Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$8,065,000
Apartment buildings
2222 Spg Gdn St Portland, OR 97219-4019
Entity Owned
6-yr Hold
Free & Clear
Property ID
US71-1808775
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1967
Total area
42,244 SF
Lot
0.81 ac (35,188 SF)
Zoning code
CG
APN
1S1E21CC 02400
UPID
US71-1808775
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
-
2222 Apartments Apartment Building
-
ZoneITS Network Solutions Marketing & Advertising (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.41M
Comparable Approach
Comparable
$7.41M
Blend (final)
Blend
$8.07M
Owner & transaction history
2222 Spring Garden LLC · 6 yrs held
2222 Spring Garden LLC
since 2020
Last sale
$8.6M
7 recorded transactions
Zoning & alternative use
CG · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$12.9M
+14.8%
Medical building
$12.8M
+13.6%
Retail stores
$12.7M
+12.9%
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
$11,075,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$9,110,000
6.5%
$8,410,000
7%
$7,810,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$11,230,000
Current use
AUTO REPAIR, GARAGE
$12,900,000
Change: +15% · Conversion: Difficult
MEDICAL BUILDING
$12,760,000
Change: +14% · Conversion: Moderate
RETAIL STORES
$12,680,000
Change: +13% · Conversion: Difficult
OFFICE BUILDING
$12,210,000
Change: +9% · Conversion: Moderate
COMMERCIAL (GENERAL)
$12,165,000
Change: +8% · Conversion: Moderate
Blend value · Realmo final
$8.07M
Range $7.26M – $8.87M · ±10% · vs last sale $8.55M (Jan 2 2026)
Last sale anchor
$8.55M
Jan 2 2026
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
$191 / 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
$71,981
Tax year 2023
Assessed value
$2,718,980
Assessed 2023
Previous assessed
$2,639,790
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$1,954,260
Improvement market value
$4,357,280
Total market value
$6,311,540
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
1967
Heating
NONE
Buildings
2
Stories
1
Total area
42,244 SF
Lot
0.81 ac (35,188 SF)
Zoning code
CG
APN
1S1E21CC 02400
UPID
US71-1808775
Jurisdiction
MULTNOMAH
Zoning & alternative use
CG · Portland, OR
Zoning CG · permitted uses
CG · 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
$11.2M
AUTO REPAIR, GARAGE
Est. value
$12.9M
MEDICAL BUILDING
Est. value
$12.8M
RETAIL STORES
Est. value
$12.7M
OFFICE BUILDING
Est. value
$12.2M
COMMERCIAL (GENERAL)
Est. value
$12.2M
APARTMENT HOUSE (5+ UNITS) Current
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
1967
Heating
NONE
Stories
1
Buildings
2
Lot
0.81 ac
Current owner
From public records · entity-resolved
2222 Spring Garden LLC
Entity
Free & Clear · 6 yrs held
Mailing address
1100 MAR W ST E STE E, TIBURON, CA 94920-1861
Ownership since
2020
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
Jul 14, 2020
$8,550,000
2222 Spring Garden LLC
Survivors H Trus
Warranty Deed
—
Jan 22, 2019
$8,550,000
Harvey Survivor
Twenty Two Twenty Two LLC
Warranty Deed
—
Dec 27, 2017
—
Twenty Two Twenty Two LLC
—
Grant Deed
related
$5,555,000 · Umpqua Bk
Aug 14, 2015
$4,450,000
Twenty Two Twenty Two LLC
Leaside Investments LLC
Warranty Deed
$3,337,500 · Umpqua Bank
Sep 5, 2006
—
James G Ordway
Ordway,james G & Patricia L
Quit Claim Deed
related
—
Jun 11, 2003
$4,000
Oregon State Transportation De
Leaside Investments LLC
Grant Deed
—
Apr 23, 1999
—
Eugene Dickerhoof
B & T Vending Co
Quit Claim Deed
related
—
Jan 1, 1991
$575,000
John M Woodworth
Unknown
Grant Deed
—
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 2222 Spg Gdn St?
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.
