Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2510 157th Ave, Unit 2598 Portland, OR 97236-2003

    • Apartment buildings
    • 42,008 SF
    • 1.49 lot acres
    OFF-MARKET
    Last Sale
    Jan 26, 2021
    $6,250,000
    Value Estimations
    $7,325,000
    Show details
    Cap Rate Potential
    7.6%
    Apartment buildings
    Location Intelligence
    Property ID
    US71-0551490
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 2510 157th Ave

    Year built
    1973
    Lot size
    1.49 lot acres
    Property size
    42,008 SF
    Zone code
    R2
    Property type
    Apartment buildings
    APN
    1S2E12AA 03900
    APU
    1S2E12AA03900

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,070,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,990,000
      6.5%
      $8,300,000
      7%
      $7,705,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,044,000
      Market price range: $6.68M - $16.6M
      AI Estimate
      $8,044,000
      Market price range: $6.68M - $16.6M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $11,170,000
      Current use
      OFFICE BUILDING
      $12,140,000
      Change: +9% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $12,100,000
      Change: +8% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.501
    Latitude
    45.5039
    CBSA code
    38900
    CBSA name
    PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $66,472
    $0.00
    $0.00
    $2,950,410
    -
    $647,580
    $5,853,800
    $6,501,380

    Comparable in this City

    • Value Estimation by Request
      0.88 Acres

      3917-4109 Wi Se 122nd Ave

      APARTMENT HOUSE (5+ UNITS) • 0.88 Acres
      3917-4109 Wi Se 122nd Ave, Portland, OR 97236
      View Details
    • Value Estimation
      $1,950,000
      12,257 SF

      13320 Wi Se Powell Blvd

      APARTMENT HOUSE (5+ UNITS) • 12,257 SF
      13320 Wi Se Powell Blvd, Portland, OR 97236
      View Details
    • Value Estimation
      $2,455,000
      6,210 SF

      14302 Division St

      APARTMENT HOUSE (5+ UNITS) • 6,210 SF
      14302 Division St, Portland, OR 97236-2665
      View Details
    • Value Estimation
      $10,875,000
      68,400 SF

      15500 Division St, Unit 15514

      APARTMENT HOUSE (5+ UNITS) • 68,400 SF
      15500 Division St, Portland, OR 97236-2386
      View Details
    • Value Estimation
      $3,705,000
      17,025 SF

      13024 Foster Rd

      APARTMENT HOUSE (5+ UNITS) • 17,025 SF
      13024 Foster Rd, Portland, OR 97236-4526
      View Details
    • Value Estimation
      $1,050,000
      3,864 SF

      17910 Division St

      APARTMENT HOUSE (5+ UNITS) • 3,864 SF
      17910 Division St, Portland, OR 97236-1086
      View Details

    Similar Nearby for Sale

    • $8,300,000

      Portland Multifamily Investment Opportunity

      48-unit apartment complex, high ROI potential
      2500 157Th Ave, Portland, OR 97236
      View Details
    • Contact for pricing

      Portland Multifamily Investment Opportunity

      Well-maintained apartment building with strong income and recent improvements.
      12920 SE Powell Blvd, Portland, OR 97236
      View Details
    • $1,599,000
      10,350 SF

      Townhouse 6-Plex Plus Detached Home

      Townhouse style 6-plex with detached home and development potential.
      2544 SE 141St Ave, Portland, OR 97236
      View Details
    • $44,500

      Remodeled Home in 55+ Community

      Remodeled 2 bed, 1 bath home in Portland 55+ community.
      16745 SE Division St, Portland, OR 97236
      View Details
    • $399,900
      2,340 SF

      Portland Duplex: Income Potential

      2006-built townhouse-style duplex with attached garages and private outdoor space.
      2525 SE 136Th Ave, Portland, OR 97236
      View Details
    • $685,000
      2,326 SF

      Modern Dual-Dwelling Income Property

      2018 built duplex with income potential in Portland, Oregon.
      3223 SE 122Nd Ave, Portland, OR 97236
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,500 SF

      Retail Space at Lit Intersection

      Retail space available at a corner location in Portland, Oregon.
      17218 SE Powell Blvd, Portland, OR 97236
      View Details
    • Contact for pricing
      2,100 SF

      Retail Space at Division Crossing

      Retail space with high visibility and accessibility in Portland, OR.
      16261 SE Division St, Portland, OR 97236
      View Details
    • Contact for pricing

      Commercial Land in Airport Way

      Located in the heart of the Airport Way trade area.
      5950 NE 122Nd Ave, Portland, OR 97236
      View Details
    • Contact for pricing

      Retail Space Near Fred Meyer

      Retail suites available in high-visibility Portland location.
      2520 SE 145Th Ave, Portland, OR 97236
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2510 157th Ave, Unit 2598
    Portland, OR 97236-2003
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.