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    2500 157Th Ave Portland, OR 97236
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    2500 157Th Ave Portland, OR 97236

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    • Apartment buildings
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    Value Estimations
    Cap Rate Potential
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    Current Use by Public Records

    • RjswildwoodsandthingsLlc / Department Store / Grocery & Convenience Store

    Property Details for 2500 157Th Ave

    Year built
    1973
    Property type
    Apartment buildings

    Description

    Exceptional value-add opportunity in Portland's desirable Centennial neighborhood. This 48-unit apartment building, constructed in 1973 and renovated in 2022, presents a compelling investment prospect. The property comprises sixteen one-bedroom/one-bathroom units and thirty-two two-bedroom/one-bathroom units, totaling 36,320 square feet of rentable space. Current rents average $1,264 for one-bedroom and $1,482 for two-bedroom units, representing approximately 9.4% and 7% below market rates respectively, indicating significant upside potential for rental income growth. The property boasts a 6.35% cap rate and a pro-forma cap rate of 7.38%, with a current NOI of $526,940 and a pro-forma NOI of $612,594. Desirable amenities include a swimming pool, on-site leasing office, ample parking, and air conditioning in each unit. The units feature luxury vinyl tile flooring and granite countertops. The property's location offers convenient access to shopping, dining, and recreational areas such as Powell Butte Nature Park. The low vacancy rate of 4.7% in the Centennial neighborhood, coupled with its proximity to major employers and its position within the Centennial School District, contributes to strong tenant demand and a stable rental base. The property is zoned HR2 and is offered at $8,300,000, or $172,917 per unit. This represents a rare opportunity to acquire a well-maintained, value-add multifamily property in a thriving Portland submarket with substantial potential for increased profitability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.502
    Latitude
    45.5039

    Comparable in this City

    • Value Estimation by Request
      0.88 Acres

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    • Value Estimation
      $1,950,000
      12,257 SF

      13320 Wi Se Powell Blvd

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    • Value Estimation
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      17910 Division St

      APARTMENT HOUSE (5+ UNITS) • 3,864 SF
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    • Value Estimation
      $1,220,000
      4,784 SF

      16641 Powell Blvd

      APARTMENT HOUSE (5+ UNITS) • 4,784 SF
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    • Value Estimation
      $3,980,000
      23,336 SF

      17025 Powell Blvd, Unit 17129

      APARTMENT HOUSE (5+ UNITS) • 23,336 SF
      17025 Powell Blvd, Portland, OR 97236-1751
      View Details
    • Value Estimation
      $4,425,000
      21,664 SF

      17420 Powell Blvd, Unit 17476

      APARTMENT HOUSE (5+ UNITS) • 21,664 SF
      17420 Powell Blvd, Portland, OR 97236-1341
      View Details

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      Portland Multifamily Investment Opportunity

      48-unit apartment complex in Portland's Centennial neighborhood, renovated in 2022.
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      Portland Multifamily Investment Opportunity

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      2500 SE 157Th Ave, Portland, OR 97236
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    Similar Nearby for Lease

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    Portland, OR 97236
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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