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Property profile & analytics
OFF-MARKET
Estimated value
$2,890,000
Apartment buildings
3210 12th Ave, Portland, OR 97239-3070
Entity Owned
4-yr Hold
Property ID
US71-0709385
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2022
Total area
9,410 SF
Lot
0.1 ac (4,500 SF)
Zoning code
R5
APN
1S1E09AC 05300
UPID
US71-0709385
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
-
The Allison Apartment Building
-
Peake Sun Control, Inc. Interior Design Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.89M
Blend (final)
Blend
$2.89M
Owner & transaction history
El Gibbs LLC · 4 yrs held
El Gibbs LLC
since 2021
7 recorded transactions
Zoning & alternative use
R5 · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.2M
+28.8%
Auto repair, garage
$2.9M
+14.8%
Medical building
$2.8M
+13.6%
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)
$2,500,000
Current use
RESTAURANT
$3,225,000
Change: +29% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,875,000
Change: +15% · Conversion: Difficult
MEDICAL BUILDING
$2,840,000
Change: +14% · Conversion: Moderate
RETAIL STORES
$2,825,000
Change: +13% · Conversion: Difficult
OFFICE BUILDING
$2,720,000
Change: +9% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,580,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$2.89M
Range $2.60M – $3.18M · ±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
$307 / 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
$28,040
Tax year 2023
Assessed value
$1,059,177
Assessed 2023
Previous assessed
$239,596
+342.1% YoY
Effective rate
2.65%
On assessed value
Land market value
$405,000
Improvement market value
$2,430,630
Total market value
$2,835,630
Applied tax rate
1.0000
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
2022
Heating
GRAVITY
Stories
1
Bathrooms
2
Total area
9,410 SF
Lot
0.1 ac (4,500 SF)
Zoning code
R5
APN
1S1E09AC 05300
UPID
US71-0709385
Jurisdiction
MULTNOMAH
Zoning & alternative use
R5 · Portland, OR
Zoning R5 · permitted uses
R5 · 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
$2.5M
RESTAURANT
Est. value
$3.2M
AUTO REPAIR, GARAGE
Est. value
$2.9M
MEDICAL BUILDING
Est. value
$2.8M
RETAIL STORES
Est. value
$2.8M
OFFICE BUILDING
Est. value
$2.7M
COMMERCIAL (GENERAL)
Est. value
$2.6M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
2022
Heating
GRAVITY
Stories
1
Bathrooms
2
Lot
0.1 ac
Current owner
From public records · entity-resolved
El Gibbs LLC
Entity
Mailing address
2233 NW 23RD AVE #100, PORTLAND, OR 97210-2334
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 7, 2023
—
Ei Gibbs LLC
—
Deed
related
$2,400,000 · Clackamas County Bank
Jul 14, 2021
—
El Gibbs LLC
Elliott Properties INC
Bargain And Sale Deed
$2,337,500 · Washington Federal NA
May 8, 2020
$415,000
Elliott Properties INC
Lawrence H Margolin
Warranty Deed
—
Feb 28, 2018
—
Lawrence H Margolin
—
Deed
related
$108,000 · Summit Mortgage Corp
Dec 8, 2014
—
Lawrence H Margolin
Boucher,michelle E
Grant Deed
related
—
Apr 10, 2009
—
Lawrence H Margolin
Boucher,rodney M & Valorie G
Quit Claim Deed
related
—
Nov 13, 2000
—
Rodney M Boucher
Cable,coventry L
Grant Deed
$105,000 · Washington Mutual Fsb
Aug 31, 1995
$134,500
Cable,coventry L
Stanley,nicholas J
Trustees Deed
$107,600 · National Pacific Mortgage Corp
Aug 31, 1995
—
Stanley,nicholas J
Reinhart,craig R
Trustees Deed
related
—
Sep 1, 1990
$75,000
Craig R Reinhart
Niehaus,robert
Grant Deed
$60,000 · Home Savings Of America
—
—
Nicholas J Stanley
—
Deed Of Trust
related
$79,200 · Home Savings Of America
—
—
Mark S Boucher
—
Deed Of Trust
related
$132,000 · Washington Mutual Fsb
—
—
Rodney M Boucher
—
Deed Of Trust
related
$156,000 · Washington Mutual Fsb
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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