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    1311 Gibbs St Portland, OR 97239-3039
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    Property profile & analytics

    1311 Gibbs St Portland, OR 97239-3039

    View on Map
    • Apartment buildings
    • 42,151 SF
    • 0.54 lot acres
    Off-Market
    Property ID
    US71-0618011
    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
    $6,705,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • The Woods on Marquam Hill / Apartment Complex
    • Landing Furnished Apts at The Woods on Marquam Hill / Hotel & Motel

    Property Details for 1311 Gibbs St

    Year built
    2022
    Lot size
    0.54 lot acres
    Property size
    42,151 SF
    Property type
    Apartment buildings
    APN
    1S1E09BD 02801
    APU
    1S1E09BD02801

    Description

    This exceptional Class A, 43-unit apartment building presents a compelling investment opportunity in Portland, Oregon's desirable Marquam Hill neighborhood. Completed in 2024, the property boasts 42,151 square feet of gross building area situated on a 23,500 square foot lot. The unit mix includes studios, one-bedroom, and two-bedroom apartments, offering a diverse range of living spaces. The building features 28 covered parking spaces and attractive amenities such as a secured entry and an exterior sundeck. Priced at $12,500,000 ($290,698 per unit), this property offers a strong 5.41% capitalization rate. Its prime location offers convenient access to Oregon Health & Science University (OHSU), the Under Armour Portland campus, downtown Portland, and Portland State University, ensuring high occupancy rates in a supply-constrained submarket. Select units enjoy beautiful views. The thoughtfully designed floor plans maximize space and natural light. This is a truly exceptional multifamily investment opportunity in a thriving urban setting.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,702,000
      Market price range: $6.70M - $16.7M
      AI Estimate
      $6,702,000
      Market price range: $6.70M - $16.7M

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.694
    Latitude
    45.4994
    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
    $17,535
    $0.00
    $0.00
    $662,350
    -
    $1,007,750
    $707,560
    $1,715,310

    Comparable in this City

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      42,547 SF

      3460 Us Veterans Hospital Rd

      APARTMENT HOUSE (5+ UNITS) • 42,547 SF
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      View Details
    • Value Estimation
      $4,920,000
      16,046 SF

      329 Whitaker St

      APARTMENT HOUSE (5+ UNITS) • 16,046 SF
      329 Whitaker St, Portland, OR 97239-4681
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    • Value Estimation
      $13,990,000
      35,409 SF

      3158 12th Ave

      APARTMENT HOUSE (5+ UNITS) • 35,409 SF
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    • Value Estimation
      $5,065,000
      20,421 SF

      3211 10th Ave

      APARTMENT HOUSE (5+ UNITS) • 20,421 SF
      3211 10th Ave, Portland, OR 97239-3073
      View Details
    • Value Estimation
      $10,135,000
      45,472 SF

      4820 Barbur Blvd

      APARTMENT HOUSE (5+ UNITS) • 45,472 SF
      4820 Barbur Blvd, Portland, OR 97239-2872
      View Details
    • Value Estimation
      $35,090,000
      220,655 SF

      3850 Bond Ave

      APARTMENT HOUSE (5+ UNITS) • 220,655 SF
      3850 Bond Ave, Portland, OR 97239-4838
      View Details

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    • New
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    Similar Nearby for Lease

    • Contact for pricing

      Office Space Available For Lease

      Office space for lease in Portland, Oregon.
      3207 SW 1St Ave, Portland, OR 97239
      View Details
    • Contact for pricing
      1,737 SF

      Office Space Available For Rent

      Office space available for lease in Portland, Oregon.
      6420 SW Macadam Ave, Portland, OR 97239
      View Details
    • Contact for pricing

      Johns Landing Office Space Available

      Office space for lease in desirable Johns Landing location.
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    • Contact for pricing
      10,089 SF

      Warehouse with Bow Truss Ceiling

      Single-story warehouse with mezzanine, high ceilings, and excellent visibility.
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    • Contact for pricing
      1,615 SF

      Office Space Available For Rent

      Office space available for lease in Portland, Oregon.
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      View Details
    • Contact for pricing
      890 SF

      Renovated Office Space with Atrium

      Recently updated office space with high-end finishes and amenities.
      5550 SW Macadam Ave, Portland, OR 97239
      View Details
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    Portland, OR 97239-3039
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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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