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Property profile & analytics
OFF-MARKET
Estimated value
$3,715,000
Apartment buildings
18411 Burnside St, Portland, OR 97233-5350
Individually Owned
10-yr Hold
~
Est. High Equity
Property ID
US71-0877065
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1964
Construction
FRAME
Total area
23,120 SF
Lot
0.36 ac (15,694 SF)
Zoning code
RTC
APN
1N3E32CC 02100
UPID
US71-0877065
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
$3.72M
Blend (final)
Blend
$3.72M
Owner & transaction history
David Grey · 10 yrs held
David Grey
since 2016
6 recorded transactions
Zoning & alternative use
RTC · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$6.1M
+33.0%
Retail stores
$5.6M
+23.0%
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)
$4,550,000
Current use
COMMERCIAL (GENERAL)
$6,050,000
Change: +33% · Conversion: Moderate
RETAIL STORES
$5,595,000
Change: +23% · Conversion: Difficult
Blend value · Realmo final
$3.72M
Range $3.34M – $4.09M · ±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
$161 / 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
$26,395
Tax year 2023
Assessed value
$1,514,320
Assessed 2023
Previous assessed
$1,470,220
+3.0% YoY
Effective rate
1.74%
On assessed value
Land market value
$188,330
Improvement market value
$2,843,600
Total market value
$3,031,930
Applied tax rate
901.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
1964
Construction
FRAME
Heating
NONE
Stories
2
Units
30
Total area
23,120 SF
Lot
0.36 ac (15,694 SF)
Zoning code
RTC
APN
1N3E32CC 02100
UPID
US71-0877065
Jurisdiction
MULTNOMAH
Zoning & alternative use
RTC · Portland, OR
Zoning RTC · permitted uses
RTC · 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
$4.6M
COMMERCIAL (GENERAL)
Est. value
$6.1M
RETAIL STORES
Est. value
$5.6M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
RETAIL STORES
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
1964
Construction
FRAME
Heating
NONE
Stories
2
Units
30
Lot
0.36 ac
Current owner
From public records · entity-resolved
David Grey
Individual
Mailing address
1905 SW 257TH AVE, TROUTDALE, OR 97060-1964
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 4, 2016
$995,000
David Grey
Lincoln Ln Co
Grant Deed
—
Apr 4, 2016
—
David Grey
Bank Of The Cascades
Quit Claim Deed
related
—
Apr 4, 2016
$658,783
Smith & Grey LLC
David Grey
Special Warranty Deed
$1,400,000 · Bofi Federal Bank
Jul 22, 2005
$842,646
David Grey
Lincoln Loan
Grant Deed
$250,000 · Bank Of The Cascades
Jul 12, 2005
$54,051
Jeff Smith
Scott,bob L
Quit Claim Deed
related
—
—
—
David Grey
—
Deed Of Trust
related
$160,000 · August Mueller
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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