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Property profile & analytics
OFF-MARKET
Estimated value
$1,705,000
Apartment buildings
6500 Mississippi Ave Portland, OR 97217-1868
Entity Owned
13-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US71-0952654
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1944
Construction
FRAME
Total area
6,414 SF
Lot
0.32 ac (14,000 SF)
Zoning code
R1
APN
1N1E15BD 09000
UPID
US71-0952654
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
$1.71M
Blend (final)
Blend
$1.71M
Owner & transaction history
6510 LLC · 13 yrs held
6510 LLC
since 2012
5 recorded transactions
Zoning & alternative use
R1 · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.6M
+43.2%
Restaurant
$2.2M
+20.4%
Auto repair, garage
$2.0M
+7.4%
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)
$1,825,000
Current use
COMMERCIAL (GENERAL)
$2,610,000
Change: +43% · Conversion: Moderate
RESTAURANT
$2,195,000
Change: +20% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,960,000
Change: +7% · Conversion: Difficult
MEDICAL BUILDING
$1,935,000
Change: +6% · Conversion: Moderate
RETAIL STORES
$1,925,000
Change: +6% · Conversion: Difficult
OFFICE BUILDING
$1,855,000
Change: +2% · Conversion: Moderate
Blend value · Realmo final
$1.71M
Range $1.53M – $1.88M · ±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
$266 / 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
$15,068
Tax year 2023
Assessed value
$568,640
Assessed 2023
Previous assessed
$552,080
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$700,000
Improvement market value
$1,588,840
Total market value
$2,288,840
Applied tax rate
710.0000
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
1944
Construction
FRAME
Heating
GRAVITY
Stories
1
Units
11
Bathrooms
11
Total area
6,414 SF
Lot
0.32 ac (14,000 SF)
Zoning code
R1
APN
1N1E15BD 09000
UPID
US71-0952654
Jurisdiction
MULTNOMAH
Zoning & alternative use
R1 · Portland, OR
Zoning R1 · permitted uses
R1 · 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
$1.8M
COMMERCIAL (GENERAL)
Est. value
$2.6M
RESTAURANT
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$1.9M
RETAIL STORES
Est. value
$1.9M
OFFICE BUILDING
Est. value
$1.9M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
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
1944
Construction
FRAME
Heating
GRAVITY
Stories
1
Units
11
Bathrooms
11
Lot
0.32 ac
Current owner
From public records · entity-resolved
6510 LLC
Entity
Mailing address
815 SE 23RD AVE, PORTLAND, OR 97214-2868
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
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
Sep 14, 2016
—
6510 LLC
—
Deed
related
$1,875,000 · Jpmorgan Chase Bank NA
Nov 29, 2012
—
6510 LLC
Carlson,george L
Quit Claim Deed
related
—
Oct 27, 2011
$325,000
6510 LLC
Arete Street LLC
Warranty Deed
$425,000 · Stephen I III Moreland
Oct 27, 2011
$18,010
Arete Street LLC
Leisy Family Living Trust
Warranty Deed
—
—
—
6510 LLC
—
Deed Of Trust
related
$1,170,000 · Maps 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.
Try Rey
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