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Property profile & analytics
OFF-MARKET
Estimated value
$3,045,000
Apartment buildings
2275 Division St, Gresham, OR 97030-5860
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US71-0939486
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1970
Total area
7,760 SF
Lot
0.93 ac (40,511 SF)
Zoning code
CMU
APN
1S3E02C 00800
UPID
US71-0939486
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
$3.04M
Blend (final)
Blend
$3.05M
Owner & transaction history
Northwest Am LLC · 9 yrs held
Northwest Am LLC
since 2016
7 recorded transactions
Zoning & alternative use
CMU · Gresham, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.8M
+35.9%
Medical building
$2.3M
+14.8%
Auto repair, garage
$2.3M
+12.6%
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 Gresham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gresham 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)
$2,045,000
Current use
RESTAURANT
$2,775,000
Change: +36% · Conversion: Difficult
MEDICAL BUILDING
$2,345,000
Change: +15% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,300,000
Change: +13% · Conversion: Difficult
OFFICE BUILDING
$1,995,000
Change: -2% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,920,000
Change: -6% · Conversion: Moderate
Blend value · Realmo final
$3.05M
Range $2.74M – $3.35M · ±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
$392 / 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
$25,922
Tax year 2023
Assessed value
$1,376,810
Assessed 2023
Previous assessed
$1,336,710
+3.0% YoY
Effective rate
1.88%
On assessed value
Land market value
$405,110
Improvement market value
$2,101,480
Total market value
$2,506,590
Applied tax rate
26.0000
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
1970
Heating
BASEBOARD
Buildings
3
Stories
2
Bathrooms
20
Total area
7,760 SF
Lot
0.93 ac (40,511 SF)
Zoning code
CMU
APN
1S3E02C 00800
UPID
US71-0939486
Jurisdiction
MULTNOMAH
Zoning & alternative use
CMU · Gresham, OR
Zoning CMU · permitted uses
CMU · Gresham, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gresham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.0M
RESTAURANT
Est. value
$2.8M
MEDICAL BUILDING
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$2.3M
OFFICE BUILDING
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$1.9M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1970
Heating
BASEBOARD
Stories
2
Buildings
3
Bathrooms
20
Lot
0.93 ac
Current owner
From public records · entity-resolved
Northwest Am LLC
Entity
Mailing address
211 E 11TH ST STE #102, VANCOUVER, WA 98660-3248
Ownership since
2016
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 25, 2016
$1,950,000
Northwest Am LLC
Gresham Golf Partners LLC
Warranty Deed
$1,444,000 · Opus Bank
Nov 19, 2013
$1,480,000
Gresham Golf Partners LLC
Keith Carlson
Warranty Deed
$1,110,000 · Washington Federal
Jan 29, 2013
$1,185,000
Keith A Carlson
Gresham Golf Strategies LLC
Warranty Deed
$925,385 · Washington Federal
Jan 26, 2011
$1,140,000
Gresham Golf Strategies LLC
Carlisle,james R
Warranty Deed
$855,000 · Sterling Savings Bank
Apr 19, 2004
$510,000
James R Carlisle
Y & P Corp
Grant Deed
$550,000 · Bank Of America
Jun 4, 2002
$917,000
James R Carlisle
Thompson-van Linge Wolfe Evely
Grant Deed
$687,750 · Silver Falls Bank
—
—
Northwest Am LLC
—
Deed Of Trust
related
$1,931,000 · Arbor Agcy Lndg LLC
—
—
Thompson-van Linge Wolfe-evely
—
Deed Of Trust
related
$442,000 · Continental Savings Bank
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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