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Property profile & analytics
OFF-MARKET
Estimated value
$34,595,000
Apartment buildings
106 Pennsylvania Ave Redlands, CA 92374-2249
Entity Owned
Property ID
US10-1546897
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1989
Construction
WOOD FRAME
Total area
169,312 SF
Lot
10.99 ac (478,724 SF)
APN
0167-151-24-0000
UPID
US10-1546897
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
-
Tesoro Apartment Complex Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$23.06M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$34.60M
Owner & transaction history
Rodeo 1111 LP
Rodeo 1111 LP
since 2025
Last sale
$41.5M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$53.9M
+49.4%
Auto repair, garage
$51.6M
+42.8%
Medical building
$49.0M
+35.7%
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 Redlands submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Redlands 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%
$24,980,000
6.5%
$23,060,000
7%
$21,415,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$36,090,000
Current use
COMMERCIAL (GENERAL)
$53,905,000
Change: +49% · Conversion: Moderate
AUTO REPAIR, GARAGE
$51,550,000
Change: +43% · Conversion: Difficult
MEDICAL BUILDING
$48,985,000
Change: +36% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$45,575,000
Change: +26% · Conversion: Difficult
WAREHOUSE, STORAGE
$43,155,000
Change: +20% · Conversion: Difficult
Blend value · Realmo final
$34.60M
Range $31.14M – $38.05M · ±10% · vs last sale $41.50M (Jul 17 2025)
Last sale anchor
$41.50M
Jul 17 2025
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
$204 / 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
$383,481
Tax year 2023
Assessed value
$32,206,263
Assessed 2024
Previous assessed
$31,574,768
+2.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$4,990,520
Assessed improvement
$27,215,743
Applied tax rate
5.0000
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 (100+ UNITS)
Status
Off-Market
Year built
1989
Construction
WOOD FRAME
Heating
NONE
Stories
2
Units
188
Total area
169,312 SF
Lot
10.99 ac (478,724 SF)
APN
0167-151-24-0000
UPID
US10-1546897
Jurisdiction
SAN BERNARDINO
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$36.1M
COMMERCIAL (GENERAL)
Est. value
$53.9M
AUTO REPAIR, GARAGE
Est. value
$51.6M
MEDICAL BUILDING
Est. value
$49.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$45.6M
WAREHOUSE, STORAGE
Est. value
$43.2M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
WAREHOUSE, STORAGE
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
WOOD FRAME
Heating
NONE
Stories
2
Units
188
Lot
10.99 ac
Current owner
From public records · entity-resolved
Rodeo 1111 LP
Entity
Mailing address
8871 RESEARCH DR, IRVINE, CA 92618-4236
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 17, 2025
$41,500,000
Rodeo 1111 LP
Preferred Bank
Grant Deed
$29,200,000 · Preferred Bank
Sep 16, 2025
$37,050,580
Preferred Bank
Tesoro Redlands De LLC
Trust Deed
related
—
Aug 20, 2025
—
Tesoro Redlandsde LLC
—
Deed
related
$1,165,000 · Specialty Dip LLC
Mar 3, 2022
—
Tesoro Redlands De LLC
—
Deed
related
$1,000,000 · Nano Banc
Feb 28, 2022
—
Tesoro Redlands De LLC
—
Deed
related
$39,000,000 · Preferred Bank
Jun 23, 2021
—
Tesoro Redlands De LLC
—
Deed
related
$175,000,000 · Coastline Loans LLC
Jun 9, 2021
—
Tesoro Relands De LLC
—
Deed
related
$27,600,000 · Preferred Bank
Nov 19, 2018
—
Tesoro Redlands De LLC
—
Deed
related
$195,500,000 · Loancore Cap Credit Reit LLC
Aug 27, 2018
—
Tesoro Redlands De LLC
—
Deed
related
$200,000 · Private Individual
May 24, 2017
—
Tesuro Redlands De LLC
Tesoro Redlands LLC
Grant Deed
—
Jun 16, 2016
—
Tesoro Redlands LLC
—
Deed
related
$19,515,000 · Banc Of California NA
Apr 29, 2016
$27,750,000
Tesoro Redlands LLC
Faof Orange Village LLC
Grant Deed
—
Jul 31, 2012
$5,363,000
Faof Orange Village LLC
Orange Village Apartments LP
Grant Deed
—
Aug 8, 2008
—
Orange Village Apartments LP
Thomas Tomanek
Grant Deed
$12,950,000 · Wells Fargo Bank NA
—
—
Tesoro Redlands De LLC
—
Deed Of Trust
related
$195,500,000 · Loancore Cap Credit Reit LLC
—
—
Tesoro Redlands De LLC
—
Deed Of Trust
related
$200,000 · Private Individual
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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