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    Property profile & analytics

    4620 N Maryland Ave Portland, OR 97217

    • Apartment buildings
    • 10,596 SF
    • 0.11 lot acres
    For Sale
    View listing
    $4,350,000
    Last Sale
    Jun 26, 2020
    $4,625,000
    Value Estimations
    Cap Rate Potential
    2.3%
    Apartment buildings
    Location Intelligence
    Property ID
    US71-0603597
    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.

    Current Use by Public Records

    • Apartment / Apartment Complex
    • The Savona / Apartment Building

    Property Details for 4620 N Maryland Ave

    Year built
    2018
    Lot size
    0.11 lot acres
    Property size
    10,596 SF
    Zone code
    EXD
    Property type
    Apartment buildings
    APN
    1N1E22BC 04800
    APU
    1N1E22BC04800

    Description

    This exceptional 24-unit apartment building, known as The Savona, presents a compelling investment opportunity in Portland, Oregon. Built in 2018, this Class C multifamily property boasts 10,596 square feet and is situated at 4620 N Maryland Ave, Portland, OR 97217, in Multnomah County. The property features 24 one-bedroom units, each equipped with large windows, convertible living spaces, full-size washer/dryers, and recessed lighting. The asking price is $4,550,000, translating to $189,583 per unit and $437.92 per square foot. The property enjoys a current cap rate of 5.12% with a pro-forma cap rate of 5.73%, indicating strong potential for return on investment. Its prime location offers residents convenient access to numerous amenities, including the Mississippi Dining and Shopping District (0.4 miles), Adidas World Headquarters (1 mile), and the Portland Farmer's Market at PSU (2.7 miles). Furthermore, residents benefit from proximity to the Willamette River, offering river views and access. The property's location also provides easy access to Downtown Portland (4 miles) and the Portland International Airport (PDX) (13.4 miles). This stabilized, newer construction apartment building represents a rare opportunity to acquire a well-maintained asset in a thriving Portland neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,990,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,177,000
      Market price range: $842k - $4.18M
      AI Estimate
      $4,177,000
      Market price range: $842k - $4.18M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $3,015,000
      Current use
      COMMERCIAL (GENERAL)
      $4,315,000
      Change: +43% Conversion: Moderate
      RESTAURANT
      $3,630,000
      Change: +20% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,235,000
      Change: +7% Conversion: Difficult
      MEDICAL BUILDING
      $3,200,000
      Change: +6% Conversion: Moderate
      RETAIL STORES
      $3,180,000
      Change: +6% Conversion: Difficult
      OFFICE BUILDING
      $3,060,000
      Change: +2% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.681
    Latitude
    45.5563
    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
    $47,585
    $0.00
    $0.00
    $1,795,760
    -
    $494,000
    $4,417,350
    $4,911,350

    Comparable in this City

    • Value Estimation
      $905,000
      5,124 SF

      1236 Killingsworth St

      APARTMENT HOUSE (5+ UNITS) • 5,124 SF
      1236 Killingsworth St, Portland, OR 97217-4500
      View Details
    • Value Estimation
      $4,195,000
      10,640 SF

      2730 Killingsworth St

      APARTMENT HOUSE (5+ UNITS) • 10,640 SF
      2730 Killingsworth St, Portland, OR 97217-4176
      View Details
    • Value Estimation
      $2,325,000
      12,044 SF

      2400 Killingsworth St, Unit 2420

      APARTMENT HOUSE (5+ UNITS) • 12,044 SF
      2400 Killingsworth St, Portland, OR 97217-4460
      View Details
    • Value Estimation
      $4,355,000
      11,047 SF

      1524 Sumner St

      APARTMENT HOUSE (5+ UNITS) • 11,047 SF
      1524 Sumner St, Portland, OR 97217-3672
      View Details
    • Value Estimation
      $12,100,000
      141,852 SF

      1406 Prescott St

      APARTMENT HOUSE (5+ UNITS) • 141,852 SF
      1406 Prescott St, Portland, OR 97217
      View Details
    • Value Estimation
      $2,665,000
      9,209 SF

      565 Rosa Park Way

      APARTMENT HOUSE (5+ UNITS) • 9,209 SF
      565 Rosa Park Way, Portland, OR 97217-2062
      View Details

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      1535 Alberta St

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    • $4,350,000
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      Savona Apartments: Modern Urban Living

      24-unit apartment building in vibrant Portland neighborhood, built in 2018.
      4620 N Maryland Ave, Portland, OR 97217
      View Details

    Similar Nearby for Lease

    • Contact for pricing
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      Retail Space in North Williams

      New retail space in a thriving North Williams district.
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      Lombard St Medical Office Space

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      Portland Industrial Manufacturing Space

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      View Details
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    4620 N Maryland Ave
    Portland, OR 97217
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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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