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Property profile & analytics
OFF-MARKET
Estimated value
$43,710,000
Apartment buildings
1151 Walnut Ave, Tustin, CA 92780-5649
Entity Owned
6-yr Hold
Absentee Owner
Property ID
US09-0585741
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1969
Total area
91,544 SF
Lot
4.75 ac (206,701 SF)
APN
432-121-07
UPID
US09-0585741
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
-
Terra at Tustin Apartments Apartment Building Apartment Rental Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$26.88M
Comparable Approach
Comparable
$57.80M
Blend (final)
Blend
$43.71M
Owner & transaction history
Cadigan Terra At Tustin LLC · 6 yrs held
Cadigan Terra At Tustin LLC
since 2020
Last sale
$41.0M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$62.5M
+68.5%
Retail stores
$44.6M
+20.4%
Neighborhood: shopping center
$42.9M
+15.9%
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 Tustin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tustin 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
$51,870,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$29,120,000
6.5%
$26,880,000
7%
$24,960,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$37,065,000
Current use
RESTAURANT
$62,460,000
Change: +69% · Conversion: Difficult
RETAIL STORES
$44,610,000
Change: +20% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$42,940,000
Change: +16% · Conversion: Difficult
AUTO REPAIR, GARAGE
$40,835,000
Change: +10% · Conversion: Difficult
COMMERCIAL (GENERAL)
$39,295,000
Change: +6% · Conversion: Moderate
Blend value · Realmo final
$43.71M
Range $39.34M – $48.08M · ±10% · vs last sale $41.00M (Feb 14 2020)
Last sale anchor
$41.00M
Feb 14 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
$477 / 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
$509,362
Tax year 2024
Assessed value
$43,960,286
Assessed 2024
Previous assessed
$43,960,286
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$39,671,479
Assessed improvement
$4,288,807
Applied tax rate
13.0000
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
1969
Heating
NONE
Stories
2
Units
116
Total area
91,544 SF
Lot
4.75 ac (206,701 SF)
APN
432-121-07
UPID
US09-0585741
Jurisdiction
ORANGE
Metro division
SANTA ANA-ANAHEIM-IRVINE, CA METROPOLITAN DIVISION
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
$37.1M
RESTAURANT
Est. value
$62.5M
RETAIL STORES
Est. value
$44.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$42.9M
AUTO REPAIR, GARAGE
Est. value
$40.8M
COMMERCIAL (GENERAL)
Est. value
$39.3M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
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
1969
Heating
NONE
Stories
2
Units
116
Lot
4.75 ac
Current owner
From public records · entity-resolved
Cadigan Terra At Tustin LLC
Entity
Mailing address
440 W 1ST ST STE #201, TUSTIN, CA 92780-3047
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 14, 2020
$41,000,000
Cadigan Terra At Tustin LLC
Pur Tustin LLC
Grant Deed
$23,750,000 · Capital One Bank NA
Dec 22, 2017
$34,800,000
Pur Tustin LLC
Udr Texas Properties LLC
Grant Deed
$27,165,000 · Mesa W R/e Income Fund IV LLC
Sep 30, 2004
—
El Encanto Apartments Udr II
Essex El Encanto Apartments
Grant Deed
related
—
Oct 7, 1997
$2,273,000
Tustin El Encanto LLC
El Encanto Apartments LLC
Grant Deed
related
—
Jan 31, 1996
—
El Encanto Apts
Hearr,
Trustees Deed
related
$4,950,000 · Cb Commercial Mortgage Company
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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