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Property profile & analytics
OFF-MARKET
Estimated value
$1,750,000
Apartment buildings
2720 Steele St, Portland, OR 97202-4641
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US71-1914921
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2020
Total area
6,560 SF
Lot
0.09 ac (3,726 SF)
Zoning code
CN2
APN
1S1E13BC 02400
UPID
US71-1914921
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
$1.36M
Comparable Approach
Comparable
$1.55M
Blend (final)
Blend
$1.75M
Owner & transaction history
Tanuki Northwest LLC · 1 yrs held
Tanuki Northwest LLC
since 2025
Last sale
$2.1M
7 recorded transactions
Zoning & alternative use
CN2 · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.2M
+18.9%
Retail stores
$2.2M
+15.9%
Auto repair, garage
$2.0M
+6.0%
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
$1,830,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,475,000
6.5%
$1,360,000
7%
$1,265,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,890,000
Current use
RESTAURANT
$2,245,000
Change: +19% · Conversion: Difficult
RETAIL STORES
$2,190,000
Change: +16% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,005,000
Change: +6% · Conversion: Difficult
MEDICAL BUILDING
$1,980,000
Change: +5% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,910,000
Change: +1% · Conversion: Moderate
OFFICE BUILDING
$1,895,000
Change: +0% · Conversion: Moderate
Blend value · Realmo final
$1.75M
Range $1.58M – $1.93M · ±10% · vs last sale $2.10M (May 21 2025)
Last sale anchor
$2.10M
May 21 2025
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
$267 / 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
$14,800
Tax year 2023
Assessed value
$558,500
Assessed 2023
Previous assessed
$542,240
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$372,600
Improvement market value
$1,457,470
Total market value
$1,830,070
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
2020
Heating
NONE
Stories
1
Total area
6,560 SF
Lot
0.09 ac (3,726 SF)
Zoning code
CN2
APN
1S1E13BC 02400
UPID
US71-1914921
Jurisdiction
MULTNOMAH
Zoning & alternative use
CN2 · Portland, OR
Zoning CN2 · permitted uses
CN2 · 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
$1.9M
RESTAURANT
Est. value
$2.2M
RETAIL STORES
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$1.9M
OFFICE BUILDING
Est. value
$1.9M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
2020
Heating
NONE
Stories
1
Lot
0.09 ac
Current owner
From public records · entity-resolved
Tanuki Northwest LLC
Entity
Mailing address
2642 NW BEUHLA VIS TER, PORTLAND, OR 97210-3302
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 21, 2025
$2,100,000
Tanuki Northwest LLC
Bag Of Steele LLC
Warranty Deed
—
Nov 4, 2020
—
Bag Of Steele LLC
Michael Smira
Bargain And Sale Deed
$1,850,000 · Willamette Valley Bank
Apr 9, 2020
—
Michael F Smira
—
Deed
related
$105,000 · Eduardo Antonio Puelma & Mtc A
Dec 3, 2019
—
Michael Smira
—
Deed
related
$65,000 · Modern Homes LLC
Feb 26, 2018
—
Michael Smira
—
Trustees Deed
related
$20,000 · Daniel & Lindsey Moody
Oct 20, 2017
—
Michael Smira
—
Trustees Deed
related
$1,773,350 · Construction Loan Services LLC Construction Loan Services LLC
Aug 31, 2017
$500,000
Michael Smira
Blue Dart Acquistions I LLC
Warranty Deed
$1,773,350 · Construction Loan Services LLC
Aug 25, 2015
$65,000
Blue Dart Acquisitions I LLC
Connelly,mark & A Lorena
Warranty Deed
—
Aug 19, 2013
$60,000
Mark Connelly
Sandersfeld,john D
Grant Deed
—
May 6, 2008
—
Gerry Dindia
—
Trustees Deed
related
$75,000 · John Sandersfeld
Aug 24, 2007
$150,000
Gerald P Dindia
Read,lynn E & Alysia J
Warranty Deed
—
Jul 12, 2004
$69,000
Lynn E Read
Bauer Trust
Warranty Deed
$51,750 · Clackamas County Bank
Sep 24, 2002
—
Bauer,tr
—
Trustees Deed
related
$435,000 · Bank Of Portland
—
—
Michael Smira
—
Deed Of Trust
related
$65,000 · Modern Homes LLC
—
—
Jerry Dindia
—
Deed Of Trust
related
$87,000 · Sharon Dindia
—
—
Michael F Smira
—
Deed Of Trust
related
$105,000 · Eduardo Antonio Puelma & Mtc A
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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