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Property profile & analytics
OFF-MARKET
Estimated value
$11,195,000
Apartment buildings
5885 Macadam Ave, Portland, OR 97239-3792
Entity Owned
11-yr Hold
Absentee Owner
Free & Clear
Property ID
US71-0041299
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2016
Total area
28,331 SF
Lot
0.78 ac (34,187 SF)
Zoning code
CS
APN
1S1E15CA 05500
UPID
US71-0041299
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
-
Flight (Bike/Boat/Book/etc) Store Corporate Office
-
The Macadam Apartment Complex
-
Wild Nectar Travel Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$11.19M
Blend (final)
Blend
$11.20M
Owner & transaction history
Macadam Apartments LLC · 11 yrs held
Macadam Apartments LLC
since 2015
7 recorded transactions
Zoning & alternative use
CS · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$9.7M
+28.8%
Auto repair, garage
$8.7M
+14.8%
Medical building
$8.6M
+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)
$7,535,000
Current use
RESTAURANT
$9,700,000
Change: +29% · Conversion: Difficult
AUTO REPAIR, GARAGE
$8,650,000
Change: +15% · Conversion: Difficult
MEDICAL BUILDING
$8,555,000
Change: +14% · Conversion: Moderate
RETAIL STORES
$8,505,000
Change: +13% · Conversion: Difficult
OFFICE BUILDING
$8,190,000
Change: +9% · Conversion: Moderate
COMMERCIAL (GENERAL)
$7,765,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$11.20M
Range $10.08M – $12.31M · ±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
$181,046
Tax year 2023
Assessed value
$6,838,720
Assessed 2023
Previous assessed
$6,639,540
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$3,418,700
Improvement market value
$13,719,710
Total market value
$17,138,410
Applied tax rate
1.0000
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
2016
Heating
NONE
Buildings
2
Stories
1
Total area
28,331 SF
Lot
0.78 ac (34,187 SF)
Zoning code
CS
APN
1S1E15CA 05500
UPID
US71-0041299
Jurisdiction
MULTNOMAH
Zoning & alternative use
CS · Portland, OR
Zoning CS · permitted uses
CS · 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
$7.5M
RESTAURANT
Est. value
$9.7M
AUTO REPAIR, GARAGE
Est. value
$8.7M
MEDICAL BUILDING
Est. value
$8.6M
RETAIL STORES
Est. value
$8.5M
OFFICE BUILDING
Est. value
$8.2M
COMMERCIAL (GENERAL)
Est. value
$7.8M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
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
2016
Heating
NONE
Stories
1
Buildings
2
Lot
0.78 ac
Current owner
From public records · entity-resolved
Macadam Apartments LLC
Entity
Free & Clear · 11 yrs held
Mailing address
8630 SW SCHOLLS FRY RD, BEAVERTON, OR 97008-6621
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 18, 2017
—
Macadam Apartments LLC
—
Deed Of Trust
related
$5,500,000 · Bank Of The West
May 28, 2015
$2,100,000
Macadam Apartments LLC
5833 Macadam LLC
Warranty Deed
related
—
Feb 14, 2003
$1,525,000
R B Menashe
Ernandes,frank T
Grant Deed
—
—
—
Frank T Ernandes
—
Deed Of Trust
related
$48,950 · First American Title Co
—
—
Frank T Ernandes
—
Deed Of Trust
related
$780,000 · Western Fsb
—
—
Frank T Ernandes
—
Deed Of Trust
related
$212,000 · Fox Trust
—
—
Frank Ernandes
—
Deed Of Trust
related
$1,020,000 · Willamette Valley Bank
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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