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Property profile & analytics
OFF-MARKET
Estimated value
$37,965,000
Office buildings
1050 Lks Dr West Covina, CA 91790-2924
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-6562076
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1989
Construction
STEEL FRAME
Total area
93,400 SF
Lot
1.03 ac (45,015 SF)
Zoning code
WCCR*
APN
8474-011-027
UPID
US09-6562076
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
$32.83M
Comparable Approach
Comparable
$31.48M
Blend (final)
Blend
$37.97M
Owner & transaction history
Lakes Property Owner LLC · 6 yrs held
Lakes Property Owner LLC
since 2020
Last sale
$40.9M
7 recorded transactions
Zoning & alternative use
WCCR* · West Covina, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$60.8M
+86.6%
Neighborhood: shopping center
$56.8M
+74.4%
Auto repair, garage
$43.2M
+32.6%
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 West Covina submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West Covina 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
$43,805,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$35,565,000
6.5%
$32,830,000
7%
$30,485,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$32,590,000
Current use
RESTAURANT
$60,820,000
Change: +87% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$56,845,000
Change: +74% · Conversion: Difficult
AUTO REPAIR, GARAGE
$43,200,000
Change: +33% · Conversion: Difficult
MEDICAL BUILDING
$42,460,000
Change: +30% · Conversion: Easy
WAREHOUSE, STORAGE
$35,885,000
Change: +10% · Conversion: Difficult
RETAIL STORES
$32,285,000
Change: -1% · Conversion: Moderate
COMMERCIAL (GENERAL)
$28,860,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$37.97M
Range $34.17M – $41.76M · ±10% · vs last sale $40.85M (Feb 18 2020)
Last sale anchor
$40.85M
Feb 18 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
$406 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$270,839
Tax year 2024
Assessed value
$20,827,522
Assessed 2024
Previous assessed
$20,827,522
+0.0% YoY
Effective rate
1.30%
On assessed value
Assessed land
$5,361,009
Assessed improvement
$15,466,513
Applied tax rate
9.0000
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1989
Construction
STEEL FRAME
Heating
NONE
Stories
4
Total area
93,400 SF
Lot
1.03 ac (45,015 SF)
Zoning code
WCCR*
APN
8474-011-027
UPID
US09-6562076
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
WCCR* · West Covina, CA
Zoning WCCR* · permitted uses
WCCR* · West Covina, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Covina. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$32.6M
RESTAURANT
Est. value
$60.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$56.8M
AUTO REPAIR, GARAGE
Est. value
$43.2M
MEDICAL BUILDING
Est. value
$42.5M
WAREHOUSE, STORAGE
Est. value
$35.9M
RETAIL STORES
Est. value
$32.3M
COMMERCIAL (GENERAL)
Est. value
$28.9M
OFFICE BUILDING Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
MEDICAL BUILDING
WAREHOUSE, STORAGE
RETAIL STORES
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
1989
Construction
STEEL FRAME
Heating
NONE
Stories
4
Lot
1.03 ac
Current owner
From public records · entity-resolved
Lakes Property Owner LLC
Entity
Mailing address
3600 LIME ST STE #623, RIVERSIDE, CA 92501-2977
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 25, 2025
—
Lakes Property Owner LLC
—
Deed
related
$23,700,000 · Bank Of America NA
Feb 18, 2020
$40,850,000
Lakes Property Owner LLC
Cip 2014/sg Covina Owner LLC
Grant Deed
$27,900,000 · Bank Of America
Jul 10, 2018
—
Cip 2014/sg Covina Owner LLC
—
Loan Modification
related
$30,100,000 · Suntrust Bk
May 13, 2016
—
Cip 2014sg Covina Owner LLC
—
Deed
related
$26,100,000 · Suntrust Bank
Nov 5, 2015
$34,850,000
Cip 2014/sg Covina Owner LLC
Gateway Crescent LLC
Grant Deed
$24,750,000 · Private Individual
Jul 16, 2007
$26,000,000
Gateway Crescent LLC
Ten West Associates LLC
Grant Deed
—
Nov 21, 2005
—
Ten West Associates LLC
Wcla LLC
Grant Deed
—
Oct 14, 2005
—
Wcla LLC
West Covina Lakes Assocs LLC
Grant Deed
$32,000,000 · J P Morgan Chase Bank
Mar 6, 1989
$1,155,500
West Covina Lakes Associates
—
Grant Deed
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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