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    128 162nd Ave Portland, OR 97233-3829

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    128 162nd Ave Portland, OR 97233-3829

    View on Map
    • Apartment buildings
    • 17,729 SF
    • 1.20 lot acres
    Off-Market
    Property ID
    US71-0884228
    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.
    Value Estimations
    $3,200,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Village Square / Apartment Complex

    Property Details for 128 162nd Ave

    Year built
    1964
    Lot size
    1.20 lot acres
    Property size
    17,729 SF
    Zone code
    SC
    Property type
    Apartment buildings
    APN
    1N3E31CC 01400
    APU
    1N3E31CC01400

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,201,000
      Market price range: $2.34M - $4.72M
      AI Estimate
      $3,201,000
      Market price range: $2.34M - $4.72M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $3,490,000
      Current use
      OFFICE BUILDING
      $5,125,000
      Change: +47% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $4,640,000
      Change: +33% Conversion: Moderate
      RETAIL STORES
      $4,290,000
      Change: +23% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.496
    Latitude
    45.5213
    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
    $22,743
    $0.00
    $0.00
    $1,304,830
    -
    $626,160
    $2,296,270
    $2,922,430

    Comparable in this City

    • Value Estimation
      $3,995,000
      24,520 SF

      239 148th Ave, Unit 281

      APARTMENT HOUSE (5+ UNITS) • 24,520 SF
      239 148th Ave, Portland, OR 97233-2870
      View Details
    • Value Estimation
      $2,015,000
      7,560 SF

      216 162nd Ave

      APARTMENT HOUSE (5+ UNITS) • 7,560 SF
      216 162nd Ave, Portland, OR 97233-3831
      View Details
    • Value Estimation
      $780,000
      3,983 SF

      14153 Wi E Burnside St

      APARTMENT HOUSE (5+ UNITS) • 3,983 SF
      14153 Wi E Burnside St, Portland, OR 97233
      View Details
    • Value Estimation
      $3,060,000
      23,120 SF

      18411 Wi E Burnside St

      APARTMENT HOUSE (5+ UNITS) • 23,120 SF
      18411 Wi E Burnside St, Portland, OR 97233
      View Details
    • Value Estimation
      $24,575,000
      102,241 SF

      12636 Alder St

      APARTMENT HOUSE (5+ UNITS) • 102,241 SF
      12636 Alder St, Portland, OR 97233-1680
      View Details
    • Value Estimation
      $1,245,000
      5,928 SF

      213 192nd Ave

      APARTMENT HOUSE (5+ UNITS) • 5,928 SF
      213 192nd Ave, Portland, OR 97233-5985
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      19,551 SF

      New Carbon-Neutral Multifamily Community

      32-unit, fully leased, carbon-neutral multifamily property in desirable location.
      16111 E Burnside St, Gresham, OR 97233
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    • $3,290,000

      East Portland Apartment Complex

      25-unit apartment complex in East Portland with convenient access.
      14455 E Burnside St, Portland, OR 97233
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    • Contact for pricing
      73,271 SF

      70-Unit Apartment Complex

      2007-built apartment complex with diverse unit mix.
      2333 SE 130Th Ave, Portland, OR 97233
      View Details
    • New
      $599,900
      0.48 Acres

      Dividable Lot with Cash Flow

      Rare 0.48-acre lot with cash flow in Portland.
      501 SE 157Th Ave, Portland, OR 97233
      View Details
    • $875,000
      4,516 SF

      Portland Multifamily Investment Opportunity

      Meticulously maintained multifamily property with stable rental income potential.
      2431 SE 141St Ave, Portland, OR 97233
      View Details
    • New
      $599,900
      3,503 SF

      Portland Triplex on Large Lot

      Triplex with development potential in Portland's Centennial neighborhood.
      501 SE 157Th Ave, Portland, OR 97233
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      24,400 SF

      Industrial Space with Loading Dock

      Industrial space featuring a loading dock, parking, and signage.
      621 SE 202Nd Ave, Portland, OR 97233
      View Details
    • Contact for pricing
      1,947 SF

      Walk-Up Offices with Natural Light

      Professionally managed office space near Mall 205.
      1515 SE 122Nd Ave, Portland, OR 97233
      View Details
    • Contact for pricing
      650 SF

      Office Space For Rent

      650 square feet office space available for rent.
      12255 SW Main St, Portland, OR 97233
      View Details
    • Contact for pricing

      Retail Space in Gresham Center

      Retail space available in community-focused Gresham shopping center.
      451 NE 181St Ave, Portland, OR 97233
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      Retail space available for lease in Portland, Oregon.
      12250 SE Division St, Portland, OR 97233
      View Details
    • $21 SF/Yr
      2,453 SF

      Shell Condition Office Space

      Office space for rent with signage and parking available.
      13908 SE Stark St, Portland, OR 97233
      View Details
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    128 162nd Ave
    Portland, OR 97233-3829
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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.

    More about this property
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