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Property profile & analytics
OFF-MARKET
Estimated value
$3,380,000
Apartment buildings
3450 50th Ave Portland, OR 97213-2444
Entity Owned
5-yr Hold
Property ID
US71-0847301
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2021
Total area
8,556 SF
Lot
0.2 ac (8,672 SF)
Zoning code
R2H
APN
1N2E30BA 03500
UPID
US71-0847301
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
-
Fremont Villas Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.38M
Blend (final)
Blend
$3.38M
Owner & transaction history
3450 Ne 50th LLC · 5 yrs held
3450 Ne 50th LLC
since 2020
7 recorded transactions
Zoning & alternative use
R2H · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.9M
+28.8%
Auto repair, garage
$2.6M
+14.8%
Medical building
$2.6M
+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)
$2,275,000
Current use
RESTAURANT
$2,930,000
Change: +29% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,610,000
Change: +15% · Conversion: Difficult
MEDICAL BUILDING
$2,585,000
Change: +14% · Conversion: Moderate
OFFICE BUILDING
$2,475,000
Change: +9% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,155,000
Change: -5% · Conversion: Moderate
Blend value · Realmo final
$3.38M
Range $3.04M – $3.72M · ±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
$395 / 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
$39,579
Tax year 2023
Assessed value
$1,493,630
Assessed 2023
Previous assessed
$1,450,133
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$780,480
Improvement market value
$3,741,790
Total market value
$4,522,270
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
2021
Heating
FORCED AIR
Buildings
2
Stories
1
Bathrooms
1
Total area
8,556 SF
Lot
0.2 ac (8,672 SF)
Zoning code
R2H
APN
1N2E30BA 03500
UPID
US71-0847301
Jurisdiction
MULTNOMAH
Zoning & alternative use
R2H · Portland, OR
Zoning R2H · permitted uses
R2H · 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
$2.3M
RESTAURANT
Est. value
$2.9M
AUTO REPAIR, GARAGE
Est. value
$2.6M
MEDICAL BUILDING
Est. value
$2.6M
OFFICE BUILDING
Est. value
$2.5M
COMMERCIAL (GENERAL)
Est. value
$2.2M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2021
Heating
FORCED AIR
Stories
1
Buildings
2
Bathrooms
1
Lot
0.2 ac
Current owner
From public records · entity-resolved
3450 Ne 50th LLC
Entity
Mailing address
1300 SW 5TH AVE STE #3400, PORTLAND, OR 97201-5640
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 3, 2022
—
3450 Ne 50th LLC
—
Deed
related
$4,342,000 · Riverview Community Bank
Oct 13, 2020
—
3450 Ne 50th LLC
Grove Dev INC
Correction Deed
$3,169,000 · Community Fin'l Corp
Aug 21, 2020
—
3450 Ne 50th LLC
—
Deed
related
$3,169,000 · Community Fin'l Corp
Aug 7, 2020
—
3450 Ne 50th LLC
Grove Dev INC
Grant Deed
—
Oct 29, 2019
$850,000
Grove Dev INC
Blair J Peterson
Grant Deed
$350,000 · Lawrence J Brown
Oct 29, 2019
—
Blair J Peterson
Sara J Peterson
Quit Claim Deed
related
—
Mar 10, 2016
—
Jason M Peterson
Peterson,blair J & Sara J
Quit Claim Deed
related
—
Jun 19, 2013
—
Blair J Peterson
Rick A Peterson
Intrafamily Transfer
related
$132,000 · Tlc FCU
May 21, 2013
—
Rick A Peterson
Peterson,blair J
Quit Claim Deed
related
—
Sep 30, 2005
—
Rick A Peterson
Peterson,blair J
Quit Claim Deed
—
Aug 5, 2003
—
Rick A Peterson
Peterson,rick A & Blair J
Quit Claim Deed
related
$155,000 · National City Mortgage Co
Oct 11, 2002
—
Rick A Peterson
Peterson,rick A & Blair J
Quit Claim Deed
related
$120,000 · Aegis Mortgage Corp
May 18, 1999
$153,000
Rebecca J Sundberg
Brent Trust
Grant Deed
—
—
—
3450 Ne 50th LLC
—
Deed Of Trust
related
$3,169,000 · Community Fin'l Corp
—
—
3450 Ne 50th LLC
—
Deed Of Trust
related
$3,169,000 · Community Fin'l Corp
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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