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Property profile & analytics
OFF-MARKET
Estimated value
$24,515,000
Apartment buildings
700 Eastman Pkwy, Gresham, OR 97080-6815
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US71-0499809
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1992
Total area
90,167 SF
Lot
3.08 ac (134,165 SF)
Zoning code
MDR24
APN
1S3E09CD 08400
UPID
US71-0499809
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
$17.81M
Comparable Approach
Comparable
$18.51M
Blend (final)
Blend
$24.52M
Owner & transaction history
700 Eastman LLC · 6 yrs held
700 Eastman LLC
since 2020
Last sale
$28.0M
4 recorded transactions
Zoning & alternative use
MDR24 · Gresham, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$32.3M
+35.9%
Medical building
$27.2M
+14.8%
Auto repair, garage
$26.7M
+12.6%
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 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%
$19,295,000
6.5%
$17,810,000
7%
$16,540,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$23,735,000
Current use
RESTAURANT
$32,250,000
Change: +36% · Conversion: Difficult
MEDICAL BUILDING
$27,240,000
Change: +15% · Conversion: Moderate
AUTO REPAIR, GARAGE
$26,725,000
Change: +13% · Conversion: Difficult
COMMERCIAL (GENERAL)
$25,685,000
Change: +8% · Conversion: Moderate
OFFICE BUILDING
$23,190,000
Change: -2% · Conversion: Moderate
Blend value · Realmo final
$24.52M
Range $22.06M – $26.97M · ±10% · vs last sale $28.00M (Feb 5 2020)
Last sale anchor
$28.00M
Feb 5 2020
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
$272 / 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
$129,068
Tax year 2023
Assessed value
$6,855,230
Assessed 2023
Previous assessed
$6,655,570
+3.0% YoY
Effective rate
1.88%
On assessed value
Land market value
$1,341,650
Improvement market value
$16,302,940
Total market value
$17,644,590
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
1992
Heating
NONE
Buildings
2
Stories
1
Total area
90,167 SF
Lot
3.08 ac (134,165 SF)
Zoning code
MDR24
APN
1S3E09CD 08400
UPID
US71-0499809
Jurisdiction
MULTNOMAH
Zoning & alternative use
MDR24 · Gresham, OR
Zoning MDR24 · permitted uses
MDR24 · 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
$23.7M
RESTAURANT
Est. value
$32.3M
MEDICAL BUILDING
Est. value
$27.2M
AUTO REPAIR, GARAGE
Est. value
$26.7M
COMMERCIAL (GENERAL)
Est. value
$25.7M
OFFICE BUILDING
Est. value
$23.2M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
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
1992
Heating
NONE
Stories
1
Buildings
2
Lot
3.08 ac
Current owner
From public records · entity-resolved
700 Eastman LLC
Entity
Mailing address
8965 RESEARCH DR, IRVINE, CA 92618-4246
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 5, 2020
$16,500,000
700 Eastman LLC
Hollycrest Apartments LLC
Special Warranty Deed
$12,350,000 · Cit Bank NA
Mar 1, 1993
$3,440,000
Zylstra,richard L Tr&judith A Tr
Unknown
Grant Deed
—
—
—
Hollycrest Apartments LLC
—
Deed Of Trust
related
$1,000,000 · J P Morgan Chase Bank
—
—
Hollycrest Apartments LLC
—
Deed Of Trust
related
$2,165,000 · Homestreet 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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