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Apolis

Deal: Oak Ridge Apartments, 200 unitsPage: Comps

Sales comps

Sample

Recent sales of comparable stabilized apartment buildings, against the model's exit cap.

Sample sales with no real name, address or buyer.

Median price per unit
$327,439
$294,898 to $380,645
Median cap rate
5.45%
5.10% to 5.80%
Model exit cap
5.50%
5 bp above median6 of 10 sales at or under it
Implied value per unit at exit
$399,913
forward NOI at sale, Jan 2037

Cap rate at sale against the exit cap

Each dot is a sale. The dashed line is the model's exit cap.

Cap rate at sale · comp median

5.45%

Model exit 5.50%
Range 5.10% to 5.80%. 6 of 10 sales at or under it.

Every sale

Open a row for the building and the record slots.

  • Model exit
    $399,913
    Jan 2037, 5.50% cap, 200 units, $79,982,598, $447 per SF
  • Sample sale 1 Sample
    $360,000
    Sep 2026, 5.25% cap, 240 units, built 2019, $86,400,000, $404 per SF, Institutional fund, 0.63 mi
  • Sample sale 2 Sample
    $325,000
    Jun 2026, 5.40% cap, 180 units, built 2017, $58,500,000, $375 per SF, Private REIT, 0.76 mi
  • Sample sale 3 Sample
    $380,645
    Mar 2026, 5.10% cap, 310 units, built 2021, $118,000,000, $423 per SF, Institutional fund, 2.0 mi
  • Sample sale 4 Sample
    $310,000
    Dec 2025, 5.65% cap, 150 units, built 2016, $46,500,000, $363 per SF, Private syndicator, 3.9 mi
  • Sample sale 5 Sample
    $350,000
    Oct 2025, 5.35% cap, 220 units, built 2020, $77,000,000, $399 per SF, Pension fund adviser, 2.3 mi
  • Sample sale 6 Sample
    $320,313
    Jul 2025, 5.55% cap, 128 units, built 2018, $41,000,000, $380 per SF, Local operator, 1.3 mi
  • Sample sale 7 Sample
    $370,000
    Apr 2025, 5.20% cap, 275 units, built 2022, $101,750,000, $414 per SF, Institutional fund, 2.2 mi
  • Sample sale 8 Sample
    $294,898
    Jan 2025, 5.80% cap, 196 units, built 2015, $57,800,000, $340 per SF, Private syndicator, 4.3 mi
  • Sample sale 9 Sample
    $329,878
    Oct 2024, 5.50% cap, 164 units, built 2019, $54,100,000, $381 per SF, 1031 exchange buyer, 0.18 mi
  • Sample sale 10 Sample
    $310,345
    Jun 2024, 5.70% cap, 232 units, built 2017, $72,000,000, $351 per SF, Private REIT, 4.1 mi
Method and sources cap rate basis, the exit value, what replaces the samples

Cap rate at sale is in-place NOI over price, as the sale record states it. Per unit and per SF divide price by units and by net rentable square feet. Medians: $327,439 per unit, $380 per SF, 5.45% cap.

The model exits in Jan 2037 on forward NOI of $4,399,043 at a 5.50% cap: $79,982,598, or $399,913 a unit. Comp prices are at their sale dates, so per unit figures are not trended to the exit year.

Every sale is a sample with no real name, address, buyer or seller, from Jun 2024 to Sep 2026, until recorded deeds or broker sale records are attached.