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Property profile & analytics
OFF-MARKET
Estimated value
$7,130,000
Apartment buildings
1308 Cheltenham St, Portland, OR 97239-7019
Individually Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US71-0591822
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1993
Total area
18,048 SF
Lot
0.69 ac (30,130 SF)
Zoning code
R1DG
APN
1S1E16DC 06400
UPID
US71-0591822
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
$7.13M
Blend (final)
Blend
$7.13M
Owner & transaction history
Deniece Volker · 8 yrs held
Deniece Volker
since 2018
3 recorded transactions
Zoning & alternative use
R1DG · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.2M
+28.8%
Auto repair, garage
$5.5M
+14.8%
Medical building
$5.5M
+13.6%
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 Portland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Portland 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)
$4,800,000
Current use
RESTAURANT
$6,180,000
Change: +29% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,510,000
Change: +15% · Conversion: Difficult
MEDICAL BUILDING
$5,450,000
Change: +14% · Conversion: Moderate
RETAIL STORES
$5,420,000
Change: +13% · Conversion: Difficult
OFFICE BUILDING
$5,215,000
Change: +9% · Conversion: Moderate
COMMERCIAL (GENERAL)
$4,945,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$7.13M
Range $6.42M – $7.84M · ±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
$395 / 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
$72,028
Tax year 2023
Assessed value
$2,720,730
Assessed 2023
Previous assessed
$2,641,490
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$1,155,910
Improvement market value
$4,384,280
Total market value
$5,540,190
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 (5+ UNITS)
Status
Off-Market
Year built
1993
Heating
FORCED AIR
Buildings
3
Stories
2
Bathrooms
32
Total area
18,048 SF
Lot
0.69 ac (30,130 SF)
Zoning code
R1DG
APN
1S1E16DC 06400
UPID
US71-0591822
Jurisdiction
MULTNOMAH
Zoning & alternative use
R1DG · Portland, OR
Zoning R1DG · permitted uses
R1DG · Portland, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Portland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$4.8M
RESTAURANT
Est. value
$6.2M
AUTO REPAIR, GARAGE
Est. value
$5.5M
MEDICAL BUILDING
Est. value
$5.5M
RETAIL STORES
Est. value
$5.4M
OFFICE BUILDING
Est. value
$5.2M
COMMERCIAL (GENERAL)
Est. value
$4.9M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
Year built
1993
Heating
FORCED AIR
Stories
2
Buildings
3
Bathrooms
32
Lot
0.69 ac
Current owner
From public records · entity-resolved
Deniece Volker
Individual
Mailing address
8615 SW 8TH AVE, PORTLAND, OR 97219-4554
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 7, 2018
—
Deniece Volker
—
Deed
related
$50,000 · Unitus Cmnty Cu
—
—
Properties Close
—
Deed Of Trust
related
$250,000 · Wells Fargo Bank
—
—
Deniece Volker
—
Deed Of Trust
related
$50,000 · Unitus Cmnty Cu
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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