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Property profile & analytics
OFF-MARKET
Estimated value
$1,690,000
Apartment buildings
2904 Washington St 2914 Portland, OR 97214-3057
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US71-0913618
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1930
Construction
FRAME
Total area
6,399 SF
Lot
0.11 ac (5,000 SF)
Zoning code
R2.5
APN
1S1E01BA 14900
UPID
US71-0913618
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
-
Melissa Elliott Landscape Landscaping General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.86M
Blend (final)
Blend
$1.69M
Owner & transaction history
Mchope LLC
Mchope LLC
since 2026
Last sale
$1.5M
3 recorded transactions
Zoning & alternative use
R2.5 · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.2M
+15.7%
Retail stores
$2.1M
+8.7%
Auto repair, garage
$2.0M
+3.2%
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 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)
$1,895,000
Current use
RESTAURANT
$2,190,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$2,060,000
Change: +9% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,955,000
Change: +3% · Conversion: Difficult
MEDICAL BUILDING
$1,935,000
Change: +2% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,855,000
Change: -2% · Conversion: Moderate
OFFICE BUILDING
$1,850,000
Change: -2% · Conversion: Moderate
Blend value · Realmo final
$1.69M
Range $1.52M – $1.86M · ±10% · vs last sale $1.52M (Feb 27 2026)
Last sale anchor
$1.52M
Feb 27 2026
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
$264 / 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
$17,492
Tax year 2023
Assessed value
$660,110
Assessed 2023
Previous assessed
$640,890
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$621,500
Improvement market value
$1,009,580
Total market value
$1,631,080
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
1930
Construction
FRAME
Heating
HOT WATER
Stories
1
Units
6
Bathrooms
6
Total area
6,399 SF
Lot
0.11 ac (5,000 SF)
Zoning code
R2.5
APN
1S1E01BA 14900
UPID
US71-0913618
Jurisdiction
MULTNOMAH
Zoning & alternative use
R2.5 · Portland, OR
Zoning R2.5 · permitted uses
R2.5 · 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
$2.1M
AUTO REPAIR, GARAGE
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$1.9M
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
1930
Construction
FRAME
Heating
HOT WATER
Stories
1
Units
6
Bathrooms
6
Lot
0.11 ac
Current owner
From public records · entity-resolved
Mchope LLC
Entity
Mailing address
1965 SE HEMLOCK AVE, PORTLAND, OR 97214-4820
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 27, 2026
$1,521,500
Mchope LLC
Judith L Rees Trust
Warranty Deed
$1,071,500 · Judith L Rees Trust
Dec 27, 2007
—
Rees Judith L Trust
Rees,judith
Quit Claim Deed
related
—
Jul 20, 1994
$325,000
Judith L Rees
Stegmiller,james
Grant Deed
$115,000 · Individual
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
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