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Property profile & analytics
FOR SALE
Apartment buildings
2628 Red Sunset Dr Gresham, OR 97030-8102
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US71-1840758
No photos on file
For Sale
Contact for pricing
2628 Red Sunset Dr, Gresham, OR 97030-8102
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Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1991
Total area
6,360 SF
Lot
0.93 ac (40,631 SF)
Zoning code
MDR24
APN
1S3E03A 01600
UPID
US71-1840758
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
$2.49M
Blend (final)
Blend
$3.17M
Owner & transaction history
Uaa Park Place LLC · 7 yrs held
Uaa Park Place LLC
since 2019
7 recorded transactions
Zoning & alternative use
MDR24 · Gresham, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.3M
+35.9%
Medical building
$1.9M
+14.8%
Auto repair, garage
$1.9M
+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)
$1,675,000
Current use
RESTAURANT
$2,275,000
Change: +36% · Conversion: Difficult
MEDICAL BUILDING
$1,920,000
Change: +15% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,885,000
Change: +13% · Conversion: Difficult
OFFICE BUILDING
$1,635,000
Change: -2% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,575,000
Change: -6% · Conversion: Moderate
Blend value · Realmo final
$3.17M
Range $2.85M – $3.48M · ±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
$498 / 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
$28,368
Tax year 2023
Assessed value
$1,506,700
Assessed 2023
Previous assessed
$1,462,820
+3.0% YoY
Effective rate
1.88%
On assessed value
Land market value
$284,420
Improvement market value
$3,096,990
Total market value
$3,381,410
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
For Sale
Year built
1991
Heating
BASEBOARD
Buildings
4
Stories
2
Bathrooms
36
Total area
6,360 SF
Lot
0.93 ac (40,631 SF)
Zoning code
MDR24
APN
1S3E03A 01600
UPID
US71-1840758
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
$1.7M
RESTAURANT
Est. value
$2.3M
MEDICAL BUILDING
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$1.9M
OFFICE BUILDING
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.6M
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
1991
Heating
BASEBOARD
Stories
2
Buildings
4
Bathrooms
36
Lot
0.93 ac
Current owner
From public records · entity-resolved
Uaa Park Place LLC
Entity
Mailing address
422 NW 13TH AVE, PORTLAND, OR 97209-2930
Ownership since
2019
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
Apr 1, 2019
$3,175,000
Uaa Park Place LLC
Park Place Gresham Investmlents LLC
Warranty Deed
$2,332,000 · Opus Bank
May 31, 2013
$1,275,000
Park Place Gresham Invs LLC
Fortune 88 Property LLC
Warranty Deed
$960,000 · Regents Bank
Oct 31, 2002
$1,200,000
Fortune 88 Property LLC
Cruz,johnny G & Celia K O
Grant Deed
$840,000 · Washington Mutual Fsb
Dec 8, 1995
$970,000
Johnny G Cruz
Carlson,arthur D & Phyllis H
Grant Deed
$727,000 · Washington Mutual Fsb
Apr 13, 1994
$873,000
Carlson,arthur D & Phyllis H
Realty Exchanger
Trustees Deed
$28,000 · Seller
Apr 13, 1994
—
Phillips,terry O & Rebecca A
Defrees,michael
Trustees Deed
related
—
—
—
Fortune 88 Property LLC
—
Deed Of Trust
related
$800,000 · First Republic Bank
—
—
Park Place Gresham Invs LLC
—
Deed Of Trust
related
$1,376,000 · Greystone Svcg
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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