zone area
41.04 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$70.6M
RETAIL STORES
Est. value
$75.6M
WAREHOUSE, STORAGE
Est. value
$56.6M
APARTMENT HOUSE (5+ UNITS) Current
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
Buildings
2
Lot
4.23 ac
Current owner
From public records · entity-resolved
Tessera Owner LLC
Entity
Mailing address
701 5TH AVE STE #5700, SEATTLE, WA 98104-7014
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 6, 2018
$85,000,000
Tessera Owner LLC
Orenco Hillsboro Wrap Investor
Grant Deed
$54,000,000 · Cbre Cap Markets
Jul 10, 2015
—
Orenco Hillsboro Wrap Investor LLC
Orenco Hillsboro Wrap Investor LLC
Intrafamily Transfer
related
$50,115,000 · Principal Life Insurance Company
Oct 5, 2012
$3,040,000
Orenco Hillsboro Wrap LP
Pacific Realty Associates LP
Grant Deed
$33,045,000 · National Bank Arizona
—
—
Orenco Hillsboro Wrap LP
—
Deed Of Trust
related
$2,672,515 · Miscellaneous Govt Agcy
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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