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Property profile & analytics
OFF-MARKET
Estimated value
$4,355,000
Apartment buildings
1524 Sumner St, Portland, OR 97217-3672
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US71-1771206
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2020
Total area
11,047 SF
Lot
0.11 ac (5,000 SF)
Zoning code
EX
APN
1N1E21AA 13300
UPID
US71-1771206
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
Current use
Occupant on record · Public records
-
Enko Properties Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.36M
Blend (final)
Blend
$4.36M
Owner & transaction history
Pacific Multifamily III LLC · 4 yrs held
Pacific Multifamily III LLC
since 2021
7 recorded transactions
Zoning & alternative use
EX · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.5M
+43.2%
Restaurant
$3.8M
+20.4%
Auto repair, garage
$3.4M
+7.4%
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)
$3,140,000
Current use
COMMERCIAL (GENERAL)
$4,495,000
Change: +43% · Conversion: Moderate
RESTAURANT
$3,785,000
Change: +20% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,375,000
Change: +7% · Conversion: Difficult
MEDICAL BUILDING
$3,335,000
Change: +6% · Conversion: Moderate
RETAIL STORES
$3,315,000
Change: +6% · Conversion: Difficult
OFFICE BUILDING
$3,195,000
Change: +2% · Conversion: Moderate
Blend value · Realmo final
$4.36M
Range $3.92M – $4.79M · ±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
$394 / 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
$39,629
Tax year 2023
Assessed value
$1,495,500
Assessed 2023
Previous assessed
$1,540,760
-2.9% YoY
Effective rate
2.65%
On assessed value
Land market value
$500,000
Improvement market value
$3,476,250
Total market value
$3,976,250
Applied tax rate
201.0000
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
2020
Heating
FORCED AIR
Stories
1
Bathrooms
2
Total area
11,047 SF
Lot
0.11 ac (5,000 SF)
Zoning code
EX
APN
1N1E21AA 13300
UPID
US71-1771206
Jurisdiction
MULTNOMAH
Zoning & alternative use
EX · Portland, OR
Zoning EX · permitted uses
EX · 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
$3.1M
COMMERCIAL (GENERAL)
Est. value
$4.5M
RESTAURANT
Est. value
$3.8M
AUTO REPAIR, GARAGE
Est. value
$3.4M
MEDICAL BUILDING
Est. value
$3.3M
RETAIL STORES
Est. value
$3.3M
OFFICE BUILDING
Est. value
$3.2M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
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
2020
Heating
FORCED AIR
Stories
1
Bathrooms
2
Lot
0.11 ac
Current owner
From public records · entity-resolved
Pacific Multifamily III LLC
Entity
Mailing address
133 E SAINT JOSEPH ST, ARCADIA, CA 91006-2852
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 3, 2021
—
Pacific Multifamily III LLC
Alpina Properties LLC
Warranty Deed
—
Aug 31, 2020
—
Alpina Properties LLC
—
Deed Of Trust
related
$2,669,500 · Sound Equity High Income Debt
Jul 5, 2019
—
Alpina Properties LLC
Alpina Properties LLC
Quit Claim Deed
related
$2,400,000 · Sound Equity High Income Debt
Nov 23, 2016
$390,000
Alpina Properties LLC
Lewis,jeffrey
Warranty Deed
$292,500 · Wadot Cap
Mar 29, 2012
$280,500
Jeffrey Lewis
Schaub,allison
Warranty Deed
$273,388 · USA Direct Funding
Oct 22, 2003
$235,000
Allison Schaub
Wheeler,catherine D
Grant Deed
$175,000 · Northwest Mortgage Group INC
May 30, 2003
—
Catherine D Wheeler
Cooper,catherine D
Grant Deed
$175,500 · Mortgage Market
Jun 2, 2000
$174,000
Michael T Cooper
Pena,catherine A
Grant Deed
$139,200 · Accubanc Mortgage Corp
Aug 24, 1995
$108,000
Catherine A Pena
Biber,john A
Grant Deed
$104,750 · Medallion Mortgage Co
Mar 17, 1995
$48,500
John A Biber
Howie,gary D
Grant Deed
—
—
—
Michael T Cooper
—
Deed Of Trust
related
$148,000 · Mortgage Market
—
—
Michael T Cooper
—
Deed Of Trust
related
$18,500 · Mortgage Market
—
—
Catherine A Pena
—
Deed Of Trust
related
$13,000 · Gb Home Equity
—
—
Catherine A Pena
—
Deed Of Trust
related
$26,675 · Us Bank
—
—
Catherine A Pena
—
Deed Of Trust
related
$122,250 · Standard Federal Bank
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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