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Property profile & analytics
OFF-MARKET
Estimated value
$4,415,000
Apartment buildings
3220 22nd Ave, Forest Grove, OR 97116-1996
Entity Owned
10-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US71-0455712
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Total area
25,650 SF
Lot
1.81 ac (78,844 SF)
Zoning code
RMH
APN
1N332CC-03400
UPID
US71-0455712
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
$4.42M
Blend (final)
Blend
$4.42M
Owner & transaction history
Lck Investment LLC · 10 yrs held
Lck Investment LLC
since 2016
7 recorded transactions
Zoning & alternative use
RMH · Forest Grove, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$7.1M
+24.7%
Retail stores
$5.7M
+0.7%
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 Forest Grove submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Forest Grove 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)
$5,700,000
Current use
COMMERCIAL (GENERAL)
$7,110,000
Change: +25% · Conversion: Moderate
RETAIL STORES
$5,740,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$4.42M
Range $3.97M – $4.86M · ±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
$172 / 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
$27,817
Tax year 2023
Assessed value
$1,481,860
Assessed 2023
Previous assessed
$1,438,700
+3.0% YoY
Effective rate
1.88%
On assessed value
Land market value
$765,000
Improvement market value
$4,233,090
Total market value
$4,998,090
Applied tax rate
15.0000
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
Heating
NONE
Total area
25,650 SF
Lot
1.81 ac (78,844 SF)
Zoning code
RMH
APN
1N332CC-03400
UPID
US71-0455712
Jurisdiction
WASHINGTON
Zoning & alternative use
RMH · Forest Grove, OR
Zoning RMH · permitted uses
RMH · Forest Grove, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Forest Grove. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$5.7M
COMMERCIAL (GENERAL)
Est. value
$7.1M
RETAIL STORES
Est. value
$5.7M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
RETAIL STORES
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
Heating
NONE
Lot
1.81 ac
Current owner
From public records · entity-resolved
Lck Investment LLC
Entity
Mailing address
2727 LYNDON B JOHNSON FWY STE #806, DALLAS, TX 75234-7334
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 18, 2020
—
Lck Investment LLC
—
Deed
related
$3,188,000 · Sabal Capital II LLC
Jul 6, 2017
—
Lck Investment LLC
—
Deed
related
$2,600,000 · Greystone Svcg
Jan 4, 2016
$2,520,000
Lck Investment LLC
Kenny Road North LLC
Warranty Deed
$1,870,000 · Opus Bank
Dec 28, 2011
—
Kenny Road North LLC
Morey,robert S & Timothy
Grant Deed
—
Mar 2, 2010
—
Meyer M Soroudi
Mj Soroudi Third LP
Quit Claim Deed
related
—
—
—
Robert S Morey
—
Deed Of Trust
related
$500,000 · Washington Mutual Fsb
—
—
Lck Investment LLC
—
Deed Of Trust
related
$3,188,000 · Sabal Capital II LLC
—
—
Lck Investment LLC
—
Deed Of Trust
related
$2,600,000 · Greystone Svcg
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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