11012 Stark St Portland, OR 97216-3388
Property Lookup
Property profile & analytics
11012 Stark St Portland, OR 97216-3388
- Apartment buildings
- 11,040 SF
- 0.40 lot acres
Property ID
US71-1719393
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Apartment buildings
Property Details for 11012 Stark St
- Year built
- 2008
- Lot size
- 0.40 lot acres
- Property size
- 11,040 SF
- Zone code
- R1D
- Property type
- Apartment buildings
- APN
- 1S2E03BA 06900
- APU
- 1S2E03BA06900
Description
This exceptional 13-unit apartment building, known as Gables on Stark, presents a compelling investment opportunity in Portland, Oregon. Built in 2008, this Class B multifamily property boasts 17,524 square feet situated on a 0.4-acre lot (APN: 1S2E03BA 6900). Each of the 13 units offers substantial living space at 1,348 square feet, featuring two bedrooms, two and a half bathrooms, and an attached garage. The units are well-appointed with full kitchens including hard surface counters, wood-look flooring and carpeting, private decks, and washer/dryer hookups. Heating is provided by efficient forced-air furnaces. The property's strong financial performance is highlighted by a current NOI of $200,446, resulting in a 5.50% cap rate and a pro-forma cap rate of 6.17%. The asking price is $3,250,000, translating to $250,000 per unit and $185 per square foot. Located at 11012 SE Stark St, Portland, OR 97216, this property benefits from a highly convenient location, less than half a mile from I-205 and within walking distance of major employers like Home Depot and Target, as well as numerous national retailers and restaurants. The proximity to three city parks, including the 7.7-acre Floyd Light City Park, adds to the property's appeal. Current rents are below market, offering significant potential for increased revenue. The energy-efficient construction, including vinyl windows, further enhances the investment value. This property represents a rare opportunity to acquire a well-located, newer construction multifamily asset with substantial upside potential.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,925,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,365,000
- 6.5%
- $2,180,000
- 7%
- $2,025,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,498,000
- AI Estimate
- $2,498,000
Market price range: $1.76M - $4.36MMarket price range: $1.76M - $4.36M -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $2,935,000 Current use
- RESTAURANT
- $3,780,000 Change: +29% Conversion: Difficult
- AUTO REPAIR, GARAGE
- $3,370,000 Change: +15% Conversion: Difficult
- MEDICAL BUILDING
- $3,335,000 Change: +14% Conversion: Moderate
- RETAIL STORES
- $3,315,000 Change: +13% Conversion: Difficult
- OFFICE BUILDING
- $3,190,000 Change: +9% Conversion: Moderate
- COMMERCIAL (GENERAL)
- $3,180,000 Change: +8% Conversion: Moderate
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Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Multnomah
- State
- Oregon
- Longitude
- -122.55
- Latitude
- 45.5186
- CBSA code
- 38900
- CBSA name
- PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$21,540
$0.00
$0.00
$916,470
-
$438,600
$2,634,520
$3,073,120
