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Property profile & analytics
OFF-MARKET
Estimated value
$1,830,000
Apartment buildings
2505 12th Ave 2525, Portland, OR 97212-4142
Entity Owned
24-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US71-0713115
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1940
Construction
FRAME
Total area
6,065 SF
Lot
0.23 ac (10,000 SF)
Zoning code
R5AD
APN
1N1E26CA 01300
UPID
US71-0713115
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
$1.83M
Blend (final)
Blend
$1.83M
Owner & transaction history
Labonita Apartments LLC · 24 yrs held
Labonita Apartments LLC
since 2002
5 recorded transactions
Zoning & alternative use
R5AD · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.1M
+28.8%
Auto repair, garage
$1.9M
+14.8%
Medical building
$1.8M
+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)
$1,615,000
Current use
RESTAURANT
$2,075,000
Change: +29% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,850,000
Change: +15% · Conversion: Difficult
MEDICAL BUILDING
$1,830,000
Change: +14% · Conversion: Moderate
RETAIL STORES
$1,820,000
Change: +13% · Conversion: Difficult
OFFICE BUILDING
$1,755,000
Change: +9% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,745,000
Change: +8% · Conversion: Moderate
Blend value · Realmo final
$1.83M
Range $1.65M – $2.01M · ±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
$302 / 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
$17,797
Tax year 2023
Assessed value
$671,610
Assessed 2023
Previous assessed
$652,050
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$688,000
Improvement market value
$2,239,720
Total market value
$2,927,720
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
Off-Market
Year built
1940
Construction
FRAME
Heating
BASEBOARD
Stories
1
Units
10
Bathrooms
10
Total area
6,065 SF
Lot
0.23 ac (10,000 SF)
Zoning code
R5AD
APN
1N1E26CA 01300
UPID
US71-0713115
Jurisdiction
MULTNOMAH
Zoning & alternative use
R5AD · Portland, OR
Zoning R5AD · permitted uses
R5AD · 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
$1.6M
RESTAURANT
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$1.8M
RETAIL STORES
Est. value
$1.8M
OFFICE BUILDING
Est. value
$1.8M
COMMERCIAL (GENERAL)
Est. value
$1.7M
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
1940
Construction
FRAME
Heating
BASEBOARD
Stories
1
Units
10
Bathrooms
10
Lot
0.23 ac
Current owner
From public records · entity-resolved
Labonita Apartments LLC
Entity
Mailing address
2107 NW 23RD AVE, PORTLAND, OR 97210-2336
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 26, 2002
—
Labonita Apartments LLC
Czopek,karen B & Bruce L
Grant Deed
$815,000 · Abn Amro Mortgage Group INC
Jan 10, 1996
$262,500
Mcmonies,walter W & Nancy E
Defrees,mike
Trustees Deed
—
Jan 10, 1996
—
Czopek,karen B & Bruce
Mcmonies,walter W & Nancy E
Trustees Deed
$270,000 · Washington Mutual Fsb
—
—
La Bonita Apartments LLC
—
Deed Of Trust
related
$1,300,000 · J P Morgan Chase Bank
—
—
La Bonita Apartments LLC
—
Deed Of Trust
related
$1,325,000 · Jp Morgan Chase Bk
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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