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Property profile & analytics
OFF-MARKET
Estimated value
$660,000
Assisted living facilities
518 23rd Ave, Gresham, OR 97030-2500
Individually Owned
25-yr Hold
Property ID
US71-0113924
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1987
Total area
2,853 SF
Lot
0.29 ac (12,812 SF)
Zoning code
LDR
APN
1S3E04AD 05500
UPID
US71-0113924
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
$658k
Blend (final)
Blend
$660k
Owner & transaction history
Cornel Cristurean · 25 yrs held
Cornel Cristurean
since 2001
5 recorded transactions
Zoning & alternative use
LDR · Gresham, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$860,000
+57.5%
Auto repair, garage
$845,000
+54.5%
Office building
$735,000
+34.0%
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 Gresham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gresham 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
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$545,000
Current use
MEDICAL BUILDING
$860,000
Change: +57% · Conversion: Difficult
AUTO REPAIR, GARAGE
$845,000
Change: +54% · Conversion: Difficult
OFFICE BUILDING
$735,000
Change: +34% · Conversion: Difficult
COMMERCIAL (GENERAL)
$705,000
Change: +29% · Conversion: Difficult
WAREHOUSE, STORAGE
$595,000
Change: +9% · Conversion: Difficult
Blend value · Realmo final
$660k
Range $594k – $726k · ±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
$231 / 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
$7,353
Tax year 2023
Assessed value
$390,560
Assessed 2023
Previous assessed
$379,190
+3.0% YoY
Effective rate
1.88%
On assessed value
Land market value
$347,500
Improvement market value
$448,670
Total market value
$796,170
Applied tax rate
26.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1987
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Bathrooms
8
Total area
2,853 SF
Lot
0.29 ac (12,812 SF)
Zoning code
LDR
APN
1S3E04AD 05500
UPID
US71-0113924
Jurisdiction
MULTNOMAH
Zoning & alternative use
LDR · Gresham, OR
Zoning LDR · permitted uses
LDR · Gresham, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gresham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$545,000
MEDICAL BUILDING
Est. value
$860,000
AUTO REPAIR, GARAGE
Est. value
$845,000
OFFICE BUILDING
Est. value
$735,000
COMMERCIAL (GENERAL)
Est. value
$705,000
WAREHOUSE, STORAGE
Est. value
$595,000
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
1987
Heating
FORCED AIR
Cooling
Yes
Stories
2
Bathrooms
8
Lot
0.29 ac
Current owner
From public records · entity-resolved
Cornel Cristurean
Individual
Mailing address
518 NW 23RD AVE, GRESHAM, OR 97030-2500
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2001
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 6, 2001
$163,000
Cornel Cristurean
Freitag,james A & Linda K
Grant Deed
$100,000 · Washington Mutual Home Loans
Jul 31, 1995
$135,900
James A Freitag
Edwards,jeffrey C & Marjorie P
Grant Deed
$30,000 · Washington Mutual Fsb
May 1, 1990
$98,000
Jeffrey C Edwards
Le Roque,david B
Grant Deed
$68,600 · West One Bank Oregon
—
—
Cornel Cristurean
—
Deed Of Trust
related
$30,400 · Portland Teachers Cu
—
—
Cornel Cristurean
—
Deed Of Trust
related
$97,500 · Portland Teachers Cu
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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