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Property profile & analytics
OFF-MARKET
Estimated value
$9,800,000
Apartment buildings
2871 Division St, Portland, OR 97202-1886
Entity Owned
Free & Clear
Property ID
US71-0068740
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2023
Total area
33,489 SF
Lot
0.35 ac (15,200 SF)
Zoning code
CM
APN
1S1E01CC 04500
UPID
US71-0068740
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
-
Ellen Browning Co Housing Condominium Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$13.45M
Blend (final)
Blend
$9.80M
Owner & transaction history
Division 2025 LLC
Division 2025 LLC
since 2025
Last sale
$6.2M
7 recorded transactions
Zoning & alternative use
CM · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$11.5M
+18.9%
Retail stores
$11.2M
+15.9%
Auto repair, garage
$10.2M
+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
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)
$9,650,000
Current use
RESTAURANT
$11,470,000
Change: +19% · Conversion: Difficult
RETAIL STORES
$11,180,000
Change: +16% · Conversion: Difficult
AUTO REPAIR, GARAGE
$10,225,000
Change: +6% · Conversion: Difficult
MEDICAL BUILDING
$10,115,000
Change: +5% · Conversion: Moderate
COMMERCIAL (GENERAL)
$9,740,000
Change: +1% · Conversion: Moderate
OFFICE BUILDING
$9,680,000
Change: +0% · Conversion: Moderate
Blend value · Realmo final
$9.80M
Range $8.82M – $10.78M · ±10% · vs last sale $6.15M (Aug 11 2025)
Last sale anchor
$6.15M
Aug 11 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
$293 / 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
$146,898
Tax year 2023
Assessed value
$5,543,581
Assessed 2023
Previous assessed
$1,062,410
+421.8% YoY
Effective rate
2.65%
On assessed value
Land market value
$2,736,000
Improvement market value
$11,801,860
Total market value
$14,537,860
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
2023
Heating
NONE
Stories
1
Total area
33,489 SF
Lot
0.35 ac (15,200 SF)
Zoning code
CM
APN
1S1E01CC 04500
UPID
US71-0068740
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
$9.7M
RESTAURANT
Est. value
$11.5M
RETAIL STORES
Est. value
$11.2M
AUTO REPAIR, GARAGE
Est. value
$10.2M
MEDICAL BUILDING
Est. value
$10.1M
COMMERCIAL (GENERAL)
Est. value
$9.7M
OFFICE BUILDING
Est. value
$9.7M
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
2023
Heating
NONE
Stories
1
Lot
0.35 ac
Current owner
From public records · entity-resolved
Division 2025 LLC
Entity
Free & Clear · 0 yrs held
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 11, 2025
$6,150,000
Division 2025 LLC
The Ellen Browning Building LLC
Special Warranty Deed
—
Jun 23, 2023
—
Nw Natural
Ellen Browning Building LLC
Lease
—
Jan 4, 2019
$1,950,000
Division 28 LLC
H & H Division LLC
Warranty Deed
—
Feb 28, 2008
—
H & H Division LLC
Hurley,matthew
Grant Deed
$781,000 · Lewis & Clark Bank
Sep 27, 2006
—
Matthew Hurley
H & H Division LLC
Grant Deed
related
—
May 22, 2006
—
H & H Division LLC
Hurley,matt
Grant Deed
related
—
Jun 13, 2005
$725,000
Chester W Louie
Chet & Dave LLC
Grant Deed
—
Sep 13, 2004
—
Chet &e Dave LLC
Louie,chester W & David J
Grant Deed
related
—
—
—
Benjamin M Hall
—
Deed Of Trust
related
$1,750,000 · Jeanne B Hall
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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