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Property profile & analytics
OFF-MARKET
Estimated value
$5,815,000
Apartment buildings
711 11th Ave, Portland, OR 97214-2451
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US71-0681389
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1912
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
33,324 SF
Lot
0.34 ac (15,000 SF)
Zoning code
EXD
APN
1S1E02BA 05900
UPID
US71-0681389
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
-
Portland Substance Abuse LLC Social Service Agency Charitable Organization
-
Melcliff Apartments Apartment Building
-
Peak Mortgage Loan Service Bank
-
Peck Mortgage Loan Service Bank
-
Opensourcery Llc Marketing & Advertising (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.81M
Blend (final)
Blend
$5.82M
Owner & transaction history
Melcliff Associates LLC · 17 yrs held
Melcliff Associates LLC
since 2008
4 recorded transactions
Zoning & alternative use
EXD · 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
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$9,665,000
Change: -2% · Conversion: Moderate
OFFICE BUILDING
$9,630,000
Change: -2% · Conversion: Moderate
Blend value · Realmo final
$5.82M
Range $5.23M – $6.40M · ±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
$174 / 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
$54,771
Tax year 2023
Assessed value
$2,066,920
Assessed 2023
Previous assessed
$2,006,720
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$1,798,310
Improvement market value
$5,262,430
Total market value
$7,060,740
Applied tax rate
884.0000
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
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
4
Units
55
Total area
33,324 SF
Lot
0.34 ac (15,000 SF)
Zoning code
EXD
APN
1S1E02BA 05900
UPID
US71-0681389
Jurisdiction
MULTNOMAH
Zoning & alternative use
EXD · Portland, OR
Zoning EXD · permitted uses
EXD · 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
COMMERCIAL (GENERAL)
Est. value
$9.7M
OFFICE BUILDING
Est. value
$9.6M
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
1912
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
4
Units
55
Lot
0.34 ac
Current owner
From public records · entity-resolved
Melcliff Associates LLC
Entity
Mailing address
530 12TH NW 23RD AVE, PORTLAND, OR 97210-3299
Ownership since
2008
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 28, 2022
—
Melcliff Associates LLC
—
Deed
related
$2,375,000 · Banner Bank
Dec 5, 2008
—
Melcliff Associates LLC
Gibson,reed
Warranty Deed
$1,800,000 · M&t Real Estate Trust (tr)
Jun 30, 1989
$48,500
Maria L Sandvold
Popenuk,john M
Grant Deed
$49,927 · Benjamin Franklin Fsb
—
—
Melcliff Associates LLC
—
Deed Of Trust
related
$2,200,000 · Banner 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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