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    2998 18th Ct Gresham, OR 97030-4331
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    Property profile & analytics

    2998 18th Ct, Gresham, OR 97030-4331

    View on Map
    • Apartment buildings
    • 7,236 SF
    • 0.62 lot acres
    Off-Market
    Property ID
    US71-1779561
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,520,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 2998 18th Ct

    Year built
    1977
    Construction
    FRAME
    Lot size
    0.62 lot acres
    Zone code
    CMF
    Property type
    Apartment buildings
    APN
    1S3E02DB 01500
    APU
    1S3E02DB01500

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 1, 2015 $700,000 C & E Investments 2998 LLC C George Eischen Warranty Deed $520k · Jpmorgan Chase Bank NA
    Nov 10, 2008 $560,000 C George Eischen Ochoa,william O & Dina I Warranty Deed $405k · Clackamas County Bank
    Nov 10, 2008 — William O Ochoa City Of Gresham Quit Claim Deed · related —
    Nov 6, 2006 $515,000 William Oswaldo Ochoa Investment Management Group LLC Warranty Deed $225k · Washington Federal Savings
    Apr 29, 2005 $950,000 Investment Mgmt Group LLC Bennington,craig J & Mary J Warranty Deed $713k · Lasalle National Bank
    Jun 23, 2004 $840,000 Craig J Bennington Sls LLC Warranty Deed —
    Jul 24, 2003 $860,000 S L S LLC Bloomgarden,tr Grant Deed $800k · Irwin Leitgeb

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,521,000
      Market price range: $1.12M - $2.84M
      AI Estimate
      $1,521,000
      Market price range: $1.12M - $2.84M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,905,000
      Current use
      MEDICAL BUILDING
      $2,185,000
      Change: +15% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $2,145,000
      Change: +13% Conversion: Difficult
      OFFICE BUILDING
      $1,860,000
      Change: -2% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,790,000
      Change: -6% Conversion: Moderate

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Gresham
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.402
    Latitude
    45.5097
    CBSA code
    38900
    CBSA name
    PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $10,608
    $0.00
    $0.00
    $563,450
    -
    $428,000
    $917,900
    $1,345,900

    Comparable in this City

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      $7,960,000
      35,475 SF

      22766 Stark St

      APARTMENT HOUSE (5+ UNITS)
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    • Value Estimation
      $21,330,000
      93,100 SF

      4725 Powell Blvd

      APARTMENT HOUSE (5+ UNITS)
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    • Value Estimation
      $15,910,000
      75,060 SF

      301 Eastman Pkwy

      APARTMENT HOUSE (5+ UNITS)
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    • Value Estimation
      $1,645,000
      4,200 SF

      890 Wi Nw Division St

      APARTMENT HOUSE (5+ UNITS)
      890 Wi Nw Division St, Gresham, OR 97030
      View Details
    • Value Estimation
      $1,595,000
      5,856 SF

      21724 Alder Dr

      APARTMENT HOUSE (5+ UNITS)
      21724 Alder Dr, Gresham, OR 97030-2449
      View Details
    • Value Estimation
      $7,980,000
      41,320 SF

      1209 Linden Ave

      APARTMENT HOUSE (5+ UNITS)
      1209 Linden Ave, Gresham, OR 97030-3904
      View Details

    Similar Nearby for Sale

    • $689,000
      835 SF

      Well-Maintained Triplex in Gresham

      Triplex with one vacant unit, ideal for owner-occupancy.
      3110 Northeast 7 Ct, Gresham, OR 97030
      View Details
    • $689,000
      0.22 Acres

      Gresham Triplex with Creek View

      Well-maintained triplex in Gresham with a vacant unit.
      3110 NE 7 Ct, Gresham, OR 97030
      View Details
    • Contact for pricing
      19,580 SF

      Gresham Duplex Apartments with Conversion Potential

      Eleven well-maintained duplex units in a convenient Gresham location.
      110-162 NW 15 Ave, Gresham, OR 97030
      View Details
    • $450,000
      0.17 Acres

      Gresham Duplex with Rental History

      Well-maintained duplex with long-term tenants and new roof.
      970 NW Wonderview Ct, Gresham, OR 97030
      View Details
    • $750,000
      1,996 SF

      Gresham Mixed-Use Building

      1,996 SF, .32-acre lot, high visibility
      21511 Stark St, Gresham, OR 97030
      View Details
    • $1,100,000
      5,728 SF

      Prime Corner Location in Gresham

      Fully renovated corner property with flexible use and ample parking.
      1005 N Main St, Gresham, OR 97030
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      New Industrial Space in Gresham

      2800 SF industrial space in Gresham's General Industrial zone.
      21600 SE Stark St, Gresham, OR 97030
      View Details
    • $20 SF/Yr

      Remodeled Office Space Available

      Newly remodeled office space in a professional medical building.
      25500 SE Stark St, Gresham, OR 97030
      View Details
    • Contact for pricing
      3,909 SF

      Retail Space in Gresham, Oregon

      Retail space available for lease in Gresham, Oregon.
      1748 NW Fairview Dr, Gresham, OR 97030
      View Details
    • Contact for pricing
      2,761 SF

      Industrial Space Available For Rent

      Industrial property available for rent in Gresham, Oregon.
      21920-21968 NE Glisan St, Gresham, OR 97030
      View Details
    • Contact for pricing
      1,658 SF

      Professional Office Space Available

      Office space with private offices and collaborative work area.
      1700 NW Civic Dr, Gresham, OR 97030
      View Details
    • Contact for pricing

      Gresham Shopping Center Space Available

      Shopping center space for lease near downtown Gresham.
      NW Division St, Gresham, OR 97030
      View Details
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    Gresham, OR 97030-4331
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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