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Property profile & analytics
OFF-MARKET
Estimated value
$5,300,000
Apartment buildings
623 Park Ave, Portland, OR 97205-3104
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US71-0347525
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1912
Total area
33,320 SF
Lot
0.11 ac (5,000 SF)
Zoning code
CXD
APN
1N1E34CC 09100
UPID
US71-0347525
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
-
Morrison Park Apts. Apartment Building Apartment Complex
-
Morrison Park Apartment Building
-
annabelle araya paintings Artist
-
AltogetherOne Artist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.30M
Blend (final)
Blend
$5.30M
Owner & transaction history
Innovative Kwvs LLC · 10 yrs held
Innovative Kwvs LLC
since 2015
6 recorded transactions
Zoning & alternative use
CXD · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
Blend value · Realmo final
$5.30M
Range $4.77M – $5.83M · ±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
$159 / 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
$34,775
Tax year 2023
Assessed value
$1,313,570
Assessed 2023
Previous assessed
$1,275,320
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$1,898,480
Improvement market value
$16,683,780
Total market value
$18,582,260
Applied tax rate
885.0000
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
1912
Heating
NONE
Stories
1
Total area
33,320 SF
Lot
0.11 ac (5,000 SF)
Zoning code
CXD
APN
1N1E34CC 09100
UPID
US71-0347525
Jurisdiction
MULTNOMAH
Zoning & alternative use
CXD · Portland, OR
Zoning CXD · permitted uses
CXD · 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.
Building & site characteristics
From public records
Year built
1912
Heating
NONE
Stories
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
Innovative Kwvs LLC
Entity
Mailing address
219 NW 2ND AVE, PORTLAND, OR 97209-3905
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 31, 2015
—
Innovative Kwvs LLC
Whitmarsh Building LLC
Special Warranty Deed
$4,022,658 · Pacific Continental Bank
Mar 2, 2010
$1,576,255
Innovative Housing INC
Morrison Park LP
Grant Deed
$1,322,000 · Capital Pacific Bank
Mar 2, 2010
—
Park LP Morrison
Innovative Housing INC
Quit Claim Deed
related
—
Dec 17, 1993
—
Park LP Morrison
Persis Corp
Grant Deed
—
Jan 26, 1993
$50,000
Yong H Choi
Nauru,phosphate
Grant Deed
$116,000 · Phh Us Mortgage
—
—
Innovative Kwvs LLC
—
Deed Of Trust
related
$608,000 · Pacific Cont'l Bk
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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