New search
Property profile & analytics
OFF-MARKET
Estimated value
$5,445,000
Apartment buildings
2651 Thurman St, Portland, OR 97210-2326
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US71-0547536
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2014
Total area
13,291 SF
Lot
0.12 ac (5,041 SF)
Zoning code
CM
APN
1N1E29DD 08800
UPID
US71-0547536
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
Current use
Occupant on record · Public records
-
The Aspen Apartments Apartment Building
-
Mind's Eye Center for Mental Health and Wellness Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.45M
Blend (final)
Blend
$5.45M
Owner & transaction history
Century Portland LLC · 2 yrs held
Century Portland LLC
since 2024
7 recorded transactions
Zoning & alternative use
CM · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.6M
+10.5%
Commercial (general)
$4.4M
+7.3%
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)
$4,120,000
Current use
RESTAURANT
$4,550,000
Change: +11% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,420,000
Change: +7% · Conversion: Moderate
AUTO REPAIR, GARAGE
$4,060,000
Change: -1% · Conversion: Difficult
MEDICAL BUILDING
$4,015,000
Change: -3% · Conversion: Moderate
RETAIL STORES
$3,990,000
Change: -3% · Conversion: Difficult
OFFICE BUILDING
$3,840,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$5.45M
Range $4.90M – $5.99M · ±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
$410 / 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
$56,593
Tax year 2023
Assessed value
$2,137,710
Assessed 2023
Previous assessed
$2,137,710
+0.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$805,800
Improvement market value
$4,473,980
Total market value
$5,279,780
Applied tax rate
1.0000
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
2014
Heating
BASEBOARD
Stories
2
Bathrooms
4
Total area
13,291 SF
Lot
0.12 ac (5,041 SF)
Zoning code
CM
APN
1N1E29DD 08800
UPID
US71-0547536
Jurisdiction
MULTNOMAH
Zoning & alternative use
CM · Portland, OR
Zoning CM · permitted uses
CM · 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
$4.1M
RESTAURANT
Est. value
$4.6M
COMMERCIAL (GENERAL)
Est. value
$4.4M
AUTO REPAIR, GARAGE
Est. value
$4.1M
MEDICAL BUILDING
Est. value
$4.0M
RETAIL STORES
Est. value
$4.0M
OFFICE BUILDING
Est. value
$3.8M
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
2014
Heating
BASEBOARD
Stories
2
Bathrooms
4
Lot
0.12 ac
Current owner
From public records · entity-resolved
Century Portland LLC
Entity
Mailing address
915 WILSHIRE BLVD STE #1760, LOS ANGELES, CA 90017-3486
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 6, 2024
—
Century Portland LLC
Gerald M Whitehead
Warranty Deed
—
Jun 17, 2015
—
Bachmann Trust
2651 Thurman LLC
Warranty Deed
—
Sep 26, 2013
—
2651 Thurman LLC
Thurman Partners LLC
Quit Claim Deed
$2,340,000 · Clackamas County Bank
Feb 12, 2007
—
Thurman Partners LLC
Opsahl,gregg L
Grant Deed
—
Jun 21, 2006
$595,000
Gregg L Opsahl
Locke,patricia A
Warranty Deed
$424,000 · Greenpoint Mortgage Funding
Sep 8, 1995
$245,000
David W Lee
Sundin,paul D & Beverly J
Grant Deed
$208,250 · Bank Of America
—
—
Patricia A Locke
—
Deed Of Trust
related
$50,100 · Majestic Mortgage Co
—
—
David W Lee
—
Deed Of Trust
related
$219,350 · North American Mortgage
—
—
Patricia A Locke
—
Deed Of Trust
related
$396,900 · Majestic Mortgage Services INC
—
—
David W Lee
—
Deed Of Trust
related
$210,500 · Bankunited
—
—
David W Lee
—
Deed Of Trust
related
$40,600 · Headlands Mortgage
—
—
David W Lee
—
Deed Of Trust
related
$270,000 · Washington Mutual Fsb
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2651 Thurman St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
