Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$7,540,000
Apartment buildings
2021 29th Ave 2065 Portland, OR 97210-2290
Entity Owned
31-yr Hold
Free & Clear
Property ID
US71-0573166
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1951
Total area
30,876 SF
Lot
1.26 ac (55,016 SF)
Zoning code
R1
APN
1N1E29DC 02300
UPID
US71-0573166
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
$7.54M
Blend (final)
Blend
$7.54M
Owner & transaction history
Macleay Associates L L C · 31 yrs held
Macleay Associates L L C
since 1994
1 recorded transaction
Zoning & alternative use
R1 · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$10.6M
+10.5%
Commercial (general)
$10.3M
+7.3%
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)
$9,565,000
Current use
RESTAURANT
$10,575,000
Change: +11% · Conversion: Difficult
COMMERCIAL (GENERAL)
$10,270,000
Change: +7% · Conversion: Moderate
AUTO REPAIR, GARAGE
$9,430,000
Change: -1% · Conversion: Difficult
MEDICAL BUILDING
$9,325,000
Change: -3% · Conversion: Moderate
RETAIL STORES
$9,270,000
Change: -3% · Conversion: Difficult
OFFICE BUILDING
$8,925,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$7.54M
Range $6.79M – $8.29M · ±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
$244 / 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
$53,357
Tax year 2023
Assessed value
$2,015,470
Assessed 2023
Previous assessed
$1,956,770
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$7,975,000
Improvement market value
$1,004,130
Total market value
$8,979,130
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
1951
Heating
NONE
Stories
2
Total area
30,876 SF
Lot
1.26 ac (55,016 SF)
Zoning code
R1
APN
1N1E29DC 02300
UPID
US71-0573166
Jurisdiction
MULTNOMAH
Zoning & alternative use
R1 · Portland, OR
Zoning R1 · permitted uses
R1 · 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
$9.6M
RESTAURANT
Est. value
$10.6M
COMMERCIAL (GENERAL)
Est. value
$10.3M
AUTO REPAIR, GARAGE
Est. value
$9.4M
MEDICAL BUILDING
Est. value
$9.3M
RETAIL STORES
Est. value
$9.3M
OFFICE BUILDING
Est. value
$8.9M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
COMMERCIAL (GENERAL)
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
1951
Heating
NONE
Stories
2
Lot
1.26 ac
Current owner
From public records · entity-resolved
Macleay Associates L L C
Entity
Free & Clear · 31 yrs held
Mailing address
PO BOX 10559, PORTLAND, OR 97296-0559
Ownership since
1994
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 1994
—
Macleay Associates L L C
Rochlin,kaye
Grant Deed
related
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2021 29th Ave, Unit 2065?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
