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Property profile & analytics
OFF-MARKET
Estimated value
$5,515,000
Apartment buildings
600 Rene Ave 660, Gresham, OR 97080-1356
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US71-0597511
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1981
Total area
27,776 SF
Lot
2.01 ac (87,556 SF)
Zoning code
MDR12
APN
1S3E11CC 00400
UPID
US71-0597511
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
$5.52M
Blend (final)
Blend
$5.52M
Owner & transaction history
Gbj Rene LLC · 9 yrs held
Gbj Rene LLC
since 2016
5 recorded transactions
Zoning & alternative use
MDR12 · Gresham, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$8.4M
+14.8%
Auto repair, garage
$8.2M
+12.6%
Commercial (general)
$7.9M
+8.2%
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
APARTMENT HOUSE (5+ UNITS)
$7,310,000
Current use
MEDICAL BUILDING
$8,390,000
Change: +15% · Conversion: Moderate
AUTO REPAIR, GARAGE
$8,230,000
Change: +13% · Conversion: Difficult
COMMERCIAL (GENERAL)
$7,915,000
Change: +8% · Conversion: Moderate
OFFICE BUILDING
$7,145,000
Change: -2% · Conversion: Moderate
Blend value · Realmo final
$5.52M
Range $4.96M – $6.07M · ±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
$199 / 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
$38,465
Tax year 2023
Assessed value
$2,043,010
Assessed 2023
Previous assessed
$1,983,510
+3.0% YoY
Effective rate
1.88%
On assessed value
Land market value
$875,560
Improvement market value
$4,070,240
Total market value
$4,945,800
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1981
Heating
NONE
Stories
1
Total area
27,776 SF
Lot
2.01 ac (87,556 SF)
Zoning code
MDR12
APN
1S3E11CC 00400
UPID
US71-0597511
Jurisdiction
MULTNOMAH
Zoning & alternative use
MDR12 · Gresham, OR
Zoning MDR12 · permitted uses
MDR12 · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$7.3M
MEDICAL BUILDING
Est. value
$8.4M
AUTO REPAIR, GARAGE
Est. value
$8.2M
COMMERCIAL (GENERAL)
Est. value
$7.9M
OFFICE BUILDING
Est. value
$7.1M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1981
Heating
NONE
Stories
1
Lot
2.01 ac
Current owner
From public records · entity-resolved
Gbj Rene LLC
Entity
Mailing address
1442 S SCHOONER CRK RD, LINCOLN CITY, OR 97367-9775
Ownership since
2016
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
Aug 2, 2016
—
Gbj Rene LLC
Gbj Rene LLC
Intrafamily Transfer
related
$2,000,000 · Jpmorgan Chase Bank NA
Jun 14, 2004
$1,700,000
Rene Lec Gbj
Altree Enterprises Ollc
Grant Deed
—
Jul 31, 1998
$1,400,000
Altree Enterprises LLC
Lizer,george M & Dolores M
Grant Deed
$1,100,000 · Liberty Federal Bank
—
—
Gbj Rene LLC
—
Deed Of Trust
related
$1,527,500 · J P Morgan Chase Bank
—
—
Gbj Rene LLC
—
Deed Of Trust
related
$1,500,000 · Kinecta FCU
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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