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Property profile & analytics
OFF-MARKET
Estimated value
$1,935,000
Apartment buildings
2800 23rd St 1, Redmond, OR 97756-6854
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US71-1376185
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2020
Total area
6,230 SF
Lot
0.71 ac (30,928 SF)
APN
151320 DD 00600
UPID
US71-1376185
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
$1.94M
Blend (final)
Blend
$1.94M
Owner & transaction history
23rd Street Property LLC · 6 yrs held
23rd Street Property LLC
since 2020
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.4M
+0.2%
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 Redmond submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Redmond 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)
$2,375,000
Current use
AUTO REPAIR, GARAGE
$2,380,000
Change: +0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,330,000
Change: -2% · Conversion: Moderate
RESTAURANT
$2,310,000
Change: -3% · Conversion: Difficult
RETAIL STORES
$2,035,000
Change: -14% · Conversion: Difficult
MEDICAL BUILDING
$1,990,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$1.94M
Range $1.74M – $2.13M · ±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
$311 / 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
$24,726
Tax year 2023
Assessed value
$1,245,840
Assessed 2023
Previous assessed
$256,060
+386.5% YoY
Effective rate
1.98%
On assessed value
Land market value
$328,650
Improvement market value
$2,535,700
Total market value
$2,864,350
Applied tax rate
2,001.0000
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
Buildings
2
Total area
6,230 SF
Lot
0.71 ac (30,928 SF)
APN
151320 DD 00600
UPID
US71-1376185
Jurisdiction
DESCHUTES
Zoning & alternative use
Zoning · permitted uses
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
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.4M
COMMERCIAL (GENERAL)
Est. value
$2.3M
RESTAURANT
Est. value
$2.3M
RETAIL STORES
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
MEDICAL 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
Buildings
2
Lot
0.71 ac
Current owner
From public records · entity-resolved
23rd Street Property LLC
Entity
Mailing address
660 SUNDANCE RDG CT, REDMOND, OR 97756-7369
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 7, 2020
—
23rd Street Property LLC
Gregory Johnson
Grant Deed
—
May 17, 2019
$160,000
Gregory Johnson
Dry Canyon Investments LLC
Warranty Deed
—
Jun 28, 2013
$27,000
Dry Canyon Investments LLC
Underwood Investment Group LLC
Grant Deed
—
Sep 22, 2010
—
Underwood Investment Group LLC
—
Trustees Deed
related
—
Sep 23, 2009
—
Underwood Investment Group LLC
—
Trustees Deed
related
—
Sep 13, 2007
—
Underwood Investment Group LLC
Gene Hoskin Construction LLC
Warranty Deed
$120,000 · Us Bank NA
May 3, 2006
$300,000
Gene Hoskin Construction LLC
Gustaveson,james L & Carol A R
Warranty Deed
—
Oct 21, 2004
—
James L Gustaveson
Madden,patrick R & Janice L
Warranty Deed
$82,500 · Washington Mutual Fsb
—
—
Underwood Investment Group LLC
—
Deed Of Trust
related
—
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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