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Property profile & analytics
OFF-MARKET
Estimated value
$15,400,000
Apartment buildings
2400 Red Sunset Dr Gresham, OR 97030-3216
Entity Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US71-0727976
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1990
Total area
90,620 SF
Lot
4.82 ac (209,959 SF)
Zoning code
MDR24
APN
1S3E03A 02000
UPID
US71-0727976
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
$18.79M
Blend (final)
Blend
$15.40M
Owner & transaction history
Wb-kb Coho Run LLC · 9 yrs held
Wb-kb Coho Run LLC
since 2017
3 recorded transactions
Zoning & alternative use
MDR24 · Gresham, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$27.4M
+14.8%
Auto repair, garage
$26.9M
+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)
$23,855,000
Current use
MEDICAL BUILDING
$27,375,000
Change: +15% · Conversion: Moderate
AUTO REPAIR, GARAGE
$26,855,000
Change: +13% · Conversion: Difficult
OFFICE BUILDING
$23,305,000
Change: -2% · Conversion: Moderate
COMMERCIAL (GENERAL)
$22,425,000
Change: -6% · Conversion: Moderate
Blend value · Realmo final
$15.40M
Range $13.86M – $16.94M · ±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
$170 / 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
$131,019
Tax year 2023
Assessed value
$6,958,830
Assessed 2023
Previous assessed
$6,756,150
+3.0% YoY
Effective rate
1.88%
On assessed value
Land market value
$1,469,710
Improvement market value
$11,463,220
Total market value
$12,932,930
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
1990
Heating
NONE
Stories
2
Units
104
Total area
90,620 SF
Lot
4.82 ac (209,959 SF)
Zoning code
MDR24
APN
1S3E03A 02000
UPID
US71-0727976
Jurisdiction
MULTNOMAH
Zoning & alternative use
MDR24 · Gresham, ORZoning MDR24 · permitted uses
MDR24 · Gresham, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$23.9M
MEDICAL BUILDING
Est. value
$27.4M
AUTO REPAIR, GARAGE
Est. value
$26.9M
OFFICE BUILDING
Est. value
$23.3M
COMMERCIAL (GENERAL)
Est. value
$22.4M
APARTMENT HOUSE (5+ UNITS) Current
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
1990
Heating
NONE
Stories
2
Units
104
Lot
4.82 ac
Current owner
From public records · entity-resolved
Wb-kb Coho Run LLC
Entity
Mailing address
101 PACIFICA STE #250, IRVINE, CA 92618-7346
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 3, 2017
$15,350,000
Wb-kb Coho Run LLC
Castle USA LLC
Trustees Deed
$11,522,000 · Bellwether Ent Mtg Invs LLC
Mar 21, 2005
—
Castle USA LLC
Baldwin John C Trust
Warranty Deed
related
—
Dec 1, 1991
$4,475,000
Castle,james C Tr
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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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