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Property profile & analytics
FOR SALE
Apartment buildings
2219 SE 66Th Ave Portland, OR 97215
Entity Owned
Free & Clear
Property ID
US71-0914635
For Sale
1 / 16
$3,600,000
2219 SE 66Th Ave, Portland, OR 97215
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Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1960
Construction
FRAME
Total area
20,772 SF
Lot
0.92 ac (40,075 SF)
Zoning code
R2
APN
1S2E05CC 04100
UPID
US71-0914635
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
$5.52M
Blend (final)
Blend
$5.53M
Owner & transaction history
WARNER PACIFIC COLLEGE
WARNER PACIFIC COLLEGE
Zoning & alternative use
R2 · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.1M
+28.8%
Auto repair, garage
$6.3M
+14.8%
Medical building
$6.3M
+13.6%
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)
$5,525,000
Current use
RESTAURANT
$7,115,000
Change: +29% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,345,000
Change: +15% · Conversion: Difficult
MEDICAL BUILDING
$6,275,000
Change: +14% · Conversion: Moderate
RETAIL STORES
$6,235,000
Change: +13% · Conversion: Difficult
OFFICE BUILDING
$6,005,000
Change: +9% · Conversion: Moderate
COMMERCIAL (GENERAL)
$5,980,000
Change: +8% · Conversion: Moderate
Blend value · Realmo final
$5.53M
Range $4.97M – $6.08M · ±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
$266 / 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
Land market value
$465,370
Improvement market value
$2,378,220
Total market value
$2,843,590
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
For Sale
Year built
1960
Construction
FRAME
Heating
NONE
Stories
2
Units
24
Total area
20,772 SF
Lot
0.92 ac (40,075 SF)
Zoning code
R2
APN
1S2E05CC 04100
UPID
US71-0914635
Jurisdiction
MULTNOMAH
Zoning & alternative use
R2 · Portland, OR
Zoning R2 · permitted uses
R2 · 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
$5.5M
RESTAURANT
Est. value
$7.1M
AUTO REPAIR, GARAGE
Est. value
$6.3M
MEDICAL BUILDING
Est. value
$6.3M
RETAIL STORES
Est. value
$6.2M
OFFICE BUILDING
Est. value
$6.0M
COMMERCIAL (GENERAL)
Est. value
$6.0M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1960
Construction
FRAME
Heating
NONE
Stories
2
Units
24
Lot
0.92 ac
Current owner
From public records · entity-resolved
WARNER PACIFIC COLLEGE
Individual
Free & Clear · 0 yrs held
Mailing address
2219 SE 68TH AVE, PORTLAND, OR 97215-4026
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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?”
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