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Property profile & analytics
OFF-MARKET
Estimated value
$8,710,000
Apartment buildings
2351 Elm St, Forest Grove, OR 97116-1570
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US71-0759444
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Total area
39,200 SF
Lot
3.14 ac (136,778 SF)
Zoning code
RMH
APN
1N331DB-02203
UPID
US71-0759444
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
$8.71M
Blend (final)
Blend
$8.71M
Owner & transaction history
Bienestar INC · 15 yrs held
Bienestar INC
since 2010
4 recorded transactions
Zoning & alternative use
RMH · Forest Grove, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$12.5M
+43.5%
Restaurant
$11.9M
+36.2%
Commercial (general)
$10.9M
+24.7%
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 Forest Grove submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Forest Grove 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)
$8,710,000
Current use
MEDICAL BUILDING
$12,500,000
Change: +43% · Conversion: Moderate
RESTAURANT
$11,865,000
Change: +36% · Conversion: Difficult
COMMERCIAL (GENERAL)
$10,865,000
Change: +25% · Conversion: Moderate
RETAIL STORES
$8,770,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$8.71M
Range $7.84M – $9.58M · ±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
$222 / 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
$980,000
Improvement market value
$6,625,380
Total market value
$7,605,380
Applied tax rate
15.0000
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
Heating
NONE
Total area
39,200 SF
Lot
3.14 ac (136,778 SF)
Zoning code
RMH
APN
1N331DB-02203
UPID
US71-0759444
Jurisdiction
WASHINGTON
Zoning & alternative use
RMH · Forest Grove, OR
Zoning RMH · permitted uses
RMH · Forest Grove, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Forest Grove. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$8.7M
MEDICAL BUILDING
Est. value
$12.5M
RESTAURANT
Est. value
$11.9M
COMMERCIAL (GENERAL)
Est. value
$10.9M
RETAIL STORES
Est. value
$8.8M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
RETAIL STORES
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
Heating
NONE
Lot
3.14 ac
Current owner
From public records · entity-resolved
Bienestar INC
Entity
Mailing address
PO BOX 665, HILLSBORO, OR 97123-0665
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 22, 2010
—
Bienestar INC
Housing Dev Corp Of Washington Cn
Warranty Deed
$275,000 · Usda Rural Housing Service
Sep 26, 2003
$65,000
Mark W Walsh
French,tr
Grant Deed
—
—
—
Housing Dev Corp Of Northwest Ore
—
Deed Of Trust
related
$300,000 · Casa Of Oregon
—
—
Bienestar INC
—
Deed Of Trust
related
$275,000 · Rural Housing Service
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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