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    1905 29th Ave Portland, OR 97210-2201
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    Property profile & analytics

    1905 29th Ave, Portland, OR 97210-2201

    View on Map
    • Apartment buildings
    • 31,708 SF
    • 1.03 lot acres
    Off-Market
    Last Sale Dec 29, 2025
    Property ID
    US71-1805577
    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
    $7,745,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • The Macleay Apartments / Apartment Building
    • The Queer Counselor / Counselor

    Property Details for 1905 29th Ave

    Year built
    1966
    Lot size
    1.03 lot acres
    Zone code
    R1
    Property type
    Apartment buildings
    APN
    1N1E29DC 02600
    APU
    1N1E29DC02600

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 29, 2025 — Tudor Arms Properties LLC Macleay Park Apartments LLC Bargain & Sale Deed —
    Jan 9, 2020 — Macleay Park Apartments LLC — Deed · related $2.8M · Boeing Emps Cu
    Nov 30, 2018 — Macleay Park Apartments LLC — Deed · related $2.4M · Umpqua Bank
    Nov 1, 2018 — Macleay Park Apartments LLC Weston Inv Co Quit Claim Deed · related —
    Feb 9, 2009 — Macleay Park Apartments LLC Tudor Arms Properties LLC Warranty Deed · related —
    Feb 21, 2006 — Tudor Arms Apartments LLC Eec Holding Of Tudor Into Macleay Quit Claim Deed · related —
    Nov 29, 2005 $2,752,500 Eec Holding/tudor Into Macleay LLC Ocf Joseph E Weston Public Foundati Warranty Deed $1.7M · Washington Mutual Bank
    Sep 16, 2005 — Ocf Joseph E Weston Public Fou Weston Investment Co LLC Quit Claim Deed · related —
    Dec 30, 1999 — Oregon Community Foundation Weston,joseph E Grant Deed · related —
    Nov 23, 1999 — Joseph E Weston Weston Investment Co Quit Claim Deed · related —
    May 15, 1990 $47,000 Hein T Nguyen Darneille,patric Grant Deed $38k · Great Western Mortgage Co
    — — Macleay Park Apartments LLC — Deed Of Trust · related $2.8M · Boeing Emps Cu

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,747,000
      Market price range: $7.74M - $13.0M
      AI Estimate
      $7,747,000
      Market price range: $7.74M - $13.0M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $9,825,000
      Current use
      RESTAURANT
      $10,860,000
      Change: +11% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $10,545,000
      Change: +7% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $9,680,000
      Change: -1% Conversion: Difficult
      MEDICAL BUILDING
      $9,575,000
      Change: -3% Conversion: Moderate
      RETAIL STORES
      $9,520,000
      Change: -3% Conversion: Difficult
      OFFICE BUILDING
      $9,165,000
      Change: -7% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.712
    Latitude
    45.5363
    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
    $69,807
    $0.00
    $0.00
    $2,636,850
    -
    $6,481,500
    $3,561,560
    $10,043,060

    Comparable in this City

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      6,000 SF

      2356 Overton St, Unit 2364

      APARTMENT HOUSE (5+ UNITS)
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      View Details
    • Value Estimation
      $2,915,000
      10,490 SF

      2503 Raleigh St

      APARTMENT HOUSE (5+ UNITS)
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    • Value Estimation by Request
      147,522 SF

      2222 Raleigh St

      APARTMENT HOUSE (5+ UNITS)
      2222 Raleigh St, Portland, OR 97210-3917
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    • Value Estimation
      $4,975,000
      16,068 SF

      2190 Burnside St

      APARTMENT HOUSE (5+ UNITS)
      2190 Burnside St, Portland, OR 97210-3555
      View Details
    • Value Estimation
      $2,360,000
      9,288 SF

      2155 Flanders St

      APARTMENT HOUSE (5+ UNITS)
      2155 Flanders St, Portland, OR 97210-3423
      View Details
    • Value Estimation
      $4,530,000
      18,546 SF

      2232 Everett St

      APARTMENT HOUSE (5+ UNITS)
      2232 Everett St, Portland, OR 97210-5514
      View Details

    Similar Nearby for Sale

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      $1,295,000
      1,296 SF

      Portland Multifamily Property Near Wallace Park

      Charming multifamily property with excellent tenants and low utility costs.
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      Fully occupied 8-unit multifamily property in Portland's NW district.
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      Portland Multifamily Investment Opportunity

      Meticulously maintained 8-unit property in Portland's vibrant NW district.
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    • New
      $1,399,500
      3,012 SF

      Four-Unit Multifamily with Basement Office

      Four residential units plus a basement office space, with one unit currently used as a short-term rental.
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      View Details
    • New
      $1,399,999
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      Portland Craftsman with ADU Potential

      Charming Craftsman in NW Portland with ADU and modern updates.
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    • $1,295,000
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      Single-level multifamily property with excellent tenants and low utility costs.
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    Similar Nearby for Lease

    • Contact for pricing

      Guild's Lake Flex Space Available

      6200 SF flex space in Guild's Lake Industrial District.
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      View Details
    • $24 SF/Yr

      Restaurant Space in Northwest Corporate Park

      Second-generation restaurant space in Northwest Portland with existing infrastructure.
      3275 NW 29Th Ave, Portland, OR 97210
      View Details
    • Contact for pricing
      28,000 SF

      Northwest York Street Flex Space

      Flex and industrial space available in Portland, Oregon.
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      195,342 SF

      NW Yeon Avenue Warehouse Space

      195,000 SF warehouse with office space for sublease.
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      3,500 SF

      Adaptable Flex Space with Warehouse

      Flexible floor plan with warehouse space and quality finishes.
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      22,438 SF

      Industrial Warehouse Near Downtown Portland

      210,000 SF industrial warehouse with freeway access.
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      View Details
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    Portland, OR 97210-2201
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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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