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Property profile & analytics
OFF-MARKET
Estimated value
$44,205,000
Apartment buildings
950 21st Ave, Portland, OR 97205-1562
Entity Owned
24-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US71-0668395
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1951
Total area
149,385 SF
Lot
1.27 ac (55,321 SF)
Zoning code
RHT
APN
1N1E33CD 00500
UPID
US71-0668395
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 Towers Apartment Building
-
lamb Advocacy Group
-
Edward Jones Financial Advisor
-
Tutor Portland | Math Tutoring Tutoring Service
-
Alexander Kriech Intuitive Services Spiritual Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$44.21M
Blend (final)
Blend
$44.21M
Owner & transaction history
Portland Towers Apartments LLC · 24 yrs held
Portland Towers Apartments LLC
since 2002
7 recorded transactions
Zoning & alternative use
RHT · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$51.2M
+28.8%
Auto repair, garage
$45.6M
+14.8%
Medical building
$45.1M
+13.6%
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 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)
$39,720,000
Current use
RESTAURANT
$51,160,000
Change: +29% · Conversion: Difficult
AUTO REPAIR, GARAGE
$45,615,000
Change: +15% · Conversion: Difficult
MEDICAL BUILDING
$45,120,000
Change: +14% · Conversion: Moderate
RETAIL STORES
$44,850,000
Change: +13% · Conversion: Difficult
OFFICE BUILDING
$43,175,000
Change: +9% · Conversion: Moderate
COMMERCIAL (GENERAL)
$43,020,000
Change: +8% · Conversion: Moderate
Blend value · Realmo final
$44.21M
Range $39.78M – $48.63M · ±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
$296 / 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
$429,244
Tax year 2023
Assessed value
$16,213,990
Assessed 2023
Previous assessed
$15,741,740
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$5,257,500
Improvement market value
$58,399,980
Total market value
$63,657,480
Applied tax rate
1.0000
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
1951
Heating
NONE
Stories
1
Total area
149,385 SF
Lot
1.27 ac (55,321 SF)
Zoning code
RHT
APN
1N1E33CD 00500
UPID
US71-0668395
Jurisdiction
MULTNOMAH
Zoning & alternative use
RHT · Portland, OR
Zoning RHT · permitted uses
RHT · 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
$39.7M
RESTAURANT
Est. value
$51.2M
AUTO REPAIR, GARAGE
Est. value
$45.6M
MEDICAL BUILDING
Est. value
$45.1M
RETAIL STORES
Est. value
$44.9M
OFFICE BUILDING
Est. value
$43.2M
COMMERCIAL (GENERAL)
Est. value
$43.0M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1951
Heating
NONE
Stories
1
Lot
1.27 ac
Current owner
From public records · entity-resolved
Portland Towers Apartments LLC
Entity
Mailing address
1121 SW SALMON ST FL 5TH, PORTLAND, OR 97205-2022
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 1, 2019
—
Portland Towers Apartments LLC
—
Deed
related
$14,500,000 · Bank Of America
Oct 18, 2017
—
Portland Towers Apartments LLC
—
Deed
related
—
Aug 1, 2007
—
Portland Towers Apartments LLC
—
Grant Deed
related
$14,500,000 · Bank Of America
Apr 24, 2002
—
Portland Towers Apartments LLC
Portland Tower Corp
Quit Claim Deed
related
$9,750,000 · Sunamerica Life Insurance Co
—
—
Portland Towers Apartments LLC
—
Loan Modification
related
$14,500,000 · Bank Of America
—
—
Portland Towers Apartments LLC
—
Deed Of Trust
related
—
—
—
Portland Towers Apartments LLC
—
Loan Modification
related
—
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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