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Property profile & analytics
FOR SALE
Apartment buildings
2634 Northeast Broadway Portland, OR 97232
Entity Owned
3-yr Hold
Free & Clear
Property ID
US71-0509342
For Sale
1 / 27
$1,099,000
2634 Northeast Broadway, Portland, OR 97232
View Listing →
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1925
Construction
FRAME
Total area
5,420 SF
Lot
0.09 ac (4,000 SF)
Zoning code
CS
APN
1N1E25CC 13300
UPID
US71-0509342
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
$1.07M
Comparable Approach
Comparable
$1.60M
Blend (final)
Blend
$1.29M
Owner & transaction history
Broadway Apartments LLC · 3 yrs held
Broadway Apartments LLC
since 2023
Last sale
$1.1M
2 recorded transactions
Zoning & alternative use
CS · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.9M
+28.8%
Commercial (general)
$1.8M
+21.5%
Auto repair, garage
$1.7M
+14.8%
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
$1,340,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,160,000
6.5%
$1,070,000
7%
$995,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,440,000
Current use
RESTAURANT
$1,855,000
Change: +29% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,750,000
Change: +21% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,655,000
Change: +15% · Conversion: Difficult
MEDICAL BUILDING
$1,635,000
Change: +14% · Conversion: Moderate
RETAIL STORES
$1,625,000
Change: +13% · Conversion: Difficult
OFFICE BUILDING
$1,565,000
Change: +9% · Conversion: Moderate
Blend value · Realmo final
$1.29M
Range $1.16M – $1.41M · ±10% · vs last sale $1.05M (Mar 31 2023)
Last sale anchor
$1.05M
Mar 31 2023
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
$237 / 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
$15,534
Tax year 2023
Assessed value
$586,220
Assessed 2023
Previous assessed
$569,150
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$520,000
Improvement market value
$644,120
Total market value
$1,164,120
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
For Sale
Year built
1925
Construction
FRAME
Heating
HOT WATER
Stories
3
Units
5
Bathrooms
6
Total area
5,420 SF
Lot
0.09 ac (4,000 SF)
Zoning code
CS
APN
1N1E25CC 13300
UPID
US71-0509342
Jurisdiction
MULTNOMAH
Zoning & alternative use
CS · Portland, ORZoning CS · permitted uses
CS · Portland, 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
$1.4M
RESTAURANT
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.6M
RETAIL STORES
Est. value
$1.6M
OFFICE BUILDING
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
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
1925
Construction
FRAME
Heating
HOT WATER
Stories
3
Units
5
Bathrooms
6
Lot
0.09 ac
Current owner
From public records · entity-resolved
Broadway Apartments LLC
Entity
Free & Clear · 3 yrs held
Mailing address
19719 SE 3RD WAY, CAMAS, WA 98607-8656
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2023
$1,050,000
Broadway Apartments LLC
Hugh Wade Owens IV
Warranty Deed
—
Nov 14, 2003
$100,000
Hugh W Owens
Providence Health System FCU
Grant Deed
$356,250 · Sib Mortgage Corp
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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