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Property profile & analytics
OFF-MARKET
Estimated value
$42,695,000
Garden apartment buildings
2831 Palmquist Rd Gresham, OR 97080-5271
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US71-0564841
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1999
Total area
203,148 SF
Lot
8.58 ac (373,745 SF)
Zoning code
MDR24
APN
1S3E14BA 00300
UPID
US71-0564841
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
$42.70M
Blend (final)
Blend
$42.70M
Owner & transaction history
Parkside Apartments Gresham LLC · 9 yrs held
Parkside Apartments Gresham LLC
since 2016
6 recorded transactions
Zoning & alternative use
MDR24 · Gresham, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$61.4M
+14.8%
Auto repair, garage
$60.2M
+12.6%
Commercial (general)
$57.9M
+8.2%
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 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)
$53,475,000
Current use
MEDICAL BUILDING
$61,375,000
Change: +15% · Conversion: Moderate
AUTO REPAIR, GARAGE
$60,205,000
Change: +13% · Conversion: Difficult
COMMERCIAL (GENERAL)
$57,875,000
Change: +8% · Conversion: Moderate
OFFICE BUILDING
$52,250,000
Change: -2% · Conversion: Moderate
Blend value · Realmo final
$42.70M
Range $38.43M – $46.96M · ±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
$210 / 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
$297,721
Tax year 2023
Assessed value
$15,812,950
Assessed 2023
Previous assessed
$15,352,380
+3.0% YoY
Effective rate
1.88%
On assessed value
Land market value
$3,737,450
Improvement market value
$36,711,030
Total market value
$40,448,480
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
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1999
Heating
NONE
Buildings
2
Stories
1
Total area
203,148 SF
Lot
8.58 ac (373,745 SF)
Zoning code
MDR24
APN
1S3E14BA 00300
UPID
US71-0564841
Jurisdiction
MULTNOMAH
Zoning & alternative use
MDR24 · Gresham, OR
Zoning MDR24 · permitted uses
MDR24 · Gresham, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gresham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$53.5M
MEDICAL BUILDING
Est. value
$61.4M
AUTO REPAIR, GARAGE
Est. value
$60.2M
COMMERCIAL (GENERAL)
Est. value
$57.9M
OFFICE BUILDING
Est. value
$52.3M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1999
Heating
NONE
Stories
1
Buildings
2
Lot
8.58 ac
Current owner
From public records · entity-resolved
Parkside Apartments Gresham LLC
Entity
Mailing address
18006 SKY PARK CIR STE #200, IRVINE, CA 92614-6406
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 31, 2019
—
Parkside Apts Gresham LLC
—
Grant Deed
related
$33,400,000 · Mufg Union Bk NA
Aug 23, 2016
$37,250,000
Parkside Apartments Gresham LLC
Kre Cc Parkside Owner LLC
Special Warranty Deed
$25,850,000 · Wells Fargo Bank NA
Mar 27, 2015
$23,100,000
Kre Cc Parkside Owner LLC
Parkside Caf LLC
Grant Deed
related
$305,946,000 · Berkadia Com'l Mtg
Feb 21, 2012
$16,450,000
Parkside Caf LLC
Parkside Gresham LLC
Grant Deed
—
Feb 21, 2012
—
Parkside Gresham LLC
—
Deed Of Trust
related
$9,756,430 · Rga Reinsurance Co
Oct 8, 2009
—
Parkside Gresham LLC
—
Deed Of Trust
related
$10,100,000 · Rga Reinsurance Co
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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