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Property profile & analytics
OFF-MARKET
Estimated value
$25,965,000
Apartment buildings
2112 Irving St Portland, OR 97210-3845
Entity Owned
11-yr Hold
Free & Clear
Property ID
US71-0600023
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2017
Total area
66,115 SF
Lot
0.51 ac (22,300 SF)
Zoning code
CS
APN
1N1E33BD 08700
UPID
US71-0600023
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
-
Álmr Apartments Apartment Building
-
álmr General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$25.96M
Blend (final)
Blend
$25.97M
Owner & transaction history
625 Nw 21st LLC · 11 yrs held
625 Nw 21st LLC
since 2014
7 recorded transactions
Zoning & alternative use
CS · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$22.6M
+10.5%
Commercial (general)
$22.0M
+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)
$20,480,000
Current use
RESTAURANT
$22,640,000
Change: +11% · Conversion: Difficult
COMMERCIAL (GENERAL)
$21,985,000
Change: +7% · Conversion: Moderate
AUTO REPAIR, GARAGE
$20,190,000
Change: -1% · Conversion: Difficult
MEDICAL BUILDING
$19,970,000
Change: -3% · Conversion: Moderate
RETAIL STORES
$19,850,000
Change: -3% · Conversion: Difficult
OFFICE BUILDING
$19,110,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$25.97M
Range $23.37M – $28.56M · ±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
$393 / 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
$233,943
Tax year 2023
Assessed value
$8,836,826
Assessed 2023
Previous assessed
$8,431,700
+4.8% YoY
Effective rate
2.65%
On assessed value
Land market value
$4,823,750
Improvement market value
$18,109,700
Total market value
$22,933,450
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
2017
Heating
NONE
Stories
1
Total area
66,115 SF
Lot
0.51 ac (22,300 SF)
Zoning code
CS
APN
1N1E33BD 08700
UPID
US71-0600023
Jurisdiction
MULTNOMAH
Zoning & alternative use
CS · Portland, OR
Zoning CS · permitted uses
CS · 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
$20.5M
RESTAURANT
Est. value
$22.6M
COMMERCIAL (GENERAL)
Est. value
$22.0M
AUTO REPAIR, GARAGE
Est. value
$20.2M
MEDICAL BUILDING
Est. value
$20.0M
RETAIL STORES
Est. value
$19.9M
OFFICE BUILDING
Est. value
$19.1M
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
2017
Heating
NONE
Stories
1
Lot
0.51 ac
Current owner
From public records · entity-resolved
625 Nw 21st LLC
Entity
Free & Clear · 11 yrs held
Mailing address
116 NE 6TH AVE STE #400, PORTLAND, OR 97232-3529
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 2, 2020
—
625 Nw 21st LLC
—
Deed
related
$18,600,000 · Vip Gp Ltd
Aug 13, 2019
—
625 Nw 21st LLC
—
Grant Deed
related
$18,600,000 · Pgim Vip Mortgage Account LP
Aug 5, 2016
—
625 Nw 21st LLC
—
Deed Of Trust
related
$15,378,000 · First Republic Bk
Dec 31, 2014
—
625 Nw 21st LLC
Shr Properties LLC
Grant Deed
—
Apr 25, 2014
—
Shr Properties LLC
Gurganus,robi
Quit Claim Deed
related
—
Dec 16, 1999
—
Shr Properties LLC
Gurganus Trust
Grant Deed
related
—
—
—
625 Nw 21st LLC
—
Loan Modification
related
$18,600,000 · Vip Gp Ltd
—
—
Helen F Gurganus
—
Deed Of Trust
related
$194,323 · Us National Bank Oregon
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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