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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5123 38th Pl, Unit 5133 Portland, OR 97221-3854

    • Apartment buildings
    • 82,784 SF
    • 5.82 lot acres
    OFF-MARKET
    Value Estimations
    $15,390,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-1028692
    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

    • TimberleeApartments / Apartment Building

    Property Details for 5123 38th Pl

    Year built
    1966
    Lot size
    5.82 lot acres
    Property size
    82,784 SF
    Zone code
    R2
    Property type
    Apartment buildings
    APN
    1S1E17BD 00900
    APU
    1S1E17BD00900

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $15,387,000
      Market price range: $13.2M - $32.7M
      AI Estimate
      $15,387,000
      Market price range: $13.2M - $32.7M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $22,010,000
      Current use
      AUTO REPAIR, GARAGE
      $25,275,000
      Change: +15% Conversion: Difficult
      MEDICAL BUILDING
      $25,005,000
      Change: +14% Conversion: Moderate
      RETAIL STORES
      $24,855,000
      Change: +13% Conversion: Difficult
      OFFICE BUILDING
      $23,925,000
      Change: +9% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $23,840,000
      Change: +8% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.716
    Latitude
    45.4854
    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
    $149,418
    $0.00
    $0.00
    $5,644,020
    -
    $2,417,520
    $13,475,770
    $15,893,290

    Comparable in this City

    • Value Estimation
      $17,795,000
      78,670 SF

      6205 Beaverton Hillsdale Hwy, Unit 6367

      APARTMENT HOUSE (5+ UNITS) • 78,670 SF
      6205 Beaverton Hillsdale Hwy, Portland, OR 97221-1177
      View Details
    • Value Estimation
      $6,295,000
      16,960 SF

      6045 Beaverton Hillsdale Hwy

      APARTMENT HOUSE (5+ UNITS) • 16,960 SF
      6045 Beaverton Hillsdale Hwy, Portland, OR 97221-1100
      View Details
    • Value Estimation
      $1,140,000
      4,480 SF

      3530 Beaverton Hillsdale Hwy, Unit 3538

      APARTMENT HOUSE (5+ UNITS) • 4,480 SF
      3530 Beaverton Hillsdale Hwy, Portland, OR 97221-3810
      View Details
    • Value Estimation by Request
      12,928 SF

      4608 Julia St, Unit 4638

      APARTMENT HOUSE (5+ UNITS) • 12,928 SF
      4608 Julia St, Portland, OR 97221-2933
      View Details
    • Value Estimation
      $4,570,000
      25,368 SF

      5075 56th Ave

      APARTMENT HOUSE (5+ UNITS) • 25,368 SF
      5075 56th Ave, Portland, OR 97221-1923
      View Details
    • Value Estimation
      $2,290,000
      6,336 SF

      5550 Beaverton Hillsdale Hwy, Unit 5564

      APARTMENT HOUSE (5+ UNITS) • 6,336 SF
      5550 Beaverton Hillsdale Hwy, Portland, OR 97221-1951
      View Details

    Similar Nearby for Sale

    • $250,000
      1,150 SF

      Remodeled Condo in SW Hills

      Tranquil, modern 2-bedroom condo near downtown Portland.
      1500 SW Skyline Blvd, Portland, OR 97221
      View Details
    • $785,000
      4,380 SF

      Mid-Century Duplex in West Hills

      Classic Portland duplex with hardwood floors and fireplaces on large lot.
      5381/5383 SW Humphrey Blvd, Portland, OR 97221
      View Details
    • $384,900

      Portland Development Opportunity: RM2 Land

      RM2 land in Southwest Portland, near downtown, Hillsdale, and Multnomah.
      4255 SW Beaverton Hillsdale Hwy, Portland, OR 97221
      View Details
    • $549,000
      0.39 Acres

      Buildable Land in SW Portland

      Rare .39 acre lot near Hamilton Park.
      4142 SW Hamilton St, Portland, OR 97221
      View Details
    • $175,000
      0.44 Acres

      Buildable Lot in Sylvan-Highlands

      Buildable lot in a peaceful, wooded Portland neighborhood.
      906 SW Skyline Blvd, Portland, OR 97221
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      460 SF

      Office Space for Rent

      Office space available for lease in Portland, Oregon.
      5319 SW Westgate Dr, Portland, OR 97221
      View Details
    • Contact for pricing
      1,483 SF

      Retail Space with High Visibility

      Class A retail space available for lease in Portland, OR.
      1850 SW Skyline Blvd, Portland, OR 97221
      View Details
    • Contact for pricing

      Multi-Tenant Office Building For Lease

      Office building with deli, conference room, and on-site parking.
      Portland, OR 97221
      View Details
    • $21 SF/Yr
      1,627 SF

      Corner Office Space Available

      Ground floor office space with main lobby entrance and showers.
      6443 SW Beaverton Hillsdale Hwy, Portland, OR 97221
      View Details
    • Contact for pricing

      Raleigh West Executive Office Building

      Office spaces with renovated lobby, conference room, and convenient location.
      6443 SW Beaverton Hillsdale Hwy, Portland, OR 97221
      View Details
    • $15 SF/Yr
      832 SF

      Office Space Available For Rent

      Office space available for lease in Portland, Oregon.
      1730 SW Skyline Blvd, Portland, OR 97221
      View Details
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    Portland, OR 97221-3854
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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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